Hi WorryWarbler and welcome to the forum.

It's actually a lot more common than you think getting back into a difficult position financially. I have many clients that unfortunately find themselves needing a 2nd Trust Deed.

Your local council will be able to provide you with debt advice but they are not actually able to set up a Trust Deed for you.

When it comes to a Trust Deed ideally the household income and expenditure should be taken into consideration to work out what you can afford to pay per month. Other than that, your partner will not be affected by a Trust Deed.

The best thing to do is sit down with a qualified advisor and go over all of your options, not just a Trust Deed and from that you can decide which option best suits your circumstances.

The positive thing is that you have solutions and help available to deal with your debts.

Hi worry warbler (great name!) and welcome to the forum.

If it is any comfort to you, it is very rare for a trust deed not to become protected as long as your chosen insolvency firm knows what they are doing!

Have you worked out roughly what you can afford to pay each month? Also, who is the bulk of your credit card debt with?

Try not to worry, there is always a way forward!

Thanks for your reply, I can't take in to account his income or anything like that as this is not his issue I pay the rent council tax and bills anyway. I would really need to base this on my earnings as he does not help me pay anything at the moment? I feel so bad that he would be dragged into this as it all my fault. I do not want to involve him at all. I fear he may leave and I do not want that to happen. Thanks for your advice I am beginning to feel there is nothing I can do.

Hi Kevin

Credit cards with bank of scotland, halifax, santander, tesco, barclaycard.

Loan with BOS

Any advice would be invauable

Thanks

Heather

P.S I think I could pay 150 - 200 to the trust deed? Is that acceptable?

Hi WORRYWARBLER and welcome.

£150 or £200 per month may well be acceptable to your creditors - but they'll judge whatever the amount is in terms of affordability. For that reason your chosen trustee (or other type of debt solution provider) will propose a monthly payment to you that is based upon affordability also.

Affordability is a fairly simple calculation. It's income minus bills and reasonable expenses.

This affordability calculation will be based on your personal financial position.

However, your creditors are very likely to expect that your partner is paying their fair share of the household bills unless there's a good reason why they cannot.

Is there a particular reason why you're paying for all of those bills at the moment?

Does your partner pay for other things instead?

My partner pays other things yes and cant afford anything from his income to help me. He never even knew I was in this trouble. I only opened up yesterday. If I have to say anything about his income I would be as well leaving. I have three kids too.

I do understand why this must be a worrying time for you.

When you say he pays for other things, do you mean other things for the household (like food for example) or do you mean for things that don't concern you directly (like his own debts for example)?

Yes he is paying his own debts at the moment, he has a car etc. I have no assets.

Thanks WORRYWARBLER.

I think it's going to be best to run through everything in detail with an adviser.

They'll then be able to advise you whether your partner not contributing to your household costs will create a barrier between you and certain types of debt solution.

One way or another I'm sure you'll find a workable way forwards.

I would echo Trust Deed Assistant's comments, Heather - there will no doubt be a workable way forward.

The adviser at the council will be able to advise you on your various options, though when it comes to setting up a Trust Deed it would be up to your chosen Insolvency Practitioner to calculate your contribution level. Hopefully whoever you choose to speak to will be open to understanding your situation fully and taking your concerns regarding your partner into account.

Good luck with your meeting tomorrow - you will feel a whole lot better once you have sorted things out, I can assure you. Let us know how you get on?