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Topic starter
16/07/2013 1:41 am
Hi there, couple of questions
I have my first annual review coming up, i live at home with my parents, about. 4/5 months ago i was asked by them to pay more rent, which obviously i was unable to do, luckily i have a family member who owns a successful business, who were willing to give me a new job with a bit better money, as at te time i was worried my TD would fail if i couldnt make the monthly payments, the new job basically pys me about £180 a month more, after tax & ins about 130 ish more, now my rent went up 30 a week so basically im about a tenner a month better off, but i never explained any of this to my IP it was someone in my work who brought this to my attention that i should have fisclosed this circumstance, i really just fixed it myself rather than phoning up the ip which id rather not do, will there be an impact on my td regarding this ? Im not on the beat of terms with my parents about the entire situation, but they would give proof id imagine of me paying the extra money, what will happen im a little worried regaring all this i really was nver told that id have to tell them EVERYTHING, ps they dont know ive switched jobs, al be it id rather they didnt know as its a family run business and id hate for them to somehow contact tem about it ( i still have a LOT of worry regaring the whole situation)
Cheers
Robert
16/07/2013 7:40 am
Best to contact them and explain what has happened. Most IP's don't look for the whole of any increase, depending on what you signed you may find they'll look for a share of it. That said, my wages went up by £20 a month recently so I informed the IP about it. They asked for a new income and expenditure sheet which showed I was no better off because of changes in my outgoings so there was no change in payments to my TD in the end. Give them a call and explain what you have here as it will save you strife later on.
Glad that's over with....
16/07/2013 10:28 am
Welcome to the forum Bobbyfrankel.
It's best to notify your trust deed provider if anything significant changes with your circumstances.
A new job and increased rent both probably fall into the "significant" category.
Leaving it too long may store up problems for later that might have easily been avoided with a bit of communication.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
16/07/2013 11:13 am
Your trustee is very unlikely to contact your new employer Bobbyfrankel, though will probably look for evidence from you of your new level of pay (ie recent payslips).
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
