Hi Mary

It is certainly an option. One problem would be the wage arrestment as a Trust Deed, unlike sequestration, does not legally stop a wage arrestment. That said, I, and I'm sure many other firms, have stopped all council tax arrestments after a trust deed has been signed.

You will need to look at your finances and see what reasonable monthly contribution is affordable.

Mark

Hi marydoll.

As Mark says, the amount that you can afford to pay towards your debts (after you have covered all of your essential expenditure like rent, council tax, food, travel, utility bills etc) will be influential in establishing whether a trust deed or another route will be best for you to deal with the debts.

You could try to work this figure out yourself; if you share that with us we may be able to provide you with some extra information. You could also consult with a suitably qualified debt or trust deed adviser to work through the figures so that they can further advise you.

I should also point out that different types of debt are of much different levels of importance. For example your rent (and rent arrears) should be prioritised above the poayday loans and Welcome loan; if there isn't enough money to pay all of them it's the rent that should be paid to ensure that you can keep your home.

As I said before I am worried about my Husband does he need to know or be involved? He has £105 a week Incapacity Benefit I have £1080 A month wages(take HomePay)Arrestment of £196
Rent-- £350+£50 arrears
Council Tax --£145
Electricity --£120
Bus ticket--£35
life insurance--£22
car insurance--£71
food----£160-200
catalouge--£50 this is in my husbands name
phone broadband +tv package--£105 also in my husbands name
I am trying to work this out and realise how I have gotten in to this state as there is not enough coming in to go out feel so stupid
as this does not include the payday loans interest which come of my account as soon as I get paid leaving me with practically nothing this month

sorry meant take home pay of £1,180 our car is only worth about £500 if that it is a W registration citroen I am actually of work just now with stress as apart from all this my daughter is fighting a residency order for her daughter with her ex-partner my son has just split up with his wife and is left with 2 young children and we are all still reeling from the death of my other son and his friend in a car crash driven by a drunk driver if I'm a bit garbled this is why trying to keep on top of everything has become impossible sorry

Hi marydoll.

Your household calendar month income comes in at £1635. The expenses you mention total £1344 (including the catalogue).

Are you sure you've included everything? Some things I'm thinking about include:
Petrol/diesel
Car tax
Car maintenance/MOT
Home insurance
Clothing
TV licence

You've obviously got a lot to deal with at the moment; please let us have a little more information and we'll do all we can to help you on this side of things.

Regarding your husband, he need not necessarily know. we usually encourage people to speak to their partners as they are often surprised at how understanding and supportive they can be. However, everybody's situations are different and if you think it wouldn't be a good idea for your husband to find out then I'm sure it is likely that you could go through a trust deed without him ever knowing.