can they do this ??...
 
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can they do this ???

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(@stephenjc007)
New Member
Joined: 12 years ago
Posts: 4
Topic starter  

I am due to make my last payment to my trust deed on the 1st May 2014. I was told to submit my last set of payslips and bank statements on October 2012 and this would be the last that they would require. The trust deed called me last week to say that things had changed and they now require payslips and bank statements from OCT 2012 TO April 2013. Its seems as if they have just moved the goal posts and now potentially i may have to pay a higher monthly fee or extend over the 4 years. can they do this ?



   
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(@voice-reason)
Estimable Member
Joined: 13 years ago
Posts: 106
 

They can certainly ask to see the payslips.

Did your circumstances change at all throughout the period they are asking for? (New Job/Significant payrise)

If not then I wouldn't worry too much at this stage.



   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

I think they are entitled to ask, however as mentioned above, if there has been no material change in circumstances, then it should not be an issue hopefully.

Mark


Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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(@stephenjc007)
New Member
Joined: 12 years ago
Posts: 4
Topic starter  

I have had a payrise, nothing significant though, although i have worked a bit of overtime to ease my situation and the fact that I was told no more payslips or bankstatement required it seemed the right thing to do and now I may suffer. Its just that they did tell me that was the last i would need to send, last year, and suddenly they have been told by the regulators to request additional 6 months info [:(]



   
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(@stephenjc007)
New Member
Joined: 12 years ago
Posts: 4
Topic starter  

I have had a payrise, nothing significant though, although i have worked a bit of overtime to ease my situation and the fact that I was told no more payslips or bankstatement required it seemed the right thing to do and now I may suffer. Its just that they did tell me that was the last i would need to send, last year, and suddenly they have been told by the regulators to request additional 6 months info



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

Hello stephenjc007 and welcome to the forum.

I can understand why you'd want some extra income, but being told that you wouldn't need to submit further payslips and bank statements didn't mean that you didn't have to notify your trustee if your circumstances changed.

If the pay increase merely covered an increase in the cost of living you may be able to argue that no extra contributions should be due. It would be useful if you could provide evidence of increased bills to them if you choose to argue this (to set against your increased pay).

In terms of overtime your trustee is likely to require that some or all of this is paid over for the benefit of your creditors.


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


   
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(@stephenjc007)
New Member
Joined: 12 years ago
Posts: 4
Topic starter  

Okay thanks



   
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