Hi Gordo,

I think it varies firm by firm as to their expectation of the minimum amount to be paid into the Scottish Trust Deed each month.

I wonder what Kevin and Mark's firms use as a guideline......

Hi both

It depends I suppose on the level of contribution also. ie If you had ?ú8k debts and ?ú300 surplus, the this could be dealt with withouta TD, but if the surplus was ?ú150, then it is maybe a possibility.

Mark

Hi Mark (& Kevin),

Could you explain a little about how that works?

If you owe more might the necessary contribution to the scottish trust deed be higher to make it acceptable to creditors?

What are creditors looking for in order to accept a Scottish Trust Deed?

Hi TDA

No, a contribution should never be based on the level of debt. It should always be household income less normal expenses and then be based on a portion of the surplus. It needs to be a manageable amount otherwise you would be no better off.

In summary of the above, I meant that a DMP should be the first option, but only if the period ot repayment time is reasonable and you have a guarantee that when it ends, it ends. If this is not a possibility, then look at the next option.

Mark