I have asked my Trustee this question but I have not had an answer. My son lives with his Dad and he is at high school. At the moment my Trust Deed does not include the payment of any maintenance. My ex-husband is now not working and I know they are really struggling. He has asked about maintenance but it is not part of my Income and Expenditure at the moment. I am trying to get a slightly better paid job to be able to pay maintenance and also pay the same amount into my Trust Deed and I have asked my Trustee if this would be acceptable. I have been in touch with the Child Support Agency and they have given my guidelines on payments amounts. Is it OK to pay child maintenance?
Hello pheonix2.
You'll probably need to negotiate this with your trustee.
Maintenance payments don't sound unreasonable, and in certain circumstances you might be forced to pay it anyway.
Your trustee will just need to weigh up the consequences for your creditors in light of any changes that might result.
You may need to keep on at them until you get an answer.
Thanks TDA, I will try again to get an answer.
Your ex-husband may have a legal right to be paid maintenance and your being in a trust deed has no bearing on that. So your trustee cannot stop maintenance being paid if it is due, however it may have consequences for your trust deed if you cannot maintain the level of payments that were initially proposed.
Thank you Kevin. I recently applied for a better paid job and will be able to pay maintenance and also increase the amount that goes into the trust so I am hoping this will be acceptable to my Trustee. I have written to them with a revised Income and Expenditure based on what I expect my increased income each month will be. The payments into my trust will be more than doubled. I don't suppose this means I can finish the trust early does it??
No the trust deed wouldnt finish early unless you repay your debts in full, plus trustee fees, plus statutory interest (currently 8%).
Good luck with the job.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Thanks for all the advice. Much appreciated.