Hi andyw,

Welcome to the site.

Your debts seem to be at a level at which the contractual repayments are unaffordable (at least without taking on further borrowings)? As such it certainly makes sense to take action of one sort or another.

Childcare is typically an allowable expense in a Trust Deed; especially as often it's a prerequisite of being able to work.

Less formal solutions such as the DAS scheme or a debt management plan seem like they would take a very long time to complete.

As such I do think a Scottish Trust Deed might be appropriate.

I'd like to see Mark or Kevin's comments on the slightly uncertain nature of your employment......

Hi Andyw

Very generally the answer is yes the Trust Deed is an option as the debt figures and contribution at the levels stated seem ok. However you need to be sure that you can maintain the payments agreed, which I suppose is the point of the post.

When a TD is signed and there is unemployment, the Trustee can suspend payments to see if the individual gains other employment to resume payments. If the unemployment is long term he can convert the Trust Deed into a bankruptcy.

I hope this helps (a bit)

Mark

If there were an extended period of unemployment would bankruptcy have implications over and above those of the Trust Deed Mark?

thanks for your quick reply as this has been playing on my mind for ages.

i moved back from England to Scotland for my new family. i guess if i was made redundant i could do agency work in England as my skills are specialist and can earn good money, but for family reasons i dont want to go back down and i would not relocate my family.

i therefore think its time to try and resolve this by the trust deed route. can this site recommend anyone as i have done my research and there is some horror stories out there. i stay in Ayrshire. i need someone i can trust and provide full and frank information

cheers Andyw

Hi andyw,

The reason we feature Mark and Kevin on this site is that they as individuals, and their seperate firms, have good reputations.

Many previous visitors to the site have approached them and we have received excellent feedback.

Either can be contacted via their profile pages on the left-hand menu if you wanted to consider them as an option to handle this for you.

Thanks Amy