Rant away. I remember many months of tesco beans on toast for tea when things were tight.
It is worth it in the end though.

Paul

Stick with it.
Things could, presumably, have been much worse, and things will get better.

Lots of pots of soup in this house!! Trying to focus on the end... Although it's still 2 and 3/4 years away! It's been a long enough 2 and a quarter...
Maybe Santa will bring a euromillions win 😉

As Plasticdaft has said, it's worth it in the end. I look back now that I'm out of my TD and view it as a very valuable lesson never to go there again. I know the finish line seems an eternity away but it's amazing how quickly it passes.

Hi Nemo,

A Trust Deed can provide a light at the end of a tunnel and a way out of the financial difficulties that someone is experiencing but the journey to that point can be a little tricky and difficult. Even although you say it was you that got yourselves into the financial mess over all the years I've been involved in debt advice, it tends not to be a deliberate thing that people do so try not to beat yourself up about it. I find that people can get into financial trouble for a variety of reasons, I'll health, loss of a job, a reduction in income, relationship break up or having children and the massive extra costs that this brings. The intention form most people was always to use credit and repay this back but things can get out of control and then it makes it very difficult to try and clear your feet.

Have you looked at discount or deal websites for anything that you need or considered ebay/amazon/gumtree and other websites for clothing that your son might need. I know with kids it can be all about the brand names but you can pick all of this up there and it isn't all second hand stuff. My Mrs loves spending time on ebay and can find some real bargains. The latest is a brand new pair of football boots for my step son from ebay for xmas. I think she picked them up for £12.00 when in the shop they were over £35.

Even looking at changing where you shop or considering changing your gas and electricity supplier, telephone and broadband, home or can insurance supplier or looking at loft or wall insulation as there are a lot of free initiatives from the Government at the moment. I recently changed to utility warehouse for my gas, electricity and home phone and broadband and it's saved us a little money per month. They also do a cashback card but before taking something like this out you need to consider your spending habits and if you would actually benefit from it and read the T&Cs. This might help you save £20-£30 per month but it all helps. Sorry if you've already considered these things and I'm telling you thinks you are already aware of.

As others who have been through a Trust Deed have said try to stick with it as it will be worth it in the end. If you need a rant this is the perfect place for it. Plenty of listeners, support and advice.

Hi Nemo1

It may be a rant, but it's certainly an understandable one.

I think the issue is probably worse as we approach the Festive period and the normal demands that that brings. From both sides it's always a balancing act between what is a realistic income and expenditure and what creditors will accept to get the Trust Deed to work.

I posted earlier on expenditure and still think it can be unfair as one person's rent can be considerably more than another, but creditors will accept this, however if you increase telephone/mobile costs by £20, they will go mental!

Only advice I can give is to stick with it. As upstream mentioned, it will fly in quickly hopefully.

Mark

Hi Nemo

Oh yes those moments featured in my life quite a lot in the three years I was in my TD. I remember once chosing whether the cats got food or I was fed... the cats won! I had to take coucous into work for a week once as I had no spare cash as the car needed repairing.

However, I have come through it, slightly wiser and a very canny shopper!

I know it doesn't seem like it now but it will fly past (apart from the last three months - they drag! [;)] )

Hi Nemo

Not any consolidation for you but just to let you know we are exactly the same. I am 20 months into our TD and I never end the month with money in the bank, never ever. The first week of the month I am paid I'm fine, I have a list of items to buy that I haven't been able to buy for the last 3/4 weeks, then the next 3 we're watching every penny and it's just so frustrating and so difficult. Buying the kids 2 happy meals from MacDonalds is a treat for them, never mind eating out.

To top it all I've just been made redundant, I don't know whether to laugh or cry, honestly, talk about bad timing. Still waiting to hear back from my Trustee as to what happens now, it's a frightening time, especially with 2 young kids.

Good luck and just hang in there like the other guys have said, I'm hoping there is light at the end of the tunnel for us too, but yes, it's bloomin hard x

Hi Memo, I have days like this, usually near the end of the month when I need to borrow some money from my parents to feed my kids and buy petrol to get to work. I know this might not be any help but I have a list of all the debt I had before the trust deed on my computer. When times are hard I look at it and remind myself of what a mess I was in and how there was no light at the end of the tunnel...well now there is...take comfort in knowing you are not alone and that one day you will be debt free and can start again.

Thanks everybody for your kind words, it really does help listening to people who have been through it or that are going through it as well. I think the approaching festive season definitely makes it worse. Thankfully they have wonderful grandparents who always spoil the kids so takes the pressure off a bit! At the beginning it's a weight lifted off ur shoulders no doubt about that. It's half way through the 5 years that seems to hurt..!! It's a thankless task working your arse off week in week out and having absolutely nothing in return. And definitely puts a strain on relationships when every weekend is stuck in the house !

Your not alone Nemo, I have just recently paid my last payment and recieved my Form 5 but its been really hard going. Thankfully my pay increased slightly over the 3 years due to cost of living which helped ease things ever so slightly.
I think when my outgoings were listed by my trust they were slightly exagerated... "we will put down £13 a month clothing allowance" well that didnt cover anything.

Thankfully I had my husband to help me out but that again was a hard situation as the debt was my problem and he shouldnt have had to be put out because of it.

Needless to say the first thing I treated myself to was new clothes!

hi Idizun,

Well done on successfully completing your Trust Deed and becoming debt free.

It sounds like you are already enjoying the surplus money per month.

Best wishes for the future.

I know everyone's circumstances are different but how much (roughly) would you pay a trust deed?

For example - 23K of debt, monthly net income £1710.54

It's entirely based upon affordability Hoopsah.

Income minus reasonable bills and expenses.

Once that exercise has been done you (with an adviser) can work out:
1 - Whether a trust deed is a good solution.
2 - Whether the creditors are likely to accept it.

If you had two people with £23,000 of debt and net £1700 monthly incomes one might pay £125 per month and another £375. It's all based on the affordability calculation for their specific circumstances.