Hi I have just joined this forum after seeing all the helpful advice and now I need some of my own.
I am thinking of signing a protected trust deed and have been through all the paperwork which is ready to sign when I am, but I have a couple of concerns. Firstly, I would really like to keep the bank account that I have (which has an overdraft facility) that I am rarely in. I dont owe this bank any other money on cards/loans etc - they are all with other companies, and the IP has said that as long as I am in credit the day I sign this will be fine - even if i go into my OD the next day. Can anyone confirm? Also, I have a catalogue that I run. By that I mean, people order from it, pay on time and I earn a cashback or goods amount from these payments. The advisor says this is ok, just not to mention it. Thats not really sitting right with me, but I dont want to give it up as the commission has earned me things like a washing machine and clothes in recent years. I dont buy anything from it, and it has a balance of about 450.00 at the moment.I cant afford to clear the balance myself without taking the money from the overdraft. It has not been listed on my creditors sheet, and I have told the IP. any thoughts or advice would be very much appreciated.