Welcome to the forum claire123.

I'm really sorry to hear that you find yourself in this difficult position again.

There's no restriction on entering another trust deed. As you'll have already discovered when entering a second trust deed in 2008, your creditors are likely simply to review the facts of your case and make a judgment based on the situation as it is today (rather than connecting it to 2002 or 2008).

I think your creditors will simply review your trust deed for acceptance using their standard acceptance criteria. Good trust deed providers will be able to give you advance reassurance about whether you meet those criteria or warn you if there might be some possible objections.

If there is no overdraft on your joint account when your trust deed begins then your partner will not be told about your trust deed for that reason. Do you owe the same bank any money for other debts?

Please keep asking if you have further questions - it's best to gather as much information as possible.

Hi claire123,

I have a number of clients who have required more than 1 Trust Deed for various reasons. It's unfortunate to find yourself in this position again but the positive is that there are solutions to help you clear the debt.

In my experience there haven't been any problems with these Trust Deed proposals as long as they meet the criteria set out by creditors.

The first thing to do is work through an income and expenditure with an expert to establish what you can reasonably afford to pay per month to a plan.

You already know how a Trust Deed works although there have been some changes since your 2nd Trust Deed in 2008. These are mainly changes to do with expenditure guidelines and creditor acceptance criteria. A good knowledgable expert will be able to explain these to you.

As TDA has advised if you don't have any debt with the bank you have a joint account with them your partner shouldn't find out about the Trust Deed.

If you have £22,000 of unsecured debts then I think you will require a Trust Deed, Sequestration or a Debt Arrangement Scheme.

Thank you both very much, just feel silly for letting it get this bad again.

Regarding the fact that I am not behind on my payments or anything "yet" would that go agenst me? What I am trying to find out is do I have to wait until I'm strugglying before applying?

We do have a OD but hoping to clear it before it's only £200. My bank account provider is not one of the companies I'd due.

Thank

Hi claire123,

You don't need to be behind with payments to be able to apply. For a lot of people they are up to date and haven't missed a payment but are predicting they will start to struggle in the future.

As the others say, I very much doubt you would have any problems setting up another trust deed, as long as you can afford enough to meet the usual acceptance criteria.

Try not to let it worry you - nobody here is here to judge.

Great thanks, can you please give me a template for the monthly budget as I only work part time and hubby pays most of bills, I am unsure of what I would be paying per month. Think I could pay £100 to £150 ish.

Thanks

Essentially the full household income and outgoings should be set out (without any unsecured debt repayments included) and then whatever is left over would normally be split between you pro-rata, based on how much each of you are contributing to the household income.

I'm afraid it can get a little complicated depending on the exact situation though claire123, and I'm not sure a template would necessarily be of much use to you. I'd recommend getting in touch and going through it together with one of the experts.

Hi claire123.

If you get in touch (click the contact TDA button in my signature or give us a call) we'll email you a budget form you can use to work on. Let us know your username on the form if you use it so we can make the link.

It's not really a substitute for speaking to an adviser (because guidelines apply for certain types of expenditure) but it could well be a useful starting point for you.