Hi again HJAW.

I'm sorry that things have got tough again.

I don't feel comfortable about giving advice on the legal part of this situation, though one of the experts may choose to offer their thoughts or opinions when they next visit.

I read over your previous posts before responding, I think the first was in July 2010. You've obviously worked very hard to deal with your creditors directly to try and pay back what you can as quickly as possible, but they don't seem to all be responding in a way that reciprocates your good efforts and intentions.

When I read the word "depression" in your post I do wonder whether there would be a benefit, on a number of important levels, in having some protection from your creditors.

Hi HJAW

First thing to say is that if RBS do not accept your offer then it would be up to the sheriff to decide whether what you are offering is reasonable or not and can force them to accept it. How much are you offering and on what amount of debt?

I think that it does sound like a good idea to take a step back and consider your options all over again. Even if you do not wish to enter an insolvency procedure like a trust deed or a sequestration, if you could get a DAS plan set up successfully then you are protected from any creditors pursuing legal action in future.

I would recommend you seek advice as soon as possible, whether from one of the experts here or from a local money advice agency. The danger is that if you cannot get your time-to-pay direction approved then RBS may seek to carry out a wage or bank arrestment, which would in turn presumably jeopardise your ability to maintain the payments to your other creditors.

Thanks Kevin. The total debt to robs is approx 15500 with the intrest and charges now frozen I agreed to give them 146 per month meaning it will take approx 9 years to payback in full. They get the lions share of our availble funds approx 55% of it. But as smaller debts are paid off they get an increased amount.

The original amount was 21k over 7 years with approx 2.5 years done at full amount and 1year at reduced amount no payments missed we had no arrears with anyone before the stuff hit the fan so to speak.

I spoke to their solicitors today. She said her client has requested to get the decree with no deals to be done. I explained I don't mind them getting there decree but what then?
She was a bit non sure due thinks they will move to enforce it.

I did say my next step should be to get das or PTd in place. To get some protection.

So do you think they would put a block on a PTd also.

Thanks

Hi HJAW.

RBS, like other major financial institutions, are pretty clear with protected trust deed firms about what they will and will not accept.

I think if you started a DAS or trust deed process they'd view it in the same way as they usually would.

DAS could provide you with a period of protection from creditors while it is being arranged. A trust deed will not, until it is protected, so time would be of the essence if this is your chosen route.

Is there any company near the cumbernauld area that is recommended for a DAS that will not try to hide behind jargon and fancy accounting.

Thanks

Hi HJAW.

There are four companies on this site we feel comfortable featuring (they're not the only good firms though).

Those represented by Kevin, Shona and Chris all cover your area and also offer DAS as well as trust deeds. Hopefully you'll see from their contributions to the site that they're dedicated to explaining things in as clear terms as possible.

You could also approach your local CAB or Local Authority Money Advice team about handling a DAS for you.

Thanks TDA have contacted Chris as he seems to be the closest to me. Heres hoping he can help.

Thanks

Hello HJAW.

It's certainly good to know the options and then take things from there.

Hi Guys and Girls,

Thanks to the advice here we approached Wylie & Bisset with a view to doing a DAS but after a couple of talks with them (I don't like to rush into things), we talked through all the options and started to look more at the PTD route and again with more talking with them that is what we decided to do, as we already knew our house is in negative equity so no problems there. I am dealing with David Tannock at W&B and have to say. The plan he has put together sounds good to us, let's hope the creditors agree. They even gave us a letter for our day at court vs. RBS who wanted to reject our time to pay plan and move for decree. So we asked the sheriff for a 8wk continuance to allow the PTD to go forward. the Sheriff agreed. The local lawyer who turned up for the RBS never objected so that gives us time to get the TD Protected now. Really wishing I had followed TDA and everyone's else's advice and done this when I first joined the forum. But as the saying goes "there's no fool like an old fool".

Keep giving out the great advice. And I will keep everyone updated.

Thanks To One and All.

Hello HJAW.

What a lovely post. It's wonderful to hear that, after quite a long journey, you have found a way forwards to bring this situation under control and that you sound so happy and content about your decision.

It also sounds like Chris's team have done a wonderful job helping you come to this decision and going above and beyond to assist you with the legal situation as well.

Due to the nature of forums in general we do hear quite often about things not going so well with trust deed firms. Your thread helps to illustrate that there are also some great trust deed firms that work really hard to support their clients and get appropriate plans in place.

Best of luck to you and please let us know how things progress from here. Hopefully you'll be changing your username to head-well-above-water in a few weeks!

A great and postive step forward which will hopefully set your life back on track, get you out of a spiral of depression and put you on the road to financial recovery and better health. It's all onwards and upwards from here on in.

I wish you the very best of luck and assure you that the next couple of years will fly by and you'll be through this in no time at all and ready to start afresh.

(edited to correct spelling mistakes - doh)

sounds like the forum has again helped find someone a route out of the black hole of debt they found themselves in!!!

Good luck HJAW.

Paul