Advice on overtime
 
Notifications
Clear all

Advice on overtime

7 Posts
3 Users
0 Reactions
5,345 Views
(@hf1998)
Eminent Member
Joined: 9 years ago
Posts: 42
Topic starter  

Hi if I work overtime can this be paid into trust deed and does it come off the balance of my debt?


   
Quote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi Hf1998.

If you earn overtime your trustee will require that some or all of it is paid over into your trust deed. You should contact them to establish their expectation on this.

I think we fully covered what would need to be paid over in total to ensure an early release from your trust deed in a previous thread. Payments from overtime would count in the exact same way as payments from your regular income or any other source. I think this might be what you're getting at but let me know if you're asking about this from a different angle.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@hf1998)
Eminent Member
Joined: 9 years ago
Posts: 42
Topic starter  

Hi thanks for replying...I was hoping to maybe work overtime or get a 2nd job pay this into trust deed along with regular payments from income & have full amount of debt paid d before 4 year.


   
ReplyQuote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

All payments would count in the same way Hf1998.

You'll remember the comments from before regarding trustee fees and interest.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@hf1998)
Eminent Member
Joined: 9 years ago
Posts: 42
Topic starter  

Yes I remember all that too, I need to pay full amount of debt, interest plus all fees to finish trust deed early. I just wasnt sure if you could end up paying more than the original debt. Thanks


   
ReplyQuote
Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 17 years ago
Posts: 4253
 

The original debt plus interest plus the trustee's fees and outlays are the most that you could end up paying back, Hf1998.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
ReplyQuote
(@hf1998)
Eminent Member
Joined: 9 years ago
Posts: 42
Topic starter  

Thank you both for your info


   
ReplyQuote
Share: