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Scottish Trust Deed Forum
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Topic starter
04/01/2012 12:32 pm
Hi,
When I signed my Trust Deed in October my wife (who is not in a trust deed) hadn't been working for some time and I was covering all the shopping bills and other expenses and the Trust Deed was of course based on my circumstances. Since then my wife has got a job and could potentially cover some of the shopping bills. I am paying a reasonable sum to the Trust Deed: £300 now and £470 from next year which is I suppose at the edge of what I am able to pay. What would this mean to my circumstances when it came to a review period? As my wife is not in a Trust Deed would her situation have a bearing on my Trust Deed?
04/01/2012 1:02 pm
Hi DontDoDebt.
This quite probably will have an effect on your trust deed. I'd suggest that you contact your trust deed firm very soon so that you know where you stand and can plan accordingly.
Your wife isn't obligated to pay towards your debts, but it's fair enough that she pays her fair share of your household expenses if she is in a position to do so.
The effect of that is likely to be that your recorded expenditure reduces and therefore an increase in your trust deed payment is due.
The positive side is that your wife's disposable income (which did not previously exist) is hers to spend as she wishes. As such, as a couple overall, you should be better off for the remainder of your trust deed if she remains in work than you would previously have been.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
04/01/2012 1:20 pm
Thanks TDA I will take some action on this!
04/01/2012 8:21 pm
Hi DontDoDebt
TDA is correct, it will have a bearing on your payments a your wife will have some income to help with the household bills. It is usually calculated on a pro-rata basis: ie if you earn 70% of the household income, then you should pay 70% of the household expenses; at the moment you are paying 100% of the household expenses. You will still be better off overall.
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