Is a Trust Deed or a Bankruptcy the best solution for you?

Mortgage repayment costs rising?

Household budget already stretched?

Is a Trust Deed or a Bankruptcy the best solution for you?

Recent press coverage has shown that a number of lenders are poised to increase their standard variable mortgage rates. These lenders are claiming that the rate increases are ‘justified’ and are blaming the ‘weak economy and the increased cost of funding a mortgage.’

Whilst the initial rate hike may not be too large, there is genuine fear in the wider community that further increases could prove problematic for many Scottish households, whose budgets are already stretched to breaking point, as a consequence of ever increasing bills and also having to service existing credit?

So, where does this leave you? Many households will undoubtedly struggle and will be looking for ways to ‘relieve the pressure.’ But how will you do this?

• Pay-day loans?
• Using credit cards to pay for groceries?
• Borrowing from friends and family?

These are all short-term, ‘quick fix,’ answers and, quite frankly, the thought of individuals/households resorting to taking out pay-day loans or, worse still, using a credit card to buy ‘the weekly shopping’ should chill us all to the bone, as the potential for financial disaster is there for all to see.

We, at MLM Solutions, feel that there are other options available to you, other than the ‘quick fix’ remedies mentioned above. These could address the situation in a not so potentially costly, or problematic, manner.

Everyone has heard stories of people who enter into Trust Deeds, or who find themselves declared bankrupt, losing their homes. Whilst that may be true in certain circumstances, it is not always the case and here at MLM Solutions we believe that we have other ideas on how to ‘keep the roof over your head.’ Your home is not necessarily at risk and the majority of home-owners we deal with will retain their properties, whilst, at the same time, relieve themselves of the financial burden of unmanageable credit agreements/loans/credit cards, without having to plunge deeper into debt via the ‘quick fix’ options referred to above, which are all too often promoted in such a way as to suggest that they are ‘the answer’ to your problems!

So, for a free, no obligation chat, either in one of our 3 offices (Glasgow, Edinburgh and Livingston) or in the comfort of your own home, then contact us on 0800 138 0707, e-mail us at debt@mlmsolutions.co.uk or find us on Twitter or Facebook  and one of our team of friendly, professional, debt advisers will contact you to arrange a suitable time to meet and discuss matters further.

For more information on all of our debt solution services, including Trust Deeds and bankruptcies, go to www.mlmsolutions.co.uk