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Scottish Trust Deed Forum
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Topic starter
08/10/2010 1:30 pm
I have spent the past few months getting debt advice from a variety of places and a common theme is for me to get a trust deed. I came across this site and thought I would get some advice first, hope you can help.
My situation
- I live in a private let flat, single, no kids.
- Work full time.
- Have a car which I took out on Hire Purchase agreement in January 2009, over 5 years.
- Have 5 credit cards which are all maxed out and I'm now struggling to pay the minimum payments. Outstanding balance on cards is ?ú9500.
- Have an unsecured loan with my bank,, outstanding balance is ?ú9200, was taken out in March 2009 over 5 years.
- Approx. ?ú300 outstanding on various catalogues & store cards.
- Have tried to get a loan to consolidate credit cards but have been refused and even tried to get another credit card!!!!! Worst thing to do I know but now stuck in a terrible cycle of using one card to pay the other.
Any help and advice would be greatly appreciated.
08/10/2010 1:59 pm
Hi Lainey
Welcome to the forum, hopefully myself and the other experts will be able to point you in the right direction.
One of the questions that we will all ask is how much disposable income do you have once you have paid the essentials, i.e. rent, utilities, food etc every month?
Julie
Julie is not currently posting in the Trust-Deed.co.uk forum.
08/10/2010 3:27 pm
Hello Lainey and welcome to the forum.
As Julie suggests it would be really useful if you could give us your best estimate of how much you could offer towards the debts after all of your other essential expendiure is covered.
There are several possible debt solution options for you (of which a protected trust deed is just one); this extra piece of information will help us to explain which might be available to you, and what the associated positives and negatives of each would be for you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
