Hi Stretch and welcome back.

Our experts may have a different view but I think you should be very careful about making this decision.

To become protected your Trust Deed needs to be acceptable to the creditors. I'd suggest that a creditor that had just had a load of debt transferred to them might not feel terribly supportive towards you if you quickly tried to get them to agree to a Trust Deed afterwards.

I can see your point about credit records and mortgages in the future but it seems to me to be a pretty risky strategy.

Hello again Stretch.

A good question, and it raises an important point.

Generally speaking, only having to sign one trust deed will be better than both partners having to do one. However, you are right to worry about the legality of this plan - if you are switching debt into your name with no intention of repaying it then this could be construed as fraud. You should only be doing this kind of thing if it was truly to try and reorganise your debts to make them easier to repay, not if you are intending on entering into an insolvency procedure such as a Scottish Trust Deed.

Hi thanks for that...i know this is a Td website , but is it different under a Das ?
I can see now how the creditors wouldnt be happy with this method , but im just trying to think of some possible plans to put into action !

Thanks again....

I think the same concern applies with DAS Stretch.

Creditors are asked to agree to the proposal. I think your idea regarding a course of action could affect willingness to agree.

If they do not agree "then the DAS administrator can still approve the debt payment programme if it is fair and reasonable to do so".

As per Kevin's comments I'm not sure your idea/scenario would fit the "fair and reasonable" criteria and may open you up to scrutiny that you'd prefer to avoid.