Personal Debt

[Polly]

Hello everyone,

 

Not sure if this belongs here or in the 'everything else' forum.

 

After years of trying, unsuccessfully to get out of debt myself i have at last taken the obvious, first step that everyone knows they should do and spoken to a professional. After a lengthy phone call yesterday i now have to go and talk to someone face to face next week. A 'Protected Trust Deed' was advised as the most obvious course of action over the phone, with 'Sequestration' mentioned as an alternative if the PTD was unsuccessful.

 

Has anyone had experience of having to go down this route and could they give any insight as to the lasting effects of such actions?

 

Any advice or personal experience would be greatly appreciated. Its all sounding pretty scary to me at the moment.

 

Polly

[MJ]

I would ask if you've spoken to Citizen's Advice Bureau (CAB) before going down any avenues that may not be nessesery. Have you read pages such as this on trust deeds?

 

CAB is free and confidential, and can even 'hold your hand' through the process. To be honest you've done the scariest bit and asked for help.

 

CAB can be found in lerwick at

 

Market House 14 Market Street, Lerwick, ZE1 0JP

 

Tel. no. 01595 694696

 

Email

sicab@zetnet.co.uk

 

Opening hours

Monday

9.30 - 12.30 and 14.00 - 16.00

Tuesday

9.30 - 12.30 and 14.00 - 16.00

Wednesday

9.30 - 12.30 and 14.00 - 16.00 (appointments only)

Thursday

9.30 - 12.30 (Welfare Rights appointments only)

Friday

9.30 - 12.30 and 14.00 - 16.00

Saturday

10.30 - 13.00

[MJ]

Forgot to say that a lot of those debt management companies out there are a rip off, they make money out of your pain, so don't fund them use the CAB, why waste money you don't have?

[Para Handy]

Carruthers & Co,

2-4 & 6 Pitt Lane,

Lerwick

ZE1 0YP

 

Is the Place to go to I can personally recommend him for any financial problems as I was sent there by the CAB when I took Ill health retirement about 8 years ago. He deals with nothing but money problems

[trooter]

Carruthers & Co,

2-4 & 6 Pitt Lane,

Lerwick

ZE1 0YP

 

Is the Place to go to I can personally recommend him for any financial problems as I was sent there by the CAB when I took Ill health retirement about 8 years ago. He deals with nothing but money problems

 

 

Carruthers has recently retired and shut up shop

[Para Handy]

Carruthers & Co,

2-4 & 6 Pitt Lane,

Lerwick

ZE1 0YP

 

Is the Place to go to I can personally recommend him for any financial problems as I was sent there by the CAB when I took Ill health retirement about 8 years ago. He deals with nothing but money problems

 

 

Carruthers has recently retired and shut up shop

 

Did not no that Thanks

[Polly]

Thanks so much Shetlinkers i have received a few pm's as well. Thank you, thank you.

 

I originally called these guys http://newtomorrow.com/. Who put me in touch with the company Invocas. I am meant to be going in to sign the papers for the Protected Trust Deed on Monday but have arranged to go into CAB before hand. I will probably just go into Invocas and see what they're saying and ask for a little time before i sign anything now.

 

I should have pointed out i am not currently in Shetland but do come from the Isle.

 

Again, thank you, all advice greatly appreciated.

 

Wishing you all a nice weekend.

 

Polly

[Boogaloo]

Thanks so much Shetlinkers i have received a few pm's as well. Thank you, thank you.

 

I originally called these guys http://newtomorrow.com/. Who put me in touch with the company Invocas. I am meant to be going in to sign the papers for the Protected Trust Deed on Monday but have arranged to go into CAB before hand. I will probably just go into Invocas and see what they're saying and ask for a little time before i sign anything now.

 

I should have pointed out i am not currently in Shetland but do come from the Isle.

 

Again, thank you, all advice greatly appreciated.

 

Wishing you all a nice weekend.

 

Polly

 

Hi Polly,

 

Newtomorrow.com is part of the Invocas Group. http://www.invocas.com and http://www.newtomorrow.com

 

Both companies appear solid and I cannot find any consumer complaints against them.

 

More details here:

http://www.invocas.com/services_pers.aspx

 

Read all about Trust Deeds:

http://www.newtomorrow.com/faq_scotland.aspx

 

Go forward - and let the past be just that - in the past, and a new tomorrow will dawn.

 

All the best,

 

Paul

Consumer Advocate

Writer & Broadcaster

Editor of: http://www.rip-off.co.uk

 

Consumer Tips: http://www.rip-off.co.uk/survival_kit.htm

[drewloe]

have you tried either www.payplan.com 0800 917 7823 or www.cccs.co.uk 0800 138 1111.

 

both offer free services so all you pay goes towards your debts. I have tried both and I prefer payplan because I found cccs was too strict on the amounts they allow in your budget.

 

Using a debt management company is a big help if I get any letters now I just pass the details on and forget about them, No more hassle, its great.

 

I also recommend you have a look at this site moneysavingexpert.com for advice on all money matters and his sister site saynoto0870.com for finding alternitive numbers for 0870, 0845 etc, this will cut down your phone bills.