Hi jd61.

Currently there is no rule stating a minimum amount, so the relevant factor is really where certain trust deed firms draw the line about what they will and will not choose to accept.

Joint debts count fully for each of you, so your respective debts are £6700 and £5700. I'd suggest that this may well be below the amounts that most firms might consider to be appropriate.

This may often be because comparatively small debts (which I appreciate may still represent a big problem for you) can be dealt with within a reasonable period of time using the debt arrangement scheme instead if a monthly contribution is possible (as it would have to be for a trust deed to be a possibility irrespective of the level of debt).

Do you know how much you could afford to pay towards your debts each month?

Do you own any significant assets, such as a home or a car worth more than £3000 for example?

we dont have any assets or a car we can afford £150 a month

Is that each or between you jd61?

£150 between us

Hi jd61.

I doubt that trust deeds will be available options.

It looks like a 6.5 year joint debt arrangement scheme might fully repay the debts.

Alternatively you may wish to consider sequestration, perhaps via the certificate for sequestration route described here:

https://www.trust-deed.co.uk/bankruptcy-sequestration.html

Before you make any final decisions, and if you haven't already, make sure you go through all the figures and options in detail with a suitably qualified adviser as forum advice when choosing between options can only go so far.