Hi blackpanther.

I think you're going to need to talk this through with your trust deed provider pretty soon.

It does appear that, on the surface of it, a trust deed might not any longer be appropriate for you or your creditors if you cannot make contributions to it.

Thanks

What do you think would then happen if the trustdeed no longer works for me

I think you should see what attitude your trustee is going to take blackpanther.

You could argue that this change is outside of your control, and that may influence how the situation develops from there.

Perhaps this is one of those questions where some input from one of our trust deed firm representatives would be useful.

Do you think you'll be able to maintain any level of contribution?

Yes i would hope to still be able to pay something each month but not sure how much until ive found a flat and worked out bills my mums offfered to help me with a deposit etc .it is totally out with my control because i cant move down to england and give my job up.do u think its possible that my payments would be reduced to allow me to continue with my td?? What would be the next step if a td was no longer a option for me??

The problem here blackpanther is that there are too many things we don't know.

For example, will your trustee see this as being a change of circumstances that was outside of your control?

If they do, we know of some trust deed firms that would consider that you should not lose out as a result of this and you'd just carry on paying what you can afford for the rest of the three years.

We also hear about some trust deed firms that just discharge themselves when the trust deed no longer appears to be viable in such circumstances, which would leave you back with your debts.

If that happened you could look to bankruptcy if it will not affect any important assets or your employment. You could also look to the debt arrangement scheme if you will retain the ability to pay the debts back over a term that isn't ridiculous.

I think you need to talk to your trust deed firm as it's going to be hard to plan, or think this through any more, until you understand how they are going to see this situation.

Thanks TDA

Ive phoned this morning and the lady thats dealing with my trustdeed is out of the office til this afternoon and will phone me back..hopefully will get a idea where i stand

It can depend on what job youre in as far as bancruptcy goes i worked in banking and i was ok being in a trust deed but if i went bancrupt i would have been paid off..its all in youre contract

Hopefully i can sort something as i really dont want to go down the road of bankruptcy..i hope maybe my trustree will see that the situation is out my control as i cant really force my parents to not sell up.