Notifications
Clear all
Scottish Trust Deed Forum
8
Posts
3
Users
0
Reactions
2,617
Views
Topic starter
08/02/2015 3:21 pm
From my previous posting thought my change in situation could be resolved with communication successfully with TD company. During my winter seasonal employment have been making reduced payment of £20 which has been ok but had written to them asking if there was a better long term route than payments of £150 in summer and £20 in winter as I think it would take about 9 years to pay off. I will be 60 by then and currently doing the active job that most 20 year olds do. As I receive benefit to help with rent I'm allowed to keep the government allowance of £73 approx of my wage. Ive just had to borrow money from friends to pay a council tax bill which was about to go to petition and and a basic car maint bill, the car I need to get to work as living in v rural area with very limited public transport. Im worried now that I cant pay the TD payments at the start of summer season as have to pay the money back and utility bills arrive at that time i.e phone , car tax and the electric company will increase their monthly payments then as Im still paying off winter bill from 2 winters ago. This winter has taught me I need every penny saved from summer wage to get through a winter. The TD isnt replying to me for some time now and have contacted the original debt charity trust contact, and they were going to see if they could gee up the TD contact up, but still nothing, They both advised me TD was best route which it may have been at the time, even though I told I was in seasonal work and £150 probably a struggle. If they are not replying to me is it ok to just continue to pay the £20 until I hear from them, I was gratefully at the time to get out of a bad debt situation, but the long term picture still not looking good, I budget and scrimp as best I can but being back into debt scary, any thoughts
08/02/2015 6:57 pm
What means are you using to try and contact your Trustee, Happyatsea? Have you called to speak to them?
It doesn't sound like a very good situation if you are struggling so much to get by and it is likely to take 9 years to complete. That is the kind of situation that entering into a Scottish Trust Deed is meant to solve.
It may be that you should consider sequestration instead. However you really need to speak to your Trustee/case manager to talk it all through, as you cannot do anything without their say-so.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
08/02/2015 8:49 pm
Hello , by letter and phone (goes to voicemail), & email asking for response to letter this is for the person who is in charge of my case, will try more next week and try for the person I originally had meeting with in Glasgow in case problem at their office. Will also follow up with contact at debt charity, though I know its only the TD company that can sort anything out. I'm a private person and the humilation of asking to borrow money twice in one month has highlighted it all.Will just keep trying, thanks If it goes to sequestration who and how is it decided how much you would pay ?
08/02/2015 10:32 pm
It might be worth trying to find a different number, Happyatsea. It is possible that your previous contact has moved on and nobody is picking up your messages.
A trustee is appointed in a sequestration and they would assess your affordability in a similar way to in a Trust Deed. There is no guarantee that a new Trustee wouldn't come to the same conclusion as your current one, but it sounds as though you may have overstretched in order to be able to pay in enough to get a Trust Deed agreed by creditors, whereas there is no need to do this in a sequestration so maybe the budget could be set more realistically.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
09/02/2015 1:38 am
Hi thanks for reply, Is there anywhere I can see an example of how much your actually expected to spend on food, health etc. are the budget sums looked at individually or on a general uk basis, I live on an island and everything is much more expensive than the mainland.
09/02/2015 11:12 am
Hi HAPPYATSEA,
Sorry to hear about the difficult times you have been facing trying to maintain your Trust Deed.
You won't be able to find the guideline expenditure figures but these should be a general reflection of the cost of living throughout the UK. When pulling the figures together people did voice their concerns about the different cost of living for people in the highlands and islands and for those living in London etc. Don't worry about the allowances, just put down what you actually spend money on and your advisor can then consider this and let you know if you are over spending. Make sure that when you work out your budget you include absolutely everything that you spend money on.
As Kevin said you want to speak with someone ASAP to try and resolve things. If you can't speak with someone then ask to speak with a manager to the Trustee and you should then be able to speak with someone about your case. When you do you want to explain what you have told us on the forum. Explain that your struggling financially and that you can't see an end to it.
The best thing for you may well be Sequestration but you will need your Trustee to release you from your Trust Deed first to then be able to go down this route.
Be persistent and you should get to speak with someone.
Let us know how you get on.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
11/02/2015 12:01 pm
Finally got someone ( contact had left company ) paperwork being sent out to review affordability, and will be looked at to see if sequestration a viable option or not. I'm rechecking budget carefully, will just have to wait and see
Thanks for listening
11/02/2015 1:38 pm
Good luck happyatsea
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
