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Scottish Trust Deed Forum
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Topic starter
02/08/2009 1:09 am
Really need some information, currently I have debt to the value of ?ú30,000. This is a result of going to university for the last 7 years and having various loans and credit cards, etc thrown in my direction. I am involved in a debt management plan woth Payplan, they have been helpful but still I receive letters in the post and occassionally the 'forceful' telephone call from one of my creditors. I am able to pay a lump sum at the moment over ?ú400 per month but it will take me nearly 6 years to be debt free and then I have to try and regain some sort of credit rating. Just wondered if a Trust Deed would be a better solution?? Only thing I am worried if it was declinned, I work for the NHS?? and I am back home living with my parents now??
03/08/2009 8:15 am
Hi githie,
Welcome to the Trust-Deed.co.uk forum.
As you say a debt management plan will take more than six years to clear the debts; more if any of the creditors continue to charge interest.
A trust deed would take three years and you would be debt-free at the end. You would also have legal protection from creditors.
I cannot see any particular issues with your being an employee of the NHS or living at home. I know for a fact that Mark and Kevin have assisted many NHS employees in the past and I'd be interested to hear their comments.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
03/08/2009 4:55 pm
Hi githie,
On the face of it I can see no problem at all for you in entering into a trust deed. I have assisted many NHS employees before and have never had a problem with them, and the fact you are living with your parents does not mean that there credit rating is at all affected.
A debt management plan is viable too so it is really up to your own preference. I'd be happy to look closer at your particular situation if you wish, please feel free to contact me.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
