Hi Susie

From the information provided, DAS may be the best option. This would freeze interest and charges and allow you an affordable payment over a set time period.

Mark

Welcome to the forum Davy2013.

With total unsecured debts of £3000 or so it's very unlikely that a trust deed will be the best option for you. Don't panic though as there will be other options.

Would I be right in saying that you'll be able to pay somewhere between £50 and £150 per month towards the debts once you've moved into your new home?

Did you include everything in your outgoings figure? For example, clothing, food, transport etc.

Hi Susie, thanks for your query.

A DAS (Debt Arrangement Scheme) payment programme is the most likely solution for you. Whilst £3000 can be a considerable burden shared between various different debts (especially if payday lenders are involved) it is not sufficient to merit a trust deed as the costs of running it would be even more than the amount of the debt.

Under DAS the interest would be frozen on your debts and you would repay them in full at whatever rate you can afford.

Hi all,

Thanks for your prompt replies, I would be able to pay between £50-£100 per month (I've just calculated my disposable income). Can you recommend how I would go around takin out a DAS?

Thanks, Susie.

There's two basic ways Davy2013.

Free.
Approach the Money Advisers who may work at your local CAB or might be employed at your Local Authority. They'll be able to set up a plan (and advise about other options like sequestration depending upon their view of your situation) without any charge.

Paid-for.
Some commercial operators offer DAS as well. There will usually be set-up and management charges involved.

Given the size of your debts and the amount of your disposable income the "free" approach should be your starting point in my opinion.

More about DAS and applying for DAS here:

https://www.trust-deed.co.uk/debt-arrangement-scheme.html

Hi Davy2013,

Welcome to the forum and well done on seeking some advice and assistance to deal with your debts. Often this can be the hardest thing.

Debt collection companies are notoriously difficult for a client to deal with. They just want paid as much money as possible and usually as you have experienced don't take circumstances into consideration.

As everyone else has said, a Trust Deed isn't an option due to your low debt level and the cost involved in administering the plan.

DAS would be the option that I would suggest and TDA has provided some excellent advice on how to go about setting this up and what to consider.