Hi and welcome to the forum welshie.

One of the experts is probably best placed to answer your question on recent credit card usage. They should be one here at some point to answer your query.

Hi welshie

I don't see this being a problem to be honest.

There is no specific age of debts as such. My advice is to sit down with someone and look over the options available. Then in your own time, you can decide what best suits.

Mark

Sorry ive got myself worked up And im looking for some advice.
Ive read regarding bankruptcy, that it can be considered fraud if you use your credit card before declaring.
Is this the same in the trust deed ive had debt on my cards for some time but have obviously withdrawn money in the last week.

Hi welshie.

Presumably you'll have a receipt for the car repair?

The publicity around bankruptcy sanctions is usually connected to luxurious or frivolous spending, like holidays or gambling for example.

Hi Welshie,
Welcome to the forum.I have just recently finished my trust deed. Using Mark McFadyens firm. Having taken a loan out shortly before,I had no problems getting started with my TD. Don't get yourself worked up as there is always a way of getting things sorted. Please look for my thread 'loans under a year old' and you will see with the help of the experts and other people whom have been in the same position got great advice and help from this site. As Mark says speak to someone for options. Remember that there is no up front fees before you sign a trust deed. If you go ahead 2 with a TD, someone will visit you and go through whats best 4 you and answer all questions you need. Best of luck.

Hi yes i have receipt. Thanks for the replies just wondering if i should wait a couple of months so its not as recent as it is now or would that not make a difference?

Hi welshie

In my experience it makes no difference.

Mark

Thanks very much for the reply.

It is not really a problem in a trust deed. The creditor may query it, but rarely do anymore than that. In bankruptcy, they can put a restriction on you if the Accountant in Bankruptcy feels you have taken on credit, knowing you could not pay for it. I agree with Mark that you need to sit down and speak to someone, there is always a solution.

Hi Welshie

I was in a similar situation to you, three weeks before I signed my trust deed I found myself with a £850 car repair bill. I had no option but to put it on my credit card, saying that, I had the option of not getting my car repaired but that was not an option for me.

My TD went through without any objections and as TDA has already said it is not like you were booking a luxury holiday or buying a new car. If I were you I'd go for your TD now, waiting four months will just mean four more months of worry.

Good luck
AB

It is really very common for people to have taken on further credit not long before entering trust deeds - often in a last vain effort not to have to enter into an insolvency procedure. Unless it was a clear attempt to try and play the system and line your own pockets before signing up, which it obviously isn't, then I am sure you have nothing to worry about.

Have you had any expert advice yet welshie?

I haven't other than a brief trip to the citizens advice bureau to see what my options were.

Citizens advice bureaux are always a good place to start. If is likely to be an insolvency procedure such as a trust deed that you will be looking to set up then I would suggest speaking to a couple of different insolvency practitioners to get as much info as possible before going ahead with whichever you feel most comfortable with. The CAB may well recommend an IP to you, and you should of course feel free to contact any of the experts here.

Go to the CAB do not use anyone (middleman) that charges you a fee and make sure you understand the deal with all of your options not just the fee making (for the Trustee) PTD.

I am a year in to a PTD, it's a slog but passes quickly and you almost instanly get some of your life back from the debt