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 daviebicky
#56347 when i was in dmp i was paying 380 per month and after going into trust deed i now pay only 200-and debt free in 3 years :?
By GR
#56388
daviebicky wrote:when i was in dmp i was paying 380 per month and after going into trust deed i now pay only 200-and debt free in 3 years :?


Exactly! I was with Baines & Ernst. We paid £450 to creditors and £400 per month to B&E for the privilege of allowing them to pay our bills. We were scraping an existence every day. Signed a TD and paid £180 pm and although our life wasn't rosey, at least we weren't scrimping avery month.
By twig
#56773 I did my I & E with CCCS initially and it was very tight though I reckoned I could get by, but I.P. agreed it was tight and actually increased some items like food, optician, and sundries so that it came out at a much more acceptable rate. I have no problems with what I have been left with, the peace of mind I've got is priceless and I am actually quite enjoying having control of myown money again and budgeting and saving for bills instead of paying it all to exorbitant interest rates.
By twig
#57189 Thanks Mel - as someone who was literally at the end of her tether when I came here, I still find it hard to believe how much I've changed my outlook. Could not have done it without yourselves - you gave me courage. I hope I can help others to find it too. :) TwigXX
By peter pollock
#66644 Hi

BEST THING TO DO FOR YOU WOULD BE TO APPLY FOR A TRUST DEED

nOT HAVING ANY EQUITY , EVEN IF IT WAS TO FAIL THE IP WOULD APPLY FOR SEQUESTRATION

THE FACT THAT YOUR CAR IS WORTH ONLY £1.000 IF YOU WENT INTO A TRUST DEED YOU WOULD GET TO KEEP IT

yOU WOULD NEED TO CONTRIBUTE TO A MONTHY PAYMENT FOR 3 YEARS IF THE TRUST DEED GOES AHEAD

rEGARDS
PETER