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Topic starter
17/07/2010 12:58 pm
hello i have had a good look around this forum and i am not sure how to go about things , i have lots of different questions hope someone can give me some help, i filled in an online form with debt advisory line one minute later they called told them details and said trust deed would be best option but after reading up it seems there are some dodgy companies about and not sure what to do , my current debt is around 11,500 to 5 creditors who i have been paying regularly although around 5000 of this debt has happened recently and will not be able to continue doing so , my debts arise from a gambling habit which i am now addressing , i dont have permanent address as live between dad brother and friends but always pay my way there , i am also in debt to family and friends and know this will not be taken into account but it is an outgoing expense which i must pay, i have money in bank just now which i intend to lift to pay towards the money to friends but dont know how this will look when and if i try for trust deed , also 1 of my creditors is lloyds tsb who i bank with and although my bank account is ok i also have a credit card with them so not sure if they will close account or not , just not sure what to do to try and get in control , sorry for the long post . thanks
18/07/2010 3:51 pm
Hi barneyboy
technically there's nothing to stop you looking at a trust deed although you would need to provide more details to ensure this is the best option.
The address thing isn't a major issue although a problem may arise if you get permanent accommodation and your expenditure increases. So it's something you need to be sure you can commit to.
Re the debts to friends etc, these can be included, but they would need to provide paperwork or other proof of debt.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
18/07/2010 8:45 pm
hello mark thanks for getting in touch , what kind of details would you like me to provide , in regards to money owed to friends what kind of proof would be required all friends and family would be more than willing to help in any way they can (they have done more than enough upto now)the least i can do is repay them , also the money that i intend to lift from bank to pay towards these family debts could this be looked upon negatively by creditors if i do go for trust deed , as far as committing to a trust deed i realise that 3 years is a long time but dont see any other alternative ,the recent 5000 debt was from gambling so this is a new debt on 2 cards and an increase on 1 so again dont know how creditors would look upon this although i have had balances on these cards before and have paid them off due to winning and again help from people , thanks for getting in touch
19/07/2010 9:47 am
Hi barneyboy
debts for loans, credit cards etc are easy to verify, while debts to family and friends are more difficult. You would need an agreement, or bank statements showing payments from their accounts to yours etc.
Any sums taken from your bank and paid to friends/family debts could be easily challenged by the trustee as an unfair preference. ie you are paying one creditor in preference to another.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/07/2010 10:03 am
thanks again mark is there any way that i can get in touch with you personally maybe email or telephone
19/07/2010 10:48 am
Hi barneyboy
Its Glasgow fair Monday today, so everywhere is closed.
If you fill in the contact thing under my posts with details of debts and contact nos etc, I'll ge in touch and see whats best.
Regards
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/07/2010 10:59 am
ok thanks i will do that
