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Scottish Trust Deed Forum
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Topic starter
25/01/2019 11:01 pm
Hi everyone, I'm just at the beginning of the process of setting up a trust deed which is already feeling like a huge weight off my mind.
My main concern is that as of 15th July I will be getting divorced (1 year of separation). It is going to be pretty straight forward as childcare is all sorted out and no joint assets to divide up etc but obviously I will still have to pay court fees and some solcitor fees. I have no idea how much this will be so can't really include it in my expenditure and I'm sure as hell not waiting 4 years to get divorced haha!Has anyone else been through something similar? I'm just worried I won't be able to afford to get divorced.
My second question is about how I spend my money. Basically before I got into all my debt (before I was with my ex!!) I used to operate on a cash basis whereby I had little zippy wallets for food, travel, going out, bday and xmas fund, opticians and dentist etc. I would put the set amount from my budget into the envelopes so that it built up and I only spent what I had intended to in each category. I would love to get back to this again as I found it so useful and everything remained separate. If I underspent on my food shopping one month it meant I could treat myself to an extra nice meal for example and putting money aside monthly for opticians would mean I had enough come the £400 bill my glasses usually are.
If I am in my trust deed though and having to submit statements to annual reviews etc would this go against me as they wouldn't actually be able to see what I had spent my money on specifically as it would just be cash withdrawals. Obviously my bills would still be detailed.
Hope that makes sense!
26/01/2019 1:20 pm
Hi Darkness Daisy. I also got divorced after one year separation during a PTD. As long as there are no financial claims by either party and your ex is also happy to comply with form signing etc then you can actually do most of the leg work yourself using forms from the internet. The only thing I needed a solicitor for was to notorise the documents.I then lodged them with court myself.The cost, if I remember rightly, was certainly no more than £150 in total, which given the circumstances that I found myself in at the time seemed a lot but was money well spent.
I understand your feeling of having a weight off your mind going into the process although I am not afraid to say I was scared of going through the Trust Deed process.The whole experience has taught me the value of money and how to budget and stick to it, although without the help of zippy bags :), and it was a relief not to have the added worries of having people chasing for money.Also the advice I gained from people on this forum was invaluable. I am happy to say I completed and was discharged from my PTD in 2016 and as of December last year my six years of signing the TD were also up and I believe all traces of the TD are now off my cedit records. There is a light a the end of the tunnel.
Lesley Wilson
Topic starter
26/01/2019 9:03 pm
That's great to hear thanks! I was just worried that is was going to cost loads and loads as everything I read about getting divorced when there are children involved suggests its a massive hassle compared to the "DIY" divorce you can do without children. I don't even know where to start!
28/01/2019 9:11 am
Welcome to the forum Darknessdaisy.
I can see that you've already had some excellent practical guidance from Lesley.
I wouldn't worry about the spending system that you'd like to use. Your trustee will want to see evidence of your bills (rent, utilities, etc) but I doubt they'll have much interest in how you use the allowances set to cover other expenses.
Plenty of people prefer to use cash and that's fine.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
