Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

#28611 Hiya John

Fisrt of all dont panic. Your I and E looks a bit tight as you have not allowed for emergencies, eg minor socialising,haircuts,Xmas,Birthdays etc.

Going by your figures (which I have said are tight) it will take you almost 12 years to pay off your debts.

Your options are thus:

Informal Repayment Plan

Trust Deed

Debt Payment Programme (only available in Scotland)

Sequestration (Bankruptcy)

Trust Deeds and Sequestration are last resort solutions. Plus I really dont think you have enough disposable Income to sustain one as most IP's require a minimum of £100 per month.

A formal DPP programme will take 12 years to pay, may be hard getting courts to accept it.

Can you increase your Income in any way? Perhaps by better job. I wouldnt take a 2nd job as you will kill yourself (take this from someone who as a Student had 3 jobs......... :? )

At this point I am only pointing out the options available to you.To get specialist advice on your circumstances please look at this site. ... agency.php

They are all free advisors.

Good luck and let us know how you get on.
By johnlarsson
#29140 thanks very much
Last edited by johnlarsson on Wed Nov 23, 2005 2:46 pm, edited 1 time in total.
johnlarsson wrote:I got a link via tha above website to a National Debit line. it let me download a pack with a lot of information on it..

it told me to draw up a i and e sheet and work out how much I can afford to pay each company and send it to them. Which I have now done.... fingers crossed they all agree..

if any dont and I get taken to court. Can they court order me to send my HP car back and use the money from that to pay off more each month?

No- they cant order you to send your car back, only if you dont pay your HP agreement they can repossess (may need a Court Order depending on how long you have had agreement) Or if you file for Bankruptcy and sometimes Trust Deed