Trust Deed Advice!!

Steff90

Hi everyone! :j

After adjusting my income and expenditure sheets with Payplan the advisor has recommended I enter a Trust Deed.

I have been trawling the internet for advice/experiences but not really getting anywhere so thought I'd jump back to DFW for advice!

Has anyone been in a trust deed/currently in one?
One of my worries is my car. I have my car on PCP finance which I have only just taken out in May this year and ends in 4 years time (May 2022). My question is when this ends, there is usually the option to pay the balloon payment which I most likely won't be able to pay, or take out a new PCP deal. I'm worrying now as even if I do just hand the car back I'll be left carless and this is something I rely on for work and getting my son to school.
Has anyone ever taken car finance out while being in a trust deed? I'll still be in one when my car finance ends if I do decide to go ahead with a TD.

Also - if I do decide to go ahead with a TD, can I tell Payplan I don't want this to start until another 3/4 months? I know people can hold off a DMP for a few months while they build up an emergency fund, but can I also do this with a trust deed?

As always thanks for any advice. I'm not taking the possibility of a trust deed lightly believe me! But since it's been recommended to me by Payplan I am doing my research to make sure it's the right decision! And I trust the advice I receive on this forum

sourcrates

Hi,


Try not to open multiple threads on the same subject, just confuses people, i`ll leave the one in DFW open for you.


Thanks