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Scottish Trust Deed Forum
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Topic starter
24/06/2020 10:39 am
Hi - does anyone know if making additional payments to ur trust deed will mean it will end sooner?
And could making regular additional payments (eg an additional payment every 2nd or 3rd month) make the company increase your monthly payment amount?
Any advice welcome! TIA
24/06/2020 11:24 am
Hi Xlynk.
By law your trust deed must run for at least 4 years, unless you fully repay the total of:
1 - Your debts
2 - Interest on those debts
3 - Your trustee's fees and costs
Making regular additional payments might alert a trustee to the fact that you could afford a higher regular contribution.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
24/06/2020 8:51 pm
When you enter into a Trust Deed you are agreeing to pay as much as you can reasonably afford for the full 4 years. If you can afford to pay more then your trustee should be requesting an increase in your contributions anyway - it doesn't get your Trust Deed finished any earlier (unless the debts/interest/costs are paid in full as stated by TD above).
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
