Trust Deed Scotland

catswhiskers4

Hi,

I am considering going down the trust deed route as my debts are now out of control and wondering if anyone has any advice? I'm presuming the IVA board is the right place as this is the Scottish equivalent of it? I also have some specific questions, I have a joint mortgage with my Mum, will she need to be informed? I work for a bank that requires you to have an account with them to have my wages paid into, will I be able to keep this open?

I am nearly £25,000 in debt on a salary of £23,000 and am currently on maternity leave. A combination of a relationship breakup, five years ago and now new partner being very unwell and on SSP and now ESA and DLA has caused my debt to build up - I was using cards just to be able to eat, but managing ok, its getting on top of me now though.

Anondebtadvisor

Hi Catswhiskers

If you enter a Scottish Trust Deed you mum will find out about it as joint owner of a property and you will be required to release you share of the equity into the Trust Deed. Have you got any equity in the property?

If you owe any money to your employer such as loan, overdraft etc they will be informed as they are a creditor. Your trust deed will be in the edinburgh gazzete.

Check your employment contract to see what it says about insolvency, if it says nothing make a call to HR