Hello lorgar and welcome to the Trust Deed forum.

I appreciate that you must be very worried. Everyone here will do all they can to help you.

It is certainly possible to enter into Trust Deeds with the level of debt that you have.

All of your creditors would need to be included if you went ahead.

We know of many people in financial services who have been able to enter into Scottish Trust Deeds without it affecting their employment. The nature of your employment does however mean that you will want to be careful. Are you employed or self-employed?

Are you homeowners? If so, how much equity do you think there is in your home?

After you have paid for all of the essentials (mortgage/rent, council tax, utility bills, travel, food etc) how much do you think that you can afford to pay towards your debts each month?

Hi Lorraine

There is no limit on how much debt can be included in a trust deed - though if there are a lot of debts then you are likely to have to afford higher contributions in order to give a reasonable return to creditors and get the trust deed protected. The refinanced debts would certainly need to be included too.

Regarding your job, I cannot promise that you this would not be adversely affected by entering into a protected trust deed. You would really need to check for yourself with your employer/with the FSA as to what their policy is. I'd be interested to find out what they say lorraine, so please do let us know.

Hi Lorraine

Kevin is correct re the employment. I have a number of cases with IFA's and the Trust Deed hasn't had any detrimental effect. But belts and braces, it's always best to double check with employers.

Mark

hi would like to proceed how do i do this???

Lorraine

Hi lorgar,

You will need to select a firm of Insolvency Practitioners that handle this type of work.

There are plenty of these around but it makes sense to choose a firm that specialise in this "personal" area as they are more likely to understand what creditors will expect from a Trust Deed, and therefore the Trust Deed is more likely to become protected.

If the advice of any of the experts on this forum particularly appeals you can contact them using the link in their forum "signature" or via contact forms on their profiles. All have received positive feedback in the forum from people that have used their services in the past.

Good luck with everything.