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Scottish Trust Deed Forum
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Topic starter
28/03/2016 3:21 pm
I am currently 3yrs into my deed. 1yr to go. I do own my property but very little equity which will be re mortgaged at end of deed.
I am ashamed to say I have got myself into a mess again by running up a large amount of debt. Around 20k I`m not going to make excuses as I know I have been a total idiot.
I don`t know what to do. I am up to date with all payments but I am struggling and know I will soon run into problems. I dont Know where to turn.
Could I have a second trust deed running before my current one finishes?
28/03/2016 5:18 pm
Sounds like one for the experts. I do not know if sequestration is an option by allowing the trust deed to fail then take it from there. I am surprised you were able to access that amount of credit during your TD. I can`t even get a mobile phone contract and im discharged 1 year come next month.
28/03/2016 8:41 pm
Welcome to the forum drowning47.
I'm afraid there will not be two trust deeds running at the same time.
At this stage the best thing might be to come clean to your trustee and ask their advice about where things can go next (and what the consequences of that might be).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
29/03/2016 9:28 am
Kdog7 might be right, your best option might be to go into sequestration instead, however you are unable to do this without your trustee's involvement.
Maybe best to take a deep breath and call your trustee to discuss.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
