Welcome to the trust deed forum remlas.

Depending upon your circumstances you may qualify for a protected trust deed. It will depend on things like your total debt level, how much you can afford to pay towards the debts each month, and what assets (such as equity in your home) that you have.

With £15000 of equity there is a second question to consider. Even if you did qualify would you want to sign a Scottish trust deed? The reason is that if this equity figure is confirmed by the trust deed firm valuation you'll then need to find a way to pay the money over (or half of it if the home is jointly owned) as well as any monthly contributions.

However, it's still worth looking into the option as many people find that the valuation used for trust deed purposes comes in at a level below their expectation.

Could you tell us why you cannot get a DAS (debt arrangement scheme)? That information may well be relevant to the situation where you are considering a trust deed as well.

A lot depends on the exact figures as to what you can afford, how much your debt is and how much the equity turns out to be. As trust deed assistant says, allowances can be made when assessing equity so it may not be as much as you think.

Hi
I defaulted on the DAS then reapplied and was not accepted because 3 of my creditors objected.

Hello remlas.

I'm sorry to hear that your DAS was rejected by creditors.

How much were you offering to pay each month via the DAS?

How much do you owe in total?

Hi remlas

do you feel your payments were set too high? Why did you not manage the payments/ I would suggest you have a face-to face meeting, where you can be advised on the best option. A Trust Deed may be a possibilty, but you have to know how much equity there is, and how the Trustee is going to deal with it, before you sign anything.