Hi nopounds

I suppose it depends on what you are able to afford each month.

If you halved the monthly payment (?ú250) you could clear this in 48 months in a Debt Arrangement Scheme, or longer if the amount was less.

Mark

hi mark many thanks for your quick reply there is no way i can affored ?ú250 as i have my own debts which i am copeing with at moment all i can send her is about ?ú150 to help with these debts. another question she has closed her bank account should i do the same its not joint or has any direct debts paying the joint debt but is with the same bank.

Hi nopounds

is the ?ú150 payment a maintenance payment or a payment towards the debts. I assume, if its towards the debts, that this will cease if/when she signs a Trust Deed.

If you let me know realistically what you can afford, I can hopefully advise further.

Your wife has probably been advised to close her account and get a new one for the purposes of the Trust Deed. There is no reason for you to close the account if it is not joint.

Mark

hi payment is for debt you are right my wife advised me to stop this payment so if companies approach me for payment it would be about ?ú150 so i take your advise is not to go down the trust deed road.should i wait till these companies find me or contact them once my wife has been accepted for trust deed .many thanks keep thinking of new problems.

Hi nopounds

Probably best not to wait on them finding you after your wife's Trust Deed.

As mentioned earlier, you need to calculate exactly what you can afford per month and this will determine which route to follow. At present there are a number of options, however if you can only afford ?ú150 per month, then perhaps DMP is not appropriate and you should look at something formal. Either Trust Deed or Sequestration.

Mark

thanks mark i will contact cccs on tuesday get thing moveing

Hi nopounds,

I'm not aware that CCCS actually handle Scottish Trust Deeds. If that turns out to be the appropriate way forwards please remember that you can choose any firm that you have faith in rather than accepting the firm to which CCCS would refer you to.

I'd be curious to know how quickly CCCS are able to offer you a full telephone appointment. There has been some feedback on the forum previously that people have had to wait several weeks for an appointment. Hopefully that will not be the case for you but please let us know if you get the chance.