Notifications
Clear all
Scottish Trust Deed Forum
9
Posts
4
Users
0
Reactions
1,816
Views
Topic starter
21/05/2012 8:19 pm
Hi Everyone,
I am new to this forum, so please be kind....
I am thinking that a trust deed may be my only option. I am needing some questioned answered if possible.
Do they always last 3 years?
Whats happens to debts like FLM Loans (AKA Amigo)? AS my mums details are on this?
What about brighthouse, loansathome4u etc
Whats happens to my car which is on credit in my mum name, but V5 is my name?
Will this cover council tax?
What sort of re-payments are required?
I don't know how much debt I owe or who I owe it too. Some of it is from when I was 16 / 17 I gave them a wrong DOB. We get 6 - 10 letters a day between us... how do i find out all my debts?
Thanks for you help...
Topic starter
21/05/2012 8:27 pm
I have just visited noodle and according to that I owe £9685 and £3914 in council tax. Not sure what my partner has yet.Will update
21/05/2012 8:29 pm
I wouldnt go near a Trust Deed try any other options! If i could go back in time I wouldnt have done it! Im even worse off now than before and cant get out of it!
Topic starter
21/05/2012 8:34 pm
quote:
Originally posted by debs1979
I wouldnt go near a Trust Deed try any other options! If i could go back in time I wouldnt have done it! Im even worse off now than before and cant get out of it!
how this happend
21/05/2012 8:38 pm
Your situation may be different from mine, I own my property and 3 years ago when signing the trust deed my property had around £15000 equity, now my property has decreased in value to the extent it is in negative equity yet I wont be discharged until I give them the £15000! Im in turmoil and dont know where to go for help on it I feel now I am in a worse off situation!
Topic starter
21/05/2012 8:49 pm
Oh no. Luckily I don't own my property
21/05/2012 8:57 pm
well it could be the way forward for you! Fingers crossed for you!
21/05/2012 9:12 pm
Welcome to the forum danieleve131.
The standard trust deed term is three years. For good or bad reasons they can sometimes be longer.
If you go into a trust deed (or other debt solutions) and have a guaranteed loan it's quite likely that the lender will seek payment for the debt from the guarantor.
If you have lending secured on goods you'll either need to carry on paying it or have the goods taken back. If the goods are essential it may well be OK to carry on paying for them.
In terms of the car, neither the name of the person on the credit or V5 is the most important thing. It's who owns the car that is important. How much is it worth? Is it on HP?
Council tax arrears are treated the same as other creditors.
It's approaching things the wrong way really to say how much is needed to fund a trust deed. I'd suggest liaising with an appropriately qualified adviser to find out how much you can afford. This will inform the adviser and therefore you about which options are available and potentially suitable.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
22/05/2012 10:10 am
Have you worked out how much you feel you can afford to pay towards your debts each month, danieleve131? As trust deed assistant says, this will go a long way to determing what options you have to choose between.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
