Hi BigEck.

If you pay four-weekly there are effectively 13 "months" in your year (52/4).

My guess is that your trust deed will therefore run for the full three years, which would be 39 payments.

A question to clarify with your Trustee I think.

Hello.

Thanks for your reply, i will call my Trustee and find out!
Oh well looks like i still have 8 payments to make... im starting to count down to debt free! Can't wait!

Hi bigeck

Normally the Trust deed is 36 payments of the agreed amount. The important part is the proposal sent out at the start.
Have a look at what was sent to creditors and look at the total figure for contributions and you should be able to calculate it back.

I have a number of Trust Deeds who pay weekly and this means the Trust Deed will finish before the 36 month period.

Mark

Please let us know BigEck, I do hope that Mark is correct.

The answer will be of interest to many people who are paid weekly or four-weekly.

Thanks again for your replies. My paper work is at my mums, going there tomorrow so i'll have a look and maybe give my Trustee a call to clear it up.

I will report back with my findings.

Thanks again.
Eric

I get paid four weekly and suggested that I make a payment every four weeks but was told that this was not possible, it had to be monthly rather than four weekly. Not a problem but if it was 36 payments I would be finished slightly earlier - having said that, that's nearly a year up already, only two more to go!!

There is certainly no set period that a trust deed must run for, though the generally accepted period is 3 years and I believe that most insolvency practitioners do stick to this.

The deciding factor is the time period stipulated on the trust deed itself. I imagine you are likely to have to pay for 36 months rather than 36 payments I'm afraid BigEck.

Morning all,
After looking at my paper work it seems to be i have 39 payments to make in total. Not to worry 29 weeks tomorrow and i'll be debt free!!

Thanks for all yur help.
Eric

Hi BigEck,

Looking at the comments from Mark and Kevin there are clearly different ways of going about dealing with weekly or four-weekly trust deed payments. As so often is the case the answer is determined by the actual agreement in the written trust deed document, which can so often be seen to vary a little from company to company and also as a result of personal circumstances.

I'm glad that you know where you stand; I'm sure the last few months of your trust deed will pass by in no time.