I am waiting for them to call me back to confirm about paying the instalments off, sorry for all the questions and thank you for your good advice, I honestly thought this would be straught forward but my excitement of finally finishing the trust deed has vanished, I will let you know there reply they saud their going to call me back

Sorry for the long delay I have finally had a call confirming that they will accept the rest of my payments from a third party, but I will bot be discharged from the trust deed until august as they are awaiting the outcome of PPI claims, I have spoken to there asset dept and they told me I am still in negative equity with the house ans if I was tomake the £500 payment it would protect the property. Can they keep me in the trust deed until august? How will they deem if I am any better off is there another review?

Hi paulc

If they are holding you to the end, there's probably no point in settling early.

From what you say, I think they are covering themselves in case you get a huge pay rise between now and August and would need to seek an increase in contribution if that were the case. I'm not sure when they do their reviews or if another one is due.

I would hope the position with PPI would have been well finalised before then and while they would remain in office to deal with this, I suspect they wish to keep you under the Trust Deed in case you receive any payments directly. Seems to be a bit of belt and braces approach.

Mark

I know for a fact I wont getting any form of payrise until 2015 at the earliest,also got my last ppi ckaim confirmed this week, if there is no money to be paid and no ppi to come in can I asked to be discharged, I take it they are waiting to see if I somehow come into money lotto ir inheritance or something they can staje a claim

You can ask, paulc, but it is up to your trustee at the end of the day and there isn't much you can do about it if they want to keep you to the original term.

If I do settle early and manage to get start saving money but without any changes to my income and expenditure can my trustee stake a claim in anything that I have saved, sounds a bit daft but my friend is happy to take a small payment per month and I willhave an extra 225 per month to start saving for holidays etc

I don't see why you shouldn't be able to save that money, paulc. Might be worth clarifying with your trustee that this is what you plan to do to make sure they see it the same way.

At the end of the day, your third party is paying in so that you don't have to pay this money across though, so your trustee cannot have it both ways.

Hi paulc

logically if there is no change in circumstances, there should be nothing to prevent you saving money as the income/expenditure & contribution has been agreed.

Mark