trust deed diary (scotland)

chardonnay_2

well it looks like a trust deed may be our option being in scotland. as i have stated in another thread the cccs reccommended bancruptcy or a dmp over 42 years. see thread


http://forums.moneysavingexpert.com/showthread.html?t=472208

at the moment our outgoings (credit card and loan minimum payments) are more than double our income on benefits

we have an appt with the cab next tuesday and it can't come soon enough.

i thought i would start this diary as there don't seem to be many posts relevant to this process in scotland.

i will update this with more info when i can

fermi

Thanks chardonnay,

We often have to simply point people from Scotland to somewhere else, so this could be really useful.

atmywitsend_4

Hi

Hope Im not doing the wrong thing here, but try this site, its excellent for all debt related questions in Scotland including Trust Deeds.

http://www.debtquestions.co.uk/debt_forum/viewforum.php?f=16&sid=969f08314b15fdfb726a06357d565049

fermi

atmywitsend wrote: »

Hi

Hope Im not doing the wrong thing here, but try this site, its excellent for all debt related questions in Scotland including Trust Deeds.

http://www.debtquestions.co.uk/debt_forum/viewforum.php?f=16&sid=969f08314b15fdfb726a06357d565049

Not wrong at all.:D

I suggest them all the time here when someone asks about debt in Scotland.

chardonnay_2

i've looked at that forum and found it very helpful, i need to register to join so i can hopefully get some answers to the many queries running around my head keeping me awake:mad: .

i think this thread may be very cathartic - a form of self counselling:cool:

at the moment i feel somewhat in limbo and not sure what is going to happen next:eek:

luckily i have a fantastic hubby (we're engaged and have been together 8 years, so i call him my hubby ) and we are supporting each other through this.

i think we will end up needing 2 trust deeds as none of our debt is joint. strangely, when we faced facts and added everything up we had the exact same number of creditors and almost exactly the same amount of debt.

atmywitsend_4

Hi there again

Yes you will have separate Trust Deeds if you qualify. Whether you have joint debts or not (myself and hubby do) each TD is done individually working out each joint debt by the amount that each of you earn.

I am two weeks away from being protected and keeping my fingers crossed.

Tigsteroonie

Hi, first posting on MSE so be kind!

Been there, done that, got the t-shirt - AND IT WAS WORTH IT!!! Trust deeds for both DH and myself in autumn 2002, protected shortly thereafter, finished in autumn 2005, now debt-free. :beer:

I'll try and keep an eye on your Diary postings and offer help from our experiences where appropriate.

chardonnay_2

so a few weeks ago our lovely cab advisor told us bancruptcy was our only option as circumstances stand. it was a shock but not fully unexpected.

basically this will no longer be a trust deed diary but a bancruptcy in scotland diary x 2. so we have the long slog of ignoring creditors demands and letters until we get the long for demand for payment from one of them then our bancruptcy process can start for both of us. so far we have stopped payments and changed our phone number with bt. at least all harrassment can only be done by mail as baliffs have been banished in bonnie scotland!:j


just a recap bancruptcy is something neither me or hubby envisenged but things got so bad we had no choice-see previous thread