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

By twig
#40908 Hi all, new to forum and trying hard to face up to my debt problem but sort of frozen into passivity by fear of the future. I have a telephone appointment with CSSSon the 23rd this month, but strugggliung to pul all the paperwork together as I keep procrastinating (I know that sounds daft but I just feel like I'm going under)

Also concerned now that I've read here CSSS may not be the best option for me - should I go ahead with this or go for the scottish money advice which I've just had a look at thanks to the link here.

Finally, I'm nearly sure from my research to date that the Trust Deed will tturn out to be 'best' option for me, but really struggling to keep paying everything now - so far not defaulted on anything but only by digging deeper into the debt hole every month as payments are now more that I earn. So tempted to just cancel the lot but terrified of the consequences. Any advice will be greatly welcomed. Finally - and I don't know if this is an appropriate question - if not please ignore, but can anyone recommend a good IP in either Greenock or GLasgow areas - I am totally on my own with no one to help or accomapny me and I am so thick about all this stuff I am scared of being bamboozled. Thank you.
By GR
#40911 Hi twig,

There have been differing opinions about CCCS. However, you have nothing to lose by going along and listening to what they say. You are not obligating yourself to anything and they may make your options clearer.

The fact that you have not yey defaulted on any of your creditors is something on your side. Also, take comfort in the fact that you are actually taking steps to sort this mess out.

Try not to panic too much - easy for someone on the outside to say - but a lot of people on this site have been there and know exactly how you feel. Likewise, we all made it through without much pain!! :)

If have a contact of an IP in Glasgow. He will come to your house, sit down, discuss your finances and tell you your options and how a Trust Deed works. There is no 'hard sell' at all and I found them VERY helpful.

If you're interested PM me and I'll send you the contact details.
By JLP
#40928
twig wrote:Hi all, new to forum and trying hard to face up to my debt problem but sort of frozen into passivity by fear of the future. I have a telephone appointment with CSSSon the 23rd this month, but strugggliung to pul all the paperwork together as I keep procrastinating (I know that sounds daft but I just feel like I'm going under)

Also concerned now that I've read here CSSS may not be the best option for me - should I go ahead with this or go for the scottish money advice which I've just had a look at thanks to the link here.

Finally, I'm nearly sure from my research to date that the Trust Deed will tturn out to be 'best' option for me, but really struggling to keep paying everything now - so far not defaulted on anything but only by digging deeper into the debt hole every month as payments are now more that I earn. So tempted to just cancel the lot but terrified of the consequences. Any advice will be greatly welcomed. Finally - and I don't know if this is an appropriate question - if not please ignore, but can anyone recommend a good IP in either Greenock or GLasgow areas - I am totally on my own with no one to help or accomapny me and I am so thick about all this stuff I am scared of being bamboozled. Thank you.



Have you looked at the Debt Arrangement Scheme? Its also a "diligence stopper" and you can repay your debts in full BUT at a level you can afford. Once creditors have accepted it they CANNOT ask you for more money just because they fell like it and it would protect your assets (assuming you have any). Trust Deed is and should be used as a last resort.

I do not have a problem with CCCS, they just never seem to mention all options such as Debt Arrangemenst Scheme, thats why I recommend face to face advisors.
By Anne77
#40975 hello,

I have recently entered into a trust deed and as far as I am aware and I did a lot of research a Trust deed is the best option only if you have no assets such as a car or a house. Depending on your debt doing a debt managment plan will allow you to pay off all you owe but it would have taken me more than ten years and it still affects your credit rating.
The best advice I can give you is to go to the Citizens Advice Bureau, it was the best thing I ever did, I didn't have anyone to go with me to the IP's etc either but the people from the CAB set up meetings with the IP's in the bureau and helped structure things so that it would work out best for me. I found that the CAB are the only people who are 100% on your side as they are not profiting from anything or following goverment policy.

Best of luck!

Anne.
By twig
#40976 Thank you very much for your speedy responses - I really can't tell you how much it is helping me to talk to people who know what this feels like.

The DAS scheme will not be appropriate for me I am quite sure - I owe to much now and at my age (53) I'd never be able to pay it off before retirement even supposing they would let me.

I do not own my home, but am a council tennant. I do have a car which is essential for my work and is 8 years old now.

Anne, do you mean that someone from CAB sat in with the IP and yourself? That would be so helpful as I am so scared of doing this alone.

There are many reasons why I've got to this stage, not facing up to things years ago is very much one of them, but also got stung years back when I tried to improve my situation and terrifed of doing that again.

I would really like to go bankrupt but know I cound'nt cope with all the calls and letter - I am already quite ill with the stress and the main reason I keep going is my work. I really, really don't want them to know and I have read elsewhere they will phone you at work too.

I understand about it being a last resort but I am there - I am never going to buy a house at my age now and I never want to have credit again anyway so what else is there to lose?

I do worry about emergencies, about my family finding out, and all sorts of things I am sure many of you will understand, but my credit rating is the least of them.

I genuinely believed I could find a way out of this but have just fallen into the trap of borowing more and more, encouraged by all sorts of offers and indeed still getting them daily though now they go straight in the bin.

Sorry for going on a bit, but the relief of talking about things after keeping them bottled up for so long is something else. Thanks againxx
By Anne77
#41009 Hello Again,

In answer to your question someone from the CAB did indeed sit in with my meeting with the IP infact they arranged everything including the budget presented to the IP. The CAB have experiance with dealing with various IP's and use those that are more sympathetic in my opinion.
If you don't own a house and have a car which you can prove is essential for work then a trust deed would probably work fine for you, but you should really speak to the CAB before you make any decisions.
I have not long signed my trust deed and have not recived many letters or calls as yet however I too am concerned about that from what I can gather it is very likely that you will get a certain amount of these calls and letters, however all you need to say is that you have signed a trust deed and that all corrospondance must be directed to your IP. It appears to take them some time to update their records so these letters and calls may continue for a couple of months.
I live with my parents and am dreading them finding out about my trust deed but in the past before had signed the TD I had seriously considered suicide, that may sound dramatic but I'm sure many people here who have experianced the hell of unmanagable debt have felt the same. I imagine most families while they might be shocked and disappointed to find out about your insolvency would rather you had chosen to go bankrupt than suffer so.
It is only money and I for one have learned my lesson about it, however I do think that creditors have some responsibility to take for the ruthless way in which they market thier loans and credit cards in a society where the desire for instant satisfaction of any need or want is the norm.
The companies that are sending you the offers of loans etc through the post know that many people are in dire circumstances and are hoping to cash in on peoples desperation.
The rates of personal Insolvency are rising all the time and you would probably be surprised by the amount of people who are been through it, it just isn't spoken about.

Call CAB tomorrow and arrange an appointment to see their financial advice officer.

Take Care,
Anne.
By JLP
#41081 Hi Twig

Yes the majority of us face to face advisors will sit in with you when you have a meeting with your IP. And we do use IP's that will be sympathetic to your needs. We also use IP's that will be honest with you and your needs.

If you have no assets- which I wanted to check before you signed anything....... :wink: , then it will probably be the best option. I dont think they will be the slightest bit interested in your car due to the age of it.

As Anne says-personal insolvency , Trust Deeds and Debt problems are very very common and no they arent spoken about. No one likes to admit their problems do they.
By JLP
#41082
Anne77 wrote:Hello Again,

In answer to your question someone from the CAB did indeed sit in with my meeting with the IP infact they arranged everything including the budget presented to the IP. The CAB have experiance with dealing with various IP's and use those that are more sympathetic in my opinion.
If you don't own a house and have a car which you can prove is essential for work then a trust deed would probably work fine for you, but you should really speak to the CAB before you make any decisions.
I have not long signed my trust deed and have not recived many letters or calls as yet however I too am concerned about that from what I can gather it is very likely that you will get a certain amount of these calls and letters, however all you need to say is that you have signed a trust deed and that all corrospondance must be directed to your IP. It appears to take them some time to update their records so these letters and calls may continue for a couple of months.
I live with my parents and am dreading them finding out about my trust deed but in the past before had signed the TD I had seriously considered suicide, that may sound dramatic but I'm sure many people here who have experianced the hell of unmanagable debt have felt the same. I imagine most families while they might be shocked and disappointed to find out about your insolvency would rather you had chosen to go bankrupt than suffer so.
It is only money and I for one have learned my lesson about it, however I do think that creditors have some responsibility to take for the ruthless way in which they market thier loans and credit cards in a society where the desire for instant satisfaction of any need or want is the norm.
The companies that are sending you the offers of loans etc through the post know that many people are in dire circumstances and are hoping to cash in on peoples desperation.
The rates of personal Insolvency are rising all the time and you would probably be surprised by the amount of people who are been through it, it just isn't spoken about.

Call CAB tomorrow and arrange an appointment to see their financial advice officer.

Take Care,
Anne.



And Anne-glad to hear that you are feeling much better since you signed your Trust Deed. Has it become protected yet?
By Anne77
#41106 Hi JLP,
Thank you I do feel better since I signed the trust deed it isn't protected yet but I have done all I can do for the time being so I am trying not to worry too much!
I am trying to focus on the future for the 1st time in years although at times I still get stressed about it all. I just wanted to come back here and share some of my experiances with people going through the same thing as me as I found this site such a help when I was very low and anxious before deciding to go through with the trust deed. I think even just knowing that other ordinary, decent people have financial problems helps you feel less alone.
I hope you and all the other regular posters to this board know what a good job you all do in helping people who feel they have no options left.

Anne
By kiltedscot
#41162 I am on a Trust Deed, and it only seemed that all the letters stopped once it became protected.

I come in every night, still looking for letters, it is so strange, none coming through, but good. Just the usual bills now. That i one thing that will be a nice chnage to make.

I have no property, and my car is old and needed, all mentioned on my TD, but nothing to worry about.

I had 2 meetings with my IP, the first going over everything, and the second was a home visit, but it was all relaxedon their part, no looking down noses, I ha this thought they woold be going through all my cupboard etc looking for stuff. Then getting told it was protected took time to sink in, 3 years, no more debt, and start to plan life again,

All the best.

KS
By twig
#41243 Just want tosy thanks again - you have beeen so helpful and so reassuring and have helped me get things into perspective a bit. Yes Anne, I have been suiciadal at times it has seemed like the only way out but I have children, well, grown up ones, and I just could'nt cause them the grief. But knowing there are others out there who get through is a lifeline to me and your thoughs, experiences and advice have made a big difference to how I feel. I'll keep in touch, xx
By JLP
#41295
twig wrote:Just want tosy thanks again - you have beeen so helpful and so reassuring and have helped me get things into perspective a bit. Yes Anne, I have been suiciadal at times it has seemed like the only way out but I have children, well, grown up ones, and I just could'nt cause them the grief. But knowing there are others out there who get through is a lifeline to me and your thoughs, experiences and advice have made a big difference to how I feel. I'll keep in touch, xx


And I hope that all you lovely people that have been through it, continue to post and give help to others as well. Reassurance from people that have been through the process can be worth its weight in gold on this board........ :D

Its always nice to have advisors-but some people need that bit of emotional support too (that I cant always give cos I have to try and stay detached or I couldnt do my job)