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Scottish Trust Deed Forum
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Topic starter
18/08/2009 10:10 pm
Need to pull my head out of the sand and own up to the fact that my wife and I have had champagne tastes and lemonade pockets for too many years now
Credit cards have been our main downfall
We have taken out a secured consolidation loan to try and help, but in hindsight we were already too much in debt for this to be successful (hindsight is a wonderful thing isn't it!!)
Before we approach a company regarding applying for Trust Deed, I need to know how our monthly outgoings would be calculated
I have a job which means travelling across scotland
I have a car allowance as well as a salary
Can I have monthly petrol bills taken into consideration as necessary living expense as I regularly clock up 1,000 to 1,500 miles a month and sometimes 2,000 miles in a month
If a Trust Deed is initiated & accepted, I will not have any credit cards (and I currently use credit cards to pay for petrol to enable me to fulfill the contractual obligations of my job). Therefore I need to ensure enough cash will be available each month to pay for petrol to enable me to keep my job (which I would imagine is in the best interests of my creditors)
Also, my wifes company issues child care vouchers - are these taken into account as monthly income ??
Thank you in advance for your assistance
Dan
19/08/2009 11:23 am
Hi Desperate Dan.
What a great turn of phrase - champagne tastes and lemonade pockets! Will have to remember that one.
If your petrol costs are necessary for your job then they would certainly be taken into consideration - though any allowance you receive from your employer towards these costs would also have to be included too on the income side.
It should certainly be possible to make sure that you have sufficient funds available to meet your petrol costs and do your job - as you say it would not be in anyone's interest if that was not allowed.
In terms of the childcare vouchers, we would not have to include them as income, though presumably your childcare costs are less as a result, which would have to be taken account of.
I hope this helps to clarify matters. Please feel free to get in touch with myself or Mark through this site if you wish to look at getting your trust deed set up, or would like us to look at your circumstances in more detail and let you know how much your contribution would be if you did decide to go ahead.
Regards
Kevin
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
