I joined a trust deed 2 years ago. Worst mistake ever made. How do I get out of it without them bankrupting me ?

Can I pay my creditors token payments? They will ask for income and expenditure? I heard when I’m a trust deed the creditors only get a fraction each month the trustee take most it

I’m self employed and entered a trust deed 2 years ago having 30 k of debt under the assumption I’d get to keep my tax returns but that isn’t the case. I’m having to pay 220 a month to my debt which along with everything ekse is putting a strain on me especially not getting my tax back. I want to pull out of this trust deed but there quite threatening like try and bully you into sending them bank statements. They froze my bank about last week I couldn’t pay my bills. What will happen if I just sack it off? I have a car on finance aswell can they touch that?

The iva conpany makes a sum based off what is agreed but tbh if itd a decent conpanyit wont be much and they wont rip you off tbh iva like anything else can be good if used appropriately and for the right corcumstances, i am in one now and i have managed to keep hold of my home

Trust me be positive be clear in you life if you want life to be better make sure you have credit score 967 wan you walk to bank you get the best loan and best mortgage rates any credit card you want

@Oye_TheRealDebtGuy Can you tell me if I sign up on the rolling contract if Ibcan cancel at any time. Also will I be speaking to you personally on forum when I sign up. 😊

I live in the USA and our Federal Reserve is bankrupt.

Thanks for sharing, Taking time out to make these video’s stay Blessed.🙏🏿

@Oye_TheRealDebtGuy Ok I am in a prediciment.... how would I pay token payments as certain banks wont accept my various credit card statements. Also I changed bank accounts so I have a loan with my previous bank so they have sent me a sort code and account number to make payments into.. I went into my old branch to pay a token payment and they also wouldnt accept that either. Any help please?

Sorry if this sounds stupid or if I missed something but how or when does an unsecured debt lead to a CCJ?

Stepchange refused to help me due to my being self employed. They knew they'd get nothing from me. I was shocked to be honest but after listening to this information, I understand why.

It's best to just let the debts default by not making any payments or having any contact if you can't afford to pay. Having an "agreement to pay" adds another negative marker on your credit files for an additional 6 years AFTER the debt is cleared.

Just discovered your channel on time!!! We were just about to go down the "stepchange" route. God really does work in mysterious ways. You are doing his work sir.

I need help

I stressed because everything on line say cc companys can sue you for none payment

I really appreciate your commitment and work just came across your channel. Please explain where your information in from when you say they buy the £10,000 debt for £300. Thank you in advance. Hope you are still around 🙏🏽

Borrowing money and not paying it back is stealing. Period.

Excellent

if i have a payment plan with lowell but its not classed as a token payment can they still take legal action against me such as sending bailiffs to my house or getting a ccj?

Have you deleted some videos from your channel...I was looking for real estate videos and couldnt see it

My credit score is low. If i not pay credit cards at least i will not be able to get loan for other car to taxi. Simple.

You have honestly been missed my brother. The first time listen to your advice and read up most of the article on your website, that honestly allowed me to start living again. In the past I kept on having nightmares about my debts. I feel so upset about everything, even though I was trying to pay for all my credit cards and loans, I felt burned out and I have nothing left. I just gave up. And few months later I lost my job. It was just too much. Welcome back, I am definitely sharing all your videos in my work group. God bless u.

I have a great respect for u my brother. U help lots of us understand what is really going on my brother. Stay safe.

Wow thank you.

One of my debts has just been sold to a DCA, for some reason the amount they've sold it for appeared on my online statement for a few hours before it disappeared. £0.0235 in the £1 it worked out at.. That's just infuriating that they're now going to come to me for the full amount based on it being sold so cheap to them. Jebus on a bicycle 😮 I'll follow the advice on your videos. Thanks 🙏 god bless.

This channel is brilliant! I have negotiating a debt and this is eye-opening!

Ok but what if they are threatening wage garnishment

Great guy

🙏🙏🙏🙏

So they dont freeze your bank accounts?

Thank you kind sir. I have a new perspective now. I am retired anyway, thus income here safe from my own bank. And they are just predatory agencies. Now I look at my debt balance and cackle. Lols. Gonna see if some fool will sell me a 2025 Land Cruiser. 😂

Budgeting made easy! Great share, Oye!👍

Oye, when/how does a non-priority debt become a priority debt or enforceable? Thanks

Who cares if they get a subsidy if theyre getting people out of debt? The point is that people in debt need help to stop getting into more debt, the principle of helping people remains, regardless of any payments step change get… stop slating them and encourage people in debt to use them… ffs. Gullible people fall for your bs

Can solicitors who take the debt on take you to court to get a ccj on an existing default? Thanks.

My mindset switched instantly thanks for the advice im going to watch stress relief stuff 😮 who knew it was that simple

When those letters from the attorneys start showing up in your mailbox and the credit card lenders start blowing up your phone all day be sure to tell them how much debt Aplle owes. Let us know how that works out.

Hi good advice, I have an issue , and would like some advice I live in the UK, I keep getting letters from a debt collection agency for the sum of just over 22k , I have never had and loans or cards and never been in debt , I always pay cash for things , if I can't afford to buy something I safe, I have lived over the years in some bad bedsits and its in one of those I believe that someone has taken out a loan in my name the debt is nearly 20 years ongoing and I have never contacted the bank or the debt people to sort this out as its nothing to do with me and don't want to claim the debt as mine , I have moved to a new home and yesterday I got a letter from a debt collection agency about the debt , I do want I alway done , bin it , I think over the past nearly 20 years , I had 3 letters about the debt , what should I do next , is they a limit of years which they can chase me for the debt and can they turn up at my new home and start taking stuff , I am newly married and just need so advice as citizens advice are a waste of time ty

It works

When do debts become statute barred and unenforceable?

Can default turn to ccj?

I took summons threw it straight into the fire. Debt was eventually written off. The banks create money out of thin air so f them, if push comes to shove use a promissory note ;)

Is this satire? Wtf

Legend

Love your videos Oye I was thinking of going into IVA OR DMP but your video has got me and educate me But quick question What will happen after 6 years of default on your credit rating Will this affect my credit score ?

I'm $3000 in the hole and I'm still using my credit card on Amazon like a kid looting a candy store. Life is too short not to enjoy yourself.

Mine is going to wage garnishment so I can’t ignore it . Mine isn’t on my credit though . I think they bought this judgment from original cc company. . I have great credit . This judgment coming now sucks. They can only take 10- 25% depending on your incomethankfully . I don’t want to file bankruptcy since I have great credit.

Another banger Oye! thank you! this is very helpful!

What is a token payment for a ''reasonable time'', and what happens after that period of time ?