Help - Missed payment on Scottish Trust Deed

BigMan

Ok, let me start, my finances are a total mess!

Around 10 months ago, my mrs went for a routine day op, that lasted a couple of weeks, and was off work for months afterwards, and by the time she was back on her feet, she no longer had a job to go back to.

Since then we have just scraped by on my income, but since then I have not been paying my trsut deed, I e-mailed the company monthly to advise them of this, but never received a reply.

On Friday, the decided to approach my bank and put a stop on it, the back actually told me it was a complete stop, but my trustee told me it was only to stop any cash withdrawals.

When I called them, i was advised I had not replied to any messages, I have no voice mail messages, and not one single letter from them. They are now going to take over £900 of my wages this month, and then put me up for Sequestration. And they also told me this would be for 3 years, and they would ask me for a lot more than the £300 that I should be paying.

My mrs and I are obviosly very upset, as we just get by on my own income, which varies from £1400 - £1800 p/m but will be in the £1500 area for the next 6-7 months. They say I can feed, heat and home a family of 4 for only £600 pm!.

Does anyone know what to expect from Sequestration, ie how much is classed as reasonable living expenses, as she has told me kids school trips, and £30 pm clothing allowance for each person is "far to much", also christmas presents and school trips are classed as a luxury so they would also not be considered!

On another note, when I had my first meeting with them, I was advised to take out more debt, obtain a mortgage and max out my credit cards, i was then given a declaration to sign my debts and they were not even mine on it! , i signed it as i was assured it would be sorted out.

Thanks, and sorry it so long, and for any spelling mistakes, my hands are still shaking

tigerfeet2006

Sorry to hear about your situation. Please ring one of the debt charities tomorrow and talk through your circumstances with them. National Debtline should be able to give you advice straight away as long as you have all your financial details. Be patient as the debt charities are busy so it may take a while to get through.

BR in Scotland has different rules than in England but I am sure that your clothing and childrens expenses will be fine.

Once you have phoned someone come back and let us know what they say. It sounds like the company you are dealing with are a load of shysters.

hattybee

All sounds like dodgy advice. If they’re going to sequestrate you, I would make sure they didn’t get another penny – open a new bank account for your wages or get them paid into your wife’s account
Sequestration only usually lasts for 1 year, though you would be expected to pay a contribution for 3 years. It’s unlikely that you would be asked to pay more than you were in the Trust Deed.
Any “reasonable” expenses are allowed – though £30 per month for clothing per person is on the high side - £60pm for a family of 4 would be more realistic.
School trips, kid’s pocket money and activities are allowed (as long as they’re reasonable) - around £15 - £20 per child per month. And you should be able to include something for “sundries and emergencies”, as Christmas and birthdays aren’t usually specifically allowed for.
There are no fixed allowances for living expenses – it really is what you need to maintain a reasonable standard of living.