Notifications
Clear all
Topic starter
06/10/2013 8:23 pm
For a while now, I haven't been able to make it through the month without the need to withdraw some cash against or use my Credit Card(s). Although my income was enough to ensure I could pay every bill and the mortgage I was struggling - it wasn't until last month that I was in arrears for anything. There was always a warm roof over our heads and plenty of food in our belly - but I simply couldn't do anything else. I had even started resorting to taking annual leave from work so as to avoid having to fill the car with diesel for the last week of the month. I was living to work and not working to live, and that was depressing and self-destructive to family life.
Looking online at a debt management solution I found this forum and through this site I contacted David Tannock for some help and advice. I have since then signed my Trust Deed I would like this post to serve two purposes.
1) A huge thanks to David Tannock and his colleagues in the background at Wylie and Bisset for his and their help in setting up my TD.
Since the initial phone call, David has been 100% professional, friendly and informative in all debt management solutions - and after a very informative chat at my house I decided that a TD would be the best solution for myself and ultimately, my family as well.
David was great at detailing all aspects of the TD and how our house, which is worth less than we owe is of no interest to them. I loved how the line in the letter saying that was in bold text and underlined 🙂
2) To help anyone else thinking about exploring a DM solution, I can't recommend giving David a call enough, my wife even commented this morning how much happier and less stressed I am - and for someone with a heart condition, that's probably a good thing.
Angus McCabe, 35
07/10/2013 10:39 am
Welcome to the forum AGMcCabe.
Thanks for sharing your experience here.
It's great to read that reaching out for help has improved the way you're feeling so much as well as addressing your finances.
It sounds as though congratulations are due to David and his colleagues for a job well done as well.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/10/2013 6:40 pm
Hi Angus,
Thank you for the very kind words and positive feedback on your experience with me and my firm.
A Trust Deed really can be a very straight forward plan to set up and administer providing the time is taken right at the start to discuss everything and then move forward with it agreed in writing. This gives everyone the reassurance that there should not be any surprises with payments or assets. The bold part really does help put people's minds at ease regarding their property in our Engagement Letter as it sticks out like a sore thumb in quite a lengthy 4/5 page letter.
I'm happy that I've been able to help you deal with the debts as I could very quickly see the stress and worry that It was causing you at our first meeting. At the end of our second meeting I could see a change in you and following our telephone conversations since I can really hear a change in you which is excellent given what we discussed about your health.
Before you know it you will be coming to the end and we will be discussing your Trust Deed exit meeting and planning for the future.
You know where we are if you need us and don't be a stranger on the forum as your posts could help others make the decision to ask the experts for help.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
21/11/2013 2:52 pm
I would like just to say thanks again to David and his colleagues at Wylie and Bisset as I recently got the message that my TD has become protected.
When David was at my home for the initial meeting he did say that during the 5 weeks that no news was good news and after the weeks went on I was always confident it would become protected - just like he strongly suspected it would be.
So long as I continue my payments for my TD I will be debt free in 35 months 😀
If anyone reading this is worried about entering into a TD then this is one success story I am happy to share.
21/11/2013 4:03 pm
Great news on the protected front. Dont think of it as 36 months. Work on getting to 12 months, then at 18 you are halfway there then you can count downwards!!
It goes faster than you think although some months seem to drag on til payday. They are the months where tesco beans on toast come to the front as a cheapy meal!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
21/11/2013 5:54 pm
Congratulations to you AGMcCabe.
I'm sure that the time will pass very quickly.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
24/11/2013 2:07 pm
Hi Angus,
As the experts always say on the forum, we work to quite a specific criteria for Trust Deeds to be accepted by your creditors. It's because of this a really good knowledgable advisor can normally give a very good idea if we believe the Trust Deed will be accepted or not.
The advice from plasticdaft is really useful for breaking down the term into sections which for some people can work. The first point is the protection, then the first review and after that it's 18 months then onto the countdown to finish. Before you know it we will be discussing your exit and life after the Trust Deed.
Thanks for also taking the time share your story as it really can't help people who are financially struggling take steps to with their problems. Providing the time is taken at the outset with a client to look at their options then a Trust Deed, Sequestration and a DAS rally can work to provide the debt relief they were designed for.
David is not currently posting in the Trust-Deed.co.uk forum
24/11/2013 2:31 pm
Well done Angus. I remember the stress of my own situation at the time and remember thinking that I was going to lose everything. The stress is horrible and signing the TD just lifted it all.
Got to agree with Plasticdaft - break the 36 months down in your head into smaller milestones. It will go quickly though.
