I dont think so but how will you fund payments to these?

Paul

You wouldn't be doing anything illegal, weebill, but the question is how would you be able to repay new debts if you are paying whatever you can afford into your trust deed already? Is it worth the risk of jeopardising being able to afford your trust deed after you have come so far?

thanks kevin.i would get plenty help from my family.but i phoned the company concerned and dropped the hint and they said i would breach my agreement and be reunited with my debt.dont know what to do.please help.

Hi weebill,

Did you agreed to a 3 year Trust Deed?

As Kevin and plasticdaft has said, it comes down to "how can you afford to pay the catalogue". If you can afford to pay the catalogue then there is an argument that you should be able to increase your payments to your Trust Deed to repay more money to your creditors. If you take on further borrowings then this may jeopardise your ability to pay your Trust Deed and it would then fail to complete (worst case scenario).

If it was a 3 year Trust Deed you entered into, for the sake of 8 months I would try to complete your Trust Deed and then consider the catalogue if this is something you really require. You may find that it isn't when you finish your payments and have the extra cash.

I do understand though that whilst in a Trust Deed finances can be tight and stretched and the appeal of a catalogue can sometimes be very tempting.

no chris it is a 4 year trust deed .iam paying an extra 1year to realise the equity .as isaid my family give me a great help.but i am still worried that i have breached the agreement.

I wouldn't worry about breeching the agreement (Trust Deed). The TD firm are just trying to ensure that you don't get yourself into debt again or default on the Trust Deed payments. As long as you don't look to take out further borrowings via the catalogue then you will be fine and your Trust Deed will continue as normal.

THANKS FOR YOUR HELP EVERYONE