Welcome to the forum mperezjm.

I think the first thing to say is that a protected trust deed isn't necessarily your only option to deal with these debts. Once you reach out for direct debt advice you may find that other debt solutions will suit your needs and circumstances better.

You cannot easily leave a trust deed if your income increases (it's a binding legal agreement between you and your creditors). What will happen instead is that your trust deed payment will increase so that more of your debt gets repaid.

If you expect a large increase in income over the next few years then a debt solution like the "debt arrangement scheme" might also be an attractive option.

Hi thanks for the reply. Well going to wait and see what my trustee say.

This debts are just starting to affect my mind amd health.

Thanks again

Hi mperezjm.

Prioritising your mental and physical health is certainly the best course of action.

A lot of people tell us that they feel much better once they've received debt advice and can see a sensible way forward that will resolve their financial problem.

Defo Yes it was. I could see a light at the end of the tunnel after listining my debts were not that bad and could be sorted. Thanks for the reply again.

quote:

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Originally posted by TDA (Debt Adviser)
[br]Hi mperezjm.

Prioritising your mental and physical health is certainly the best course of action.

A lot of people tell us that they feel much better once they've received debt advice and can see a sensible way forward that will resolve their financial problem.

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Mperezjim

If you feel that you will be in a position to pay higher payments during the next few years then perhaps a Trust Deed isn't a suitable option for you.

For example, if you pay 12 months at £150 and then increase payments to £250 for the remaining 36 months then you will pay in a total of £10800.

A DAS may be a more suitable option that might help you achieve you paying off your debt quicker.

I would take a step back and explore all options.

p

Hi Paul. Yes Im on my way to breath again, Theyre telling me the best option for me tomorrow. But I can now say i can see a light at the end of the tunnel again.

Thabks for the advice

quote:

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Originally posted by Paul McDougall
[br]Mperezjim

If you feel that you will be in a position to pay higher payments during the next few years then perhaps a Trust Deed isn't a suitable option for you.

For example, if you pay 12 months at £150 and then increase payments to £250 for the remaining 36 months then you will pay in a total of £10800.

A DAS may be a more suitable option that might help you achieve you paying off your debt quicker.

I would take a step back and explore all options.

p

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Ask plenty of questions mperezjm.

It's not always at all clear what the best option is. There's likely to be more than one option and each of them is likely to have different advantages and disadvantages (both in general, and for you personally).