Hello colski.

You're free to re-train and or change jobs. Nobody can stop you.

If your household circumstances change I guess both trust deeds will need to be looked at in terms of payment amounts.

The major issue here will be if your, or both of your, payments need to reduce significantly. It's a voluntary change so I would have thought at a minimum you'd be looking at the trust deeds being extended to compensate the creditors in terms of what you originally offered and they agreed to.

If the payment amount that was affordable was to drop very sharply it might also jeopardise the viability of the trust deed.

One to work through the figures I think, then to run it all by your trustee so that you understand the potential consequences (if any).

Hi Colski

TDA is correct as there's nothing your trustee can do should you wish to take a different career path.

The only issue I can see, as mentioned above, would the the future viability if the trust deeds and a revised income and expenditure would need to be carried out to see if a realistic extension could be agreed. If not, then it may put one or both of the trust deeds at risk.

Mark

Thanks for the info guys.

Talking it through with my wife we think managing the PTD's for the next 1.5 years then making the move will be the better option. We don't want anything to risk or increase our terms...

Thanks for the advise.

I think that might well be sensible colski.

Trust deed or not, I guess a lot of people find that decisions about the direction of their careers are shaped to some extent by their finances at the time.