Hi,
My circumstances over the last 6 months have changed and I have just updated my trustee with all the information. 2012 wasn't a great year!
- I live at my parents' and due to their own financial problems have asked for more towards rent, bills etc or they will look for a smaller house, meaning I would need to find my own flat
- I am now split up from my son's mother and am voluntarily giving her a set amount each month for maintenance. I dont want to go through the court process and have agreed to pay a few of her bills.
- My salary changes from month to month, dependent on overtime payments. Some months I am behind on contributions towards my outgoings and other months I can re-pay it when I get extra hours
I am nearing the end of my trust deed and I am worried that they will ask me for more money as my salary appears to increase some months. I can evidence that I pay out more and my mother / ex-partner are willing to put in writing to confirm the change of circumstances.
I have never missed out on a trust deed payment, and nearing the end I suppose I am getting extremely worried about it getting extended as I can see the light.
Any help / guidance is appreciated.
C
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...
Hello cp1872.
This is all just going to have to be talked through with your trust deed provider.
Circumstances can and do change during trust deeds. It may well turn out that there is nothing for you to worry about at all here.
I do hope that turns out to be the case and please let us know how you get on.
Thank you.
I updated them yesterday of events so just awaiting word back.
My main worry is that they will say I should be paying less towards my ex-partner or paying less towards the bills in my mothers house.
I am the main earner in both situations and due to both parties knowing my income, they expect me to provide accordingly.
My worry is that the trust deed company feel that I should also be contributing higher in certain months when I get higher salary, despite this higher amount being distributed to others to allow me to have a roof over my head and keep seeing my son.
I will keep you updated.
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...
As long as the extra costs are reasonable then I'd have thought that most trustees would be comfortable with this.
In terms of child maintenance, do you know if you are paying more than you would if it had been set by CSA?
Potentially around £30 more per month, according to the online calculator.
She was wanting a ridiculously high amount to begin with as she knew my salary. I had to remind her that I had a contribution towards my trust deed and she had to accept.
I used to pay for him to attend a private nursery at the cost of nearly what I am paying now so I hope that shouldn't be a problem.
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...
Thanks. I think the work you guys are doing here on such a sensitive / worrying subject is first class.
On the current contract I have in work, I will be due an overtime payment on 28th April. This amount will be due to the amount of hours I have done from now to the end of March.
I have made contact with the TD company to find out how much they will want and if it would be worth my while doing the extra hours.
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...
Just a wee update, my TD company have said that due to my own personal circumstances I would be entitled to keep the overtime payment.
It's moments like these that make you realise that entering into the trust deed was a good idea. For anyone reading and at the start of the TD, you will hopefully get the light at the end of the tunnel eventually even if you feel stressed for the majority of it!
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...