Hi Bgm82 and welcome to the forum.

Sorry to hear about the change in your circumstances and redundancy. It's good to see you have been positive and proactive seeking advice and help from your local CAB.

A Trust Deed could well be one of the options you could consider to deal with your debts.

Can you tell us how much debt you currently have? Also, how much do you feel you could afford to pay per month to a plan?

When it comes to a Trust Deed it takes into account any assets which you own such as a car or a house. In relation to your house, do you know what the valuation is and also the outstanding mortgage? This is something that must be established and clarified as if you do have equity you would need to pay this over into the Trust Deed. If the equity is too much then it could mean a Trust Deed isn't suitable. A good expert advisor will be able to explain all of this to you. Kevin or I the two experts on the forum would be happy to help with this and give you a second opinion.

Alternative options could be a Debt Arrangement Scheme or Sequestration.

In terms of your wife's credit rating this shouldn't be affected and it shouldn't prevent her from obtaining credit in her own name. Remortgaging your house should be fine if you are staying with your current provider. It would be difficult to change to a new mortgage provider all together due to your credit rating. If you have a minimal amount of equity then this would be difficult even if you had a good credit rating.

A Trust Deed is one step before Bankruptcy and is a form of Insolvency. If your debts are becoming unmanageable then it's something which you would need to consider to help your situation.

The best thing to do is have a browse or the forum and then speak to an expert. They will discuss everything with you, explore all of your options, the pros and cons and then you can decide which option best suits you.

The positive thing is that you have a number of solutions to help you deal with your debts and become debt free. You will also find plenty of support and help on the forum.

Coming to the end of a fixed rate period on your mortgage doesn't mean that you have to remortgage as you aren't borrowing any further monies. As David says, there should really only be an issue if you were seeking to switch to a different mortgage provider.

A Trust Deed is only in your name and would only include debts which you are liable for. Are any of your debts joint? If so, your wife would still have to repay any remaining balance even if you went into a Trust Deed.

You are right to be cautious - a Trust Deed isn't something to be entered into without careful consideration first. However, it can be a very effective solution for very many people who have debt problems - a quick flick through this forum will show you that.

Best to speak to an insolvency expert and get advice tailored to your particular circumstances about all of the potential options open to you. Your wife could also be party to those conversations and then you can discuss together what your preferred route is. Ask lots of questions and don't be hurried into anything.

Most importantly, there should be a valuation carried out on your home before you sign up to anything, in order that it can be ascertained whether there is much equity in it and therefore whether a Trust Deed is a suitable route for you or not.