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Scottish Trust Deed Forum
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Topic starter
28/02/2010 1:48 pm
Hi all, I wonder if you can give your expert opinion of the minimum acceptable dividend figure, where all the creditors are credit card companies from major high street banks(around 12 different banks, total debt around ?é?ú80k, and possible contribution can be around ?é?ú400/month, no assets). Is there a set percentage figure for each bank i.e. 25%, 40%, 50% etc. May 15-20% dividend be sufficient enough to get a protected trust deed?
Due to change in circumstances, found myself in a situation that I did not want to be in and will be unable to keep current repayments in the coming months.
Worried that sequestration may be the only option if PTD is a non-starter.
Thanks
28/02/2010 9:50 pm
Hi edinburgh1
Different creditors have different criteria for assessing trust deed proposals, but from the information you have given I would certainly expect that you should be able to successfully set up a protected trust deed. Moreover, I would say that a trust deed is very well suited to soemone in your circumstances - with high debts but no assets and a reasonable level of spare disposable income. Unless your situation is likely to change for the better, a debt payment plan would take a very long time.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
