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Topic starter
05/06/2015 7:12 am
Hi
I have previously posted about my husband being made redundant. This has now been confirmed.
He may have another position lined up but the wages are a lot less than what he is on now. We have looked at the figures and although we would be able to afford to pay the mortgage and bills there would be very little left for the trust deed.
Would somebody be able to advise what would happen if he took this position? We are thinking that it at least he would not be unemployed but afraid that we would not be able to carry on with the trust deed as we would not be able to pay in the amount we are paying at the moment. Any advise would be appreciated.
Gillian McIlroy
05/06/2015 9:05 am
Hi gmac.
This is probably one of those questions that is best addressed to your husband's trustee. They may have some discretion about how things proceed if he takes this new job.
Some possible outcomes are that the trust deed payment is reduced without an extension, that the trust deed payment is reduced with an extension, or that it's concluded that the trust deed is no longer suitable and that another option needs to be found.
It all really comes down to the detail and the view of the trustee though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
05/06/2015 3:47 pm
thanks for your reply.
Gillian McIlroy
