I thought bankruptcy was my only option ...

My problems with credit began when I went to University, as I soon found that my student loan would not cover all of my expenses. I had to pay for books, fees, accommodation, food, and all of the other things that I had taken for granted at home. My parents helped me when they could but as I still had three younger brothers and sisters at home this wasn't very often.

I began to use credit to pay for the things that my student loan would not stretch to, like food and materials for university. I was also socialising a lot more because I was trying to make new friends as I was living in a strange city. I found it too easy to rely on credit, and with hindsight I know that I overspent when it wasn't appropriate for me to do so.

When I graduated from university, I managed to get a job in a bank. My overspending continued, I had a huge student overdraft, and various credit cards and the only option my bank would give me was another loan. I didn't see how this would help as I was already struggling with my repayments and was frightened of getting further into debt. I didn't want to lose my job in the bank but I was convinced I would have to be made bankrupt.

When I contacted Campbell Dallas Debt Solutions, I wasn't really sure what to expect. They took details of who I owed money to, what my earnings were and how much money I needed to pay my monthly expenditure. They explained the various options available to me such as a debt management plan, debt restructuring and so on, but I decided that the best option for me would be a Trust Deed.

I was concerned that my creditors may not accept the course of action due to my age and circumstances; I was also concerned as to how it may affect my job. The advisor that I spoke to advised me to speak to the personnel department of the bank to see if my job would be affected.

After I had spoken to my employers and they had assured me that my job was safe, I signed the Trust Deed and have now begun to make monthly repayments.

M Barry of Edinburgh

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