Just had a call from Trust Deed Scotland

coolcait

Hi again spuddy.


Looking at those figures, it's really hard to see how a trust deed would be the right option for you.


I hope that the adviser you see on Wednesday tells you about the Debt Arrangement Scheme (DAS) too. Or maybe you could try StepChange's online questionnaire, to check out your options?


DAS would freeze interest and charges on all of your debts, so you could easily pay them back over 4 years, paying less than you are just now.


It can also affect your credit rating - but as it's not insolvency, it will have less of an impact over the longer term.


Good luck with whatever you decide.

Spuddy27

coolcait wrote: »

Hi again spuddy.


Looking at those figures, it's really hard to see how a trust deed would be the right option for you.


I hope that the adviser you see on Wednesday tells you about the Debt Arrangement Scheme (DAS) too. Or maybe you could try StepChange's online questionnaire, to check out your options?


DAS would freeze interest and charges on all of your debts, so you could easily pay them back over 4 years, paying less than you are just now.


It can also affect your credit rating - but as it's not insolvency, it will have less of an impact over the longer term.


Good luck with whatever you decide.

Hi there,

Thanks for your reply, I agree, I don't think a trust deed is right for me at all. I think I basically got pulled in by the thought of having my monthly payments reduced from £600 to £200 and the fact both my close friends are glad theyve done it. I'm not usually easily swayed by things either, I always hang up on cold callers but I guess they must sense your desperation/frustration and just grab onto it. !!!!!!s :-(

I've checked my SOA again though as I definitely don't have £300 at the end of the month, there's always something that needs paying. For example this month I had £120 for my NMC to pay and in March I have £97 in council tax arrears that I wasn't aware of. Every month I always seem to have £300-£400 a month after bills but by week two it's gone! Perhaps i'll get a spending tracker app for next month.

Lx

Claree__x

Spuddy27 wrote: »

Thanks very much for your reply . How has your credit been since you finished your TD? My worry is that I can't get a mortgage for a very long time after it, but currently I can't save for a mortgage anyway.

Lx

No problem

I see that you're swaying away from it anyway but I thought I'd pop on and answer.

My credit rating was awful before I started my TD so it's not much of a comparison to yours. I maintained a mobile phone contract throughout and I finished the TD in December 2013 and have since built up from a Vanquis (sub prime) credit card and currently have an 18 months interest free CC from Tesco. My credit file still looks a bit dodgy but better than it would if I continued the way I was going as all of the defaults are pre-TD so will drop off in the next year or so.