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16/06/2011 11:35 pm
Just a quick question about taking out an overdraft facility whilst in a protected trust deed.
I have been in the TD for a few months and have been managing well but have in the last few weeks that I need to register with a certain society to be able to continue with my profession. If I don't then I cannot continue with my job.
The total cost of this is aorund £350. I was wondering if it would be possible to take out and overdraft facility to cover this as it will be near impossible otherwise?
Will this affect my TD? Or make it invalid in any way?
Thanks, any answers or advice would be appreciated.
16/06/2011 11:51 pm
Hi Lola143.
Don't worry, there is no rule associated with a trust deed saying you cannot take out credit.
The thing to be careful about is that no allowance will be made at your review to repay any new credit. However, if this (the professional membership) will be an essential annual expenditure going forward it may be allowed for in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
17/06/2011 9:59 am
There is always the option that you phone your trust deed company and explain the situation and ask for a break, i was alway told that if you need to take a month or two off for situations like this then that extra month or two can be added to the end.
g giles
