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Scottish Trust Deed Forum
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Topic starter
19/10/2020 12:50 pm
Hi, I have fallen into a lot of debt and I'm looking for advice on how to deal with it.
My debt has risen to about £31000 on two credit cards and a bank loan my repayments have got out of control and I am no longer making payments to my credit cards as I have maxed out the credit, I have currently missed two payments on one card and one payment on another card and if I make payments to them I have no money left over to pay for food and other essentials.
I have kept up the payments to my bank loan as my account is with them but this is crippling me too and I don't think I can keep paying them either, so I am looking to change to another account my overdraft is also part of my debt to the bank.
I own my own house and my car is on finance I have ten years left on my mortgage with possibly about £18000 in equity.
My car has 18 months left on the finance
After being furloughed for 12 weeks due to covid-19 whilst I was shielding as I am a type1 diabetic, my physical and mental health is suffering badly as I cannot sleep worrying that I am going to lose my house and my job which in turn has been making my blood sugars rise making me ill.
Can anyone contact me in regards to helping me get through this terrible situation I have found myself in as I am at my wits end and don't know what to do.
19/10/2020 1:22 pm
Welcome to the trust deed forum dj1971.
I'm very sorry to hear that you've found yourself in this difficult position. Taking advice and action to protect your mental and physical health seems like the absolute priority here.
There's always a way to deal with a debt problem. An adviser will ask about your assets, debts, income and expenditure, and your personal situation and priorities. This information enables them to identify workable solutions you could use and to explain the pros and cons of each of them.
We'd be very happy to help you with this if you'd like us to. You can get in touch by calling our debt advice line or by clicking the "contact me" button in my forum signature below (and we'll call you back). There are also plenty of other local and national agencies that you could choose to contact for advice and services.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
26/10/2020 8:47 pm
Hi dj1971
Did you get any help yet? As Trust Deed Assistant says, there is almost always a solution and I am sure that your situation would be no exception. Please do reach out for advice and hopefully we can help avoid the detrimental impact on your health by showing you potential ways to resolve this.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
08/02/2021 9:42 pm
Hi I was looking for info on when I need to enter into a moratorium
I heard the term was extended because of Covid to six months
I was wondering if this was due to run out ?
Could someone contact me regarding this please.
09/02/2021 8:56 am
Hi dj1971.
You can access a six month moratorium. This should give you plenty of time to get advice and identify a suitable way to address and resolve your debt concerns.
The starting point would usually be to get in touch with an adviser and take things from there.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
09/02/2021 9:36 am
The 6-month moratorium period is still available to apply for until the end of March, though it is possible that this will get extended further.
A moratorium is good for buying time and may well be part of the solution, but does not resolve the problem in itself. If your debt situation is causing you stress and worry then I would recommend taking control now and getting in touch with an adviser to discuss what solutions could work for you now, rather than putting it off.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
