Trust Deed Stories

A question about : Trust Deed Stories

Trust Deed's in Scotland are very similar to IVA's, except they last for 36 months instead of 60. At the moment I am more than half way through- and my quality of life is a hell of a lot better than when I started. I would certainly recommend this as an alternative to the 'B' word. It's no the easy ride some would have you believe, but it's a cathartic process that I know will leave me far better positioned for the rest of life once it is completed.

I wonder however, for those of you out there who have completed their Trust Deed, what effect this has had on your attempts to move on financially...for example obtaining credit/mortgages etc. Obviously things wil take time I imagine, but has having the TD seriously impaired your future financial prospects?

Best answers:

• Hi first time posting here and need some advice and hoped there might be someone out there who can help.
  I'm in downward spiral of robbing peter to pay paul and just cant see light at end of tunnel. got Ј18k debt and no way of paying it back. after speaking to friends who have had TD think this might be only way out. Have a very understanding partner who has been through Bankcruptcy so knows how i feel.
  But i've no idea where to find a decent sypmathetic insolvency practicioner if they exsist), its an embarrassing situation and i dont want one who says its your own fault and only doing the TD to proft themselves.
  Can anyone help, i'm Scottish Borders but can travel to Edinburgh
  Thanks for reading this
• Thank you so much for your advise. I actually have a phone appointment with CCCS tomorrow so I will wait and see what they say and take it from there.
  Just very scared and highly embarrassed about the whole situation
• still working my way through trying to get things sorted out. After sepakding to the CCCS it looks like i need to go down the bankruptcy route as i dont have any spare money after the essential items are paid but im waiting to see if i can keep my car.
  Dont despair, things will work out for you too. It all seems like doom and gloom at the mo but honestly once youve had the chat you will feel a whole lot better. You will even start o find friends who are in the same boat and you had no idea. I know i have and have managed to help one friend out already.
  There are loads of really nice people on the site here too who can give advice and know exactly what you are going through.
  Keep our chin up