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Scottish Trust Deed Forum
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Topic starter
01/11/2011 10:15 am
I am currently in a trust deed with KPMG. I need some help because recently I have had problems with my car which I need for work and also my wife has had her hours reduced at work. I have recently taking out a payday loan which i now cant afford to pay back. My wife also know has debts which we cannot afford the repayments for. This means i really cant afford the TD payment either. Any advice you can give me would be great. I own my property but at the start of the trust it was deemed i was in negative equity.
Chris
01/11/2011 11:33 am
I'm very new to this having literally just signed a Trust Deed at the weekend so can't give any reliable advice but perhaps your wife should think about entering her own Trust Deed to deal with her debts?
I'm also surprised that you managed to get more debt whilst in a PTD? I didn't think this was possible.
Pam
01/11/2011 11:36 am
Welcome to the trust deed forum Gibby30.
I think that you'll need to contact KPMG with regard to where you go now with your trust deed and how to deal with the debts that your wife has.
It may be possible to come up with a co-ordinated way to deal with the situation depending upon your circumstances. For example, they may allow a trust deed payment or two to be missed in order to take care of the payday loan so that you can continue with the trust deed. They may consider a reduction in your monthly payment if your household income has gone down. They may be able to offer advice to your wife as to how she can affordably deal with her debts.
If your home is still in negative equity it's difficult to see any reason why it would be jeopardised provided that you have kept your mortgage payments up to date.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
