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Scottish Trust Deed Forum
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Topic starter
19/01/2011 11:23 pm
Hi,Is their a minimum set payment when entering a TD? What would a creditor look at as an acceptable % of paying of your debt on a monthly basis for a TD to be approved?
20/01/2011 8:55 am
Hi Lucky16
the answer is no. The payment needs to be calculated based on income less expenses and take into account the level of debt also for minimum dividend. The IP would also need to take account of fees, plus the outlays which are several hundred pounds and VAT at 20%.
Do you know the total debt and what you think you could afford? This would give some indication.
Regards
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
20/01/2011 3:21 pm
Hi Mark,
Total debts are around ?ú34,000 and have a surplus of ?ú200-?ú225 per month.
20/01/2011 3:49 pm
Hi lucky16
It would be a wee bit tight, but I see no reason why it wouldn't go through. Sometimes it a case of juggling figures.
There are set costs involved in Trust Deeds which are unavoidable to the IP, so its just a case of reducing the fee I suspect to make it work.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
20/01/2011 4:06 pm
Hi Mark,
Would it be possible to make an appointment to see you at your office? I would be available any day next week if you have any appointments.
Thank You
20/01/2011 4:09 pm
Hi Lucky16,
Mark and the other experts can be contacted forms on their "profile" pages. I'm sure that any of them would be happy to meet with you very soon.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
