Trust deed help.

dee9

Hi all just a question. My finances are total mess and i really do need to get control. Im sick with worry and it looks like a trust deed is the only way out. However i have £250 i pay per month to my car but its in my dads name as i couldnt get the finance. I understand i wont be able to list this as a payment so im just really concerned that they leave me with next to nothing per month to live on. Is there anyway i can list this as a debt the car even though it doesnt come out my account?

thanks so much in advance

sourcrates

List it as a car payment ????

If it's a genuine expence it shouldn't be a problem.

dee9

sourcrates wrote: »

List it as a car payment ????

If it's a genuine expence it shouldn't be a problem.

Yes but its in my dads name and comes out his account and then i pay him. The reason for this was he got the finance in his name for me as my credit rating is ruined.

dee9

Anyone else have a view on this?

sourcrates

Ok,
So a trust deed is like for like, the Scottish equivalent of an IVA.

You work out your statement of affairs, your income, your expenditure.

Everything you pay out money on, you just list the £250 car payment to your dad as one of your expences, it's as simple as that.

If they ask what's this ? You tell them it's your car payment, I can't see your problem here ?

I have been through an IVA, I had no problems with ex gratiia payments to 3rd parties.

dee9

sourcrates wrote: »

Ok,
So a trust deed is like for like, the Scottish equivalent of an IVA.

You work out your statement of affairs, your income, your expenditure.

Everything you pay out money on, you just list the £250 car payment to your dad as one of your expences, it's as simple as that.

If they ask what's this ? You tell them it's your car payment, I can't see your problem here ?

I have been through an IVA, I had no problems with ex gratiia payments to 3rd parties.

The problem is i dont have any direct debit set up going into my dads account or anything like that ie no proof. I phisically go to the cash machine when i get paid and lift the money and hand over to him. The man i spoke to on the phone claimed thats my dads debt as its in his name so i have and extra 250 per month that they would not take into consideration.

sourcrates

dee9 wrote: »

The problem is i dont have any direct debit set up going into my dads account or anything like that ie no proof. I phisically go to the cash machine when i get paid and lift the money and hand over to him. The man i spoke to on the phone claimed thats my dads debt as its in his name so i have and extra 250 per month that they would not take into consideration.

So set up a Standing order then ???