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Preparation Guide

Documents and Budget Checklist

Getting prepared before you speak to a Trust Deed adviser can make the process faster, clearer, and less stressful. You do not need to be perfect — but the more accurate your figures are, the better the advice will be.

Why preparation matters

A Trust Deed is based on your real financial situation. If key figures are missing or inaccurate, the recommendation may not reflect what is actually affordable.

Tip: If you do not have everything, start with what you can find. Even partial information is better than guessing.

1) Debt information

Try to gather details for all unsecured debts, including:

  • Credit cards
  • Loans
  • Store cards
  • Catalogues
  • Overdrafts
  • Payday loans
  • Debt collection letters

Useful details include:

  • Creditor name
  • Reference or account number
  • Approximate balance
  • Whether the debt has been sold to a collector

2) Proof of income

  • Recent payslips
  • Benefit award letters
  • Pension income details
  • Self-employed income records
  • Bank credits showing regular income

3) Bank statements

Recent bank statements can help show what is really happening with your money. These are useful for:

  • Verifying income
  • Checking essential bills
  • Spotting missed subscriptions or hidden costs
  • Understanding overdraft use

4) Household bills and essential costs

  • Rent or mortgage
  • Council tax
  • Gas and electricity
  • Water charges
  • Broadband and phone
  • Travel or fuel
  • Childcare
  • Insurance
  • Food and housekeeping

5) If you own a home

Homeowners should also gather:

  • Recent mortgage statement
  • Approximate property value (even an estimate)
  • Any secured loan information
  • Mortgage arrears details if relevant
Important for homeowners: Property equity can affect suitability, so this information matters more than many people realise.

6) If you have a car

  • Vehicle registration
  • Estimated vehicle value
  • Finance agreement details (HP, PCP, lease etc.)
  • Monthly finance payment
  • Insurance and running costs

7) Build a realistic monthly budget

Do not try to make your budget “look better” by underestimating essential costs. A Trust Deed only works if the payment is sustainable in real life.

  • Be honest about food costs
  • Include travel and work expenses
  • Include children’s costs
  • Include irregular but real expenses where possible
  • Do not ignore annual bills like car insurance

Simple checklist summary

  • All creditor names and approximate balances
  • Recent payslips or income proof
  • Benefit letters if applicable
  • Recent bank statements
  • Rent or mortgage details
  • Utility bills and household expenses
  • Car details and finance (if applicable)
  • Property and mortgage details (if homeowner)
Ready to get a realistic answer? Use our confidential review form once you have your basic figures together.