Also, my wife plans to stop working once I am qualified. She may resume part time though, if she does do I need to notify someone?

And in regards to expenditure, as mentioned previously, I pay a set amount each month my parents bank account that covers council tax, gas electricity, insurance, and a small contribution so none of this is on my bank statements which concerns me and makes me think that my monthly TD cost will be very high. What can I do to sort this out without my family finding out.

Welcome to the forum Vasc.

Trustees are well used to working with customers who pay a sum for rent and bills to their family. Presumably you can evidence this from bank statements?

In terms of cash in your account, any surplus not needed to pay your usual expenditure and bills may have to be paid over. There will be no interest in your wife's bank account, unless it's determined that you've put money into it to avoid paying it into your trust deed.

Plenty of people have entered a second trust deed without any problems. In terms of whether your creditors will accept it - any good adviser will be able to give you a good sense of the likelihood once they fully understand your circumstances, what you can offer, and to who.

Hi Vasc and welcome to the forum.

Entering into a second Trust Deed shouldn't be a problem and is something that is a lot more common than you would think.

Your creditors and the ones which you have recently borrowed money from will consider the proposal and it can be one of the factors for them in rejecting it. I'm my experience balance transferring normally doesn't pose too much of a problem but it comes down to each lender. A good Expert can give you advice on this.

I would focus on making the minimum repayments for the time being to your debts. There is no point in the "robbing Peter to pay Paul" scenario trying to shuffle the debt.

Living with your parents and paying towards the household running costs is fine. It really comes down to demonstrating what you are paying and this can be done through bank statements. If you pay a set amount each month this is fine. I have lots of cases with a similar arrangment either with parents, flat mates or a spouse.

No issues with your wife's bank account or funds in it either as long as you haven't been putting large sums from your income into it recently.

Overall from what you have told us I can't really see any issues with you securing a second Trust Deed. My advice would be to reach out to an Expert to go over everything with them thoroughly, discuss all of your options and then once you secure a position you can look to enter into a Trust Deed. Kevin or I (the Experts on the forum) would be happy to discuss things with you to give you an idea.

To echo the others thoughts, I doubt it will cause any problems going into a Trust Deed for the second time. I've dealt with several such cases and have always been able to get a Trust Deed agreed. As long as you can afford enough to give creditors a reasonable return then it should be fine.

It might be a bit more difficult to get the agreement of the creditor who you borrowed from recently, however as long as your other creditors don't object then it won't matter and they would be forced to comply.