Hi "neverendingstory" - Thanx again for words of support.It helps - believe me. If all goes ahead it will be a tough 3 years with strict budgeting,(something I clearly haven't been good at historically) but if I leave things the way they are, it would be an impossible God knows how many years, with no end in sight. Onwards & upwards!!!

Thanx Timelord too, you posted in between there ha ha

Can someone explain what happens during "changeover" ie when/if Trust Deed agreed - I understand that your bank accounts are closed (mine has overdraft facility which I appreciate will cease), but WHEN does that part happen. My salary & Direct Debits for rent/council tax etc?? Obviously I don't want to fall behind with either of these. I have private landlord and dont want to alert them to a problem and end up being homeless too........having a wee panic today.

I would recommend opening up a new basic account (that has direct debit/standing order facilities, I got one with RBS and others have recommended Natwest) and get your dd's and pay moved to that, you can do this anytime. Especially a good idea if one of your creditors in the TD is also who you bank with.

As for when they do this, I don't know. I opened a new bank account and moved all dd's and pay to it when I knew I was getting a TD. I vaguely recall getting a letter from my old bank account provider saying that the account was shut whilst waiting for my TD to become protected (which takes 5 weeks).

hope this helps.

I would recommend you cancel DD for rent, lift the cash and make arrangements with your landlord to pay it into their account (or in person if they live/work close to you) as a one off. Whether you explain it as the changeover of bank accounts or give more info is then up to you.

Me again! Can someone tell me exactly what information goes in the Edinburgh Gazettte. I'm sure this will be my final question before I discuss this with my Boss.

Hi there.

It will be your full name, address and details of your trustee.

It's easy to have a little look on their website to see how it appears.

H55, I changed my account to HBOS from RBS, my RBS account is frozen though I never had this confirmed in writing. I dreaded the advert in the paper but, let's be honest, who reads the Edinburgh Gazette 🙂

That's pretty much what I thought. Still concerned that my Landlord gets wind of it. Guess I'm just gonna worry about pretty much everything for a few weeks till I decide. I still haven't done anything concrete yet, whereas all you brave people on the forum have made that final jump!!

How long have you rented from your landlord? I honestly don't think most landlords will have an issue if you explain what's happening and how you are making sure your rent is paid. Worst case scenario, your rent is not received with no prior warning, your Landlord might have some concern depending on his/her prior experience.

Only 9 months. And I'm really happy with where I live, so would prefer that they didn't know. I also worry that if they do find out, I will struggle to get another place to rent. Firstly because I have 2 dogs that I just couldn't part with, plus I will then have entered the Trust Deed and this would show up on my Credit Search........ 🙁 Feel like I'm talking myself out of this

Hi Hopeful55

Try and not worry about your landlord - I know it is easy to say but, you have paid your rent up until now when you were in financial difficulty and now that you are entering into the TD this will have been covered by your income and expenditure, so in reality there shouldn't be a problem.

It is so daunting as you feel you have a massive big flashing X over your head - well I know I did lol - and that you now don't have credit to live off.

Keep positive - it will work out for you [:D]

If your rent has always been paid on time, I don't think you will have anything to worry about . I think it is a clause in some tenancy agreements just to give the landlord a 'quick 'escape' if needed . I have never had anybody evicted just because they entered into a trust deed. Good luck .

Hi "neverendingstory" - it's great to hear from people who understand the daft thoughts you have. "Stinkin thinkin" I call it!!!- I'm gonna get fired/ I'm gonna be homeless/I'm gonna be friendless when they all find out........... I have, however, taken another small step - half opened an account with a Bank I don't owe money to - and I'm plucking up the courage to talk to my Boss soon Arghhhhhhh

Thanx Shona - Good to know. - I've never been late with a payment in my life - Ironic huh