Welcome to the trust deed forum erin7775.

Let me start by saying that there is no reason to panic just because some of your debts are with payday lenders.

All types of debt and trust deed advisers are helping more and more clients for whom that type of debt features amongst the creditors.

The fact that you have payday loans doesn't in itself prevent you from using any of the methods commonly used to deal with unaffordable unsecured credit.

Can you give us a little background information which will help us to share some more thoughts with you...

Are you working at the moment?

Are you a homeowner?

Has there been any legal action at this point in time?

Are you up to date on priorities like your mortgage/rent, council tax, and utility bills?

Hello. I am a single parent, working part time and own my home. I do also have arrears on the mortgage, but have come to an arrangement with the mortgage provider regarding this.

My debt is made up of four payday loans,three catalogues, three credit cards and an overdraft which is spiraling out of control with charges. I have had several letters from the companies stating if I do not make payment that my account will be trasnferred to a debt recovery agecy.

Thanks erin7775.

I'm glad you have a plan in place to deal with your mortgage arrears. Sticking to that should be your priority even if it leaves you short of money for the other debts.
The same is true for other important things like council tax and utility bills.

Do you think that there is any equity in your home (value of the property, minus the amount owed to your mortgage and any other loans secured on the property)?

Welcome erin7775

Glad your mortgage arrears are in hand, but is there any equity? this could make a difference to which option is the best for you. If you are not sure, then maybe you need a face to face meeting, and a valuation could be carried out for you. As uou own your property, it is important to know what would happen (if anything) to your home if you were in a Trust Deed or bankruptcy. I take it this is your main concern if you have children to look after. Can I also ask what level of diposable income you have, if you were not paying your creditors?