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Scottish Trust Deed Forum
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Topic starter
08/06/2010 11:30 pm
hi i am new to the forum i am ?ú13000 in debt i get ?ú800 a mth in wages but my out goings are ?ú700 the debt mangement company i am with has said that all i need to pay is ?ú25 a mth to the debt and that would be all plus ?ú25 a mth to the debt management company but surely there is no way the creditors will accept the ?ú25 between them i have 3 creditors for the debt
09/06/2010 9:11 am
Hello sam46,
Even if the creditors accept this (and freeze the interest) it will take over 43 years to repay the debt.
It might therefore be worth looking at some other options.
Are you a homeowner?
Do you own anything else of significant value?
The answers to these questions will help us to provide you with some further thoughts.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
09/06/2010 3:50 pm
Hi Sam46
TDA is correct. This appears to be a feeing excercise for the company. They will no doubt charge you an up front fee and then attempt (after their fee) to negotiate with creditors.
As TDS says, depending on circumstances there may be far better options available.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
