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Scottish Trust Deed Forum
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Topic starter
14/01/2019 9:52 am
Hi, finally faced up to my debt problem and went through all options with a debt advisor.
In short 34k in unsecured debt, all in my name. I own my house with my husband, worth 126, 106 left on mortgage.
I work part time self employed so earnings are not massive 🙁
So trust deed seemed best way forward ..... the name crops up again .... Wilson Andrews !
I’m expecting my paperwork today to sign but when I went through options with debt line and they made it clear I could opt for 5 years instead of normal 4 to leave my house out of equation this isn’t seemed to beingbthe case now with Wilson Andrews. They want to value my house etc ....
Can anyone advise me if you have been with this company before and had success as allnive read is negative stuff with them.
I need to sort this soon I’m out my depth 🙁
Il get it right one day #129318;#127996;#8205;#9792;#65039;
14/01/2019 10:25 am
Hi Hopeful007. The house would need to be valued if you are planning on entering a trust deed. Maybe debtline just didn't explain this very well.
In fact it must be valued prior to the trust deed being signed and an agreement must be put in place as to how any equity will be gathered in. This may often be by way of an extension to the minimum 4 year term, though not necessarily.
I would give you the same as ice as stewy19 - there is no harm in getting a second opinion from an insolvency practitioner firm, even just to settle your mind that the original advice you got was sound.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
