Hi there New to the forum.

I took out a trust deed which became protected in January 2023 , this was something I had to do as my husband was made redundant and I had taken on a new business going from self employment to a being a director of a limited company alongside  a business partner 50/50 sharehold , in order to help the company I had to sacrifice a drop in income , which led me to having to sign a trust deed in order for the business to move forward . 

After 3 years of the running the business  I feel it's not quite meeting the potential I thought it would by now and my income is not sufficiently high enough to be able to meet personal living costs and helping out with household bills etc.

The everyday running costs of the business are atronomic, and thought by now my income would have increased, it's causing problems with my relationship at home and also with my business partner as she feels I've put the business at risk upon entering a trust deed which is turning a little sour , I do feel I need to do what is best as it's playing on my mental health and the pressure of running the business is starting to affect me physically and mentally.

After doing a lot of calculations to make sure a decision like this would not put my trust deed at risk (as that's the last thing I would do ) I feel it better to go back to self employment (chair rental) I am a 30 year served hair stylist and have a substantial client base and feel my income would be significantly higher, therefore being able to help with extra toward living costs and and trust deed alike.

 I would not  incur extra costs of running a whole building. My business partner knows potentially how hard this has been for me and is willing to let me rent a chair in the salon  as it would put me in a better financial position as she carries on with the business. I have them a little more freedom in applying for other regular paying Jobs if were needed without the complications of being a managing director.

My questions are,

1. is this a possibility for me?

2. how would it affect the business if my partner wants to carry on? ... (I can add that the business is in negative equity)

3. Do I tell my trust deed provider what I'm thinking about doing before I do this? Or after I have settled into something New?

4. If I am owed any funds from the business it's my understanding that my trust deed gets all of it? 

5. If so does do the funds go towards my original amount of debt? Or just what I would be paying my trust deed amount over the 4 years?

Appreciate any advice.