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Topic starter
09/04/2010 11:48 pm
hi all
I have been on a debt management plan for eight years now and at this rate my ?ú10,000 + outstanding debt will last forever. Is it possible to change over to a trust deed considering i have an arrangement with 15 companies through the DMP. I would really like to have an end date for this burden, even if it meant paying a bit more to a trust deed
Robert
10/04/2010 8:39 am
Hi Robert
the simple answer is yes. DMP's are ideal if the interest is frozen and you have a definite timescale to make payments. Otherwise it's an endless arrangement. Even a DAS proposal may suit.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
10/04/2010 11:30 am
Hi Mark
Thanks for your advice, i had never heard of a DAS proposal, it makes interesting reading. I'll be in touch soon to discuss further.
Robert
11/04/2010 9:45 am
Hi Robert,
If your DMP appears endless because interest and charges are continuing then DAS may well be a better route for you if it will result in the repayment of debt within a realistic timeframe.
The website of Money Scotland has lots of useful information about this option.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
12/04/2010 1:37 am
Thanks Amy
this is a really good forum for the debt inflicted such as myself, thanks or your comments and advice
robert
