Hello newsm and welcome to the trust deed forum.

Do you have any thoughts on how much you could afford to pay towards your debts each month (perhaps via a trust deed) after you have paid for all of the essentials that you need to pay for?

Are you property owners? If you are could you tell us how much your home is worth and how much is owed on any mortgages?

That information will help us to confirm whether or not a trust deed might be appropriate for you.

It would be normal to look at all of the income and expenditure for the household if you were looking to do a trust deed (or indeed any other debt solution). That's simply to make sure that each party is bearing their fair share of the household costs (otherwise your creditors might be getting a raw deal, or indeed your husband might be getting a raw deal). His costs will of course be taken into account as well.

I could afford roughly £300 a month and am a council tenant, my husband earns less than me and this is the reason I pay the rent, council tax etc as I think after his bills he has roughly only £100 spare

Hi newsm.

From the information provided it looks as though a number of options might be available to you.

Working through the numbers with a suitably qualified adviser should put you in a position to make an informed decision about how to proceed from here.

Hi newsm

TDA is correct, while your husbands wages are taken into account in the overall calculations, he is still allowed his own personal expenses. From the info provided, there may be a couple of options suitable.

Mark

Sorry for being slow , I realise I will have to show proof of my wage and outgoings but will I have to get this off my husband aswell

Hi newsm.

I think different trust deed providers might look at that in slightly different ways, but they will (one way or another) need to make a fair assessment of household income and expenditure.

Thanks TDA for your help, I'm worried as my husband isn't the greatest at keeping correspondence, so although I could bring in a payslip it would have to be printout statements from his bank account at most 🙁

I'm off next week Tues to Thurs so will contact a debt help company and speak to some-one about the best option and I can't keep being this worried or stressed

It's a good idea to speak to someone newsm so that you know where you stand. This is likely to bring you some relief in itself.

As you need to know specifically what correspondance you will need it might be best to speak with a trust deed provider (that you would consider using) directly rather than a more general debt help provider.

Thanks for your advice I have spoken to a very woman and have someone coming to see me Monday about a trust deed, I think it was scary as i had to admit to myself & hubby the full scale of the problem after I did that (and hubby was brilliant about it) the relief was great

Hi Newsm

That's great to hear that you have taken the bull by the horns. Just make sure that you have everything in writing and that you fully understand the procedure before you sign any documentation. If you have any other questions, once you have met with the advisor, feel free to ask us.

Julie

Julie

It went really well today and feel alot more calmer, was told that because LLoyds tsb had most of my debt they might not agree, so was talked through all the options. company is CS Corporate solutions, guy was brilliant

Hi newsm

Glad to hear that your meeting went well today. Sometimes just talking it over with an advisor puts your mind at rest!

Julie

Lloyds TSB are usually no problem to deal with, newsm, as long as your proposals meet their minimum criteria. Presumably your adviser will know this, so no need to worry too much.

Thanks I'm going to be paying back 40pence in the pound which the company has said is good so everything is crossed