Lionheart,what firm have you used,and was there a reason you didn't go down the bankruptcy route? Can you confirm benefits are your only source of income?

Did you get a 2nd opinion on your best way forward?

Paul

Hi plasticdaft.

I think lionheart45's trust deed has been based solely on contributing equity from a property that they are happy to sell. With that in mind the source of income is less relevant than usual.

But if the equity is going to pay little to creditors a chunk to an insolvency firm isnt bankruptcy a better option?

Paul

That's really a matter for the creditors plasticdaft when they decide whether to allow it to become a protected trust deed.

Bankruptcy involves fees and costs as well, and creditors will be looking to make a commercial decision.

I chose not to go down the Bankruptcy route because house is in joint names and my husband,,,who I'm seperated from and is still paying mortgage..wants the most he can get from sale of house......so if I went down bankruptcy route ,it would have been sold for minimum .He wouldn't agree to that.