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Scottish Trust Deed Forum
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Topic starter
17/11/2016 10:47 am
Hi , I've kinda sat at the back on this forum and have decided to share My experience with a PTD.
A trust deed was my only option really due to the debts I had. Originally I had run from them and let them build up , until I sat down with my partner (who didn't know ) and discussed it all . Obviously she was very surprised /shocked at the time but supported me through initial stages of seeking help and all through the 3 years of the TD.
It's easier to run than face the problem eh ?
The weight that's lifted from your shoulders when you open up and seek help is incredible , outweighs the initial fear by far.
Anyway I was discharged this year and a few weeks later my trustee discharged himself.
I'm in a much better place financially and have learned my lesson from my experience .
I also was accepted by a high street bank for a 0% credit card with a good credit limit , the balance remains at £0 though.
I have also been acccepted by a high street bank for a first mortgage with 15% deposit.
Although I need to save til 2018 to reach that goal I'm focussed on achieving that target.
Credit files / money management should be part of the school cirriculum IMO.
I know as my kids grow I will be teaching them the importance of financial management.
So for all reading this , there is light after a Trust deed
17/11/2016 1:41 pm
Welcome to the forum Jamie24.
I'm glad to hear that your trust deed has worked so well for you. Congratulations on putting this behind you and best wishes with your future plans.
There will be plenty of people reading this thread who are very worried about their personal finances; hopefully your shared experience will encourage some to reach out for the advice that can so quickly start fixing the problem.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
17/11/2016 3:42 pm
Hi Jamie24 and welcome!
Thanks for coming onto the forum to shares your positive experience.
We always say the hardest thing is to open up and tell people about your financial difficulties but once you do in the vast majority of situations the support they receive is excellent and the plans available to help people deal with their debts is excellent in Scotland in my opinion.
I like your point about credit files and money management being part of the school curriculum and I completely agree with this. I remember back to my school days (a long time ago) and can’t remember having a class that talked about life skills, money management, also about if you moved out at the age of 16 what bills you needed to pay i.e. rent, council tax, gas & electricity and what the consequences were if you didn’t pay these things or even taking on debt. Often I hear that it’s a parents job to guide their children through this but a lot of parents are not able to do so.
I was speaking with an advisor from a credit union who was running a program whereby they went into schools and spoke to children about the credit union and they did an exercise whereby most primary school kids could identify the logos of most lenders and at that point pay day lenders. The advisors concern was that at a young age they were becoming trained to think that debt was a normal part of life.
Education at a young age, even primary school I think it key to ensuring that the next generation are able to manage their finances in a positive way and give them the best start in life.
All the best for the future saving for a house.
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