Welcome to the forum Cparky.

Not the answer you're hoping for I fear - your trustee would appear to be well within their rights to review your situation again. The trust deed isn't complete until your trustee considers that you've completed your obligations.

That doesn't mean there necessarily will be another review though - it comes down to the procedures of the firm concerned.

Sorry I cannot give you better news, but I'm glad to hear you've made a lot of progress already towards putting your debts behind you.

Thanks. So even after the trust deed has finished in 11 months they can ask to see statements etc? So by that logic as long as I have arrears they can increase the arrears amount? Seems like trust deeds are terrible options unless you earn low amount and it doesn't change over the course of the trust deed. Basically your credit gets screwed and you have to live on the bread line.

That's not quite what I said Cparky.

The first thing is that the trust deed isn't finished after 3 years. It's finished when you complete your obligations and are discharged.

A second thing is that a review doesn't change the amount of the arrears necessarily. So you might be asked to pay more each month if your income increases, but that might clear the arrears sooner.

In terms of a trust deed being a terrible option, you're entirely entitled to your own views of course. Two questions I'd ask though:

1: Would your longer-term financial prospects be better or worse if you hadn't started a trust deed a couple of years ago?

2: Will your creditors be repaid the full amount that you owe them?

Thank you for your post. I am one of the team here at Wilson Andrews.

Once your Trust Deed gets to its scheduled end date (whether that is month 36 or 48) then we will complete a final review with you. After this point we won't re-assess your income or ask for bank statements or payslips.

You will still need to make payments into your Trust Deed to clear the arrears that built up whilst you were earning a higher income - but those arrears won't increase even if you are earning more now. You can clear the arrears as quickly as you want, so if you are earning more and can afford to pay extra you may wish to do so in order to complete your TD sooner.

I hope this makes sense. I believe that you may have been in touch with your Relationship Manager today, but if we can help in any way please do get in touch.

Steve

Yeah I had a chat with my relations manager from Wilson Andrews about this and he echoes your words. The issue I have is that potentially I come to the end of a 3 year trust deed and still find myself in thousands of pounds in dept. Defeats the purpose of it. Something that is not a problem for those who earn less.

Can I clarify, were the arrears as a result of being unable to pay whilst unemployed, or due to an increase in income that wasn't made known to your Trustee when it happened?