Hi gresgow.

It doesn't sound like your trustee is bluffing at this late stage, so I think you have to decide whether or not to prioritise keeping your home.

Hi gresgow,

The consequences of not paying your Trust Deed could result in you losing your home.

Can I ask what the consequences are if you miss your Trust Deed payments to pay your other bills?

As TDA has said its about prioritising what you feel is the most important payment to make.

To be able to give you some advice or guidance/help it would be useful for us to know a little more if you feel comfortable enough telling us.

Hi David

My Trustee has said that he is not prepared to allow me to miss the two payments to pay the other debts instead.

If I do not pay these other debts I could lose my job

Hi gresgow,

I had a feeling it may have been something to do with your job.

It's an extremely difficult position to find yourself in. If you don't have a job then you can afford to run a house, pay bills etc but obviously at the same time a home is one of the most important things in life. Both of them almost go hand in hand.

Without knowing the full in and outs of your Trust Deed and the situation with your job it's hard to say what you should do.

As an advisor I would always try to allow someone the opportunity to remain in their home and have a roof over their heads but at the same time I've picked up that your Trustee has allowed extensions and accepted missed payments in the past.

Do you have the ability to speak with friends or family about your situation and would they be in a position to offer some supoort and financial assistance or guidance on what to do?

If you lost your job, could you find another job easily doing the same role on the same income? Also, if you lost your job I assume you wouldn't be able to meet the arrangement with your Trustee over the equity? Some people can find themselves almost trapped in a job in that the salary is high and to leave or lose this job may mean a high possibility of not finding a job on a similar salary.

If you lost your home but still had your job you would have the chance to start again, find another home and be secure. If you didn't have a job doing this would be difficult.

I'm not saying you should do one thing or the other as that's going to come down to you, I'm just trying to give you things to consider when weighing up what is more important and what to prioritise.

Thanks David for your reasoned in depth and reasoned reply.

Still don't know what to do for the best.

Hopefully I will make the right choice.

David

Sorry I did not answer your question last night.

My family have dealt badly with my problem in the past and I cannot handle them doing this again.

I have asked my workmates for financial assistance in the past and feel embarrassed about the mess that I have got myelf in to.

For these reason I do not feel that there is anyone else that I can approach for assistance on this matter.

Thanks

Hi gresgow,

If you decide to pay your Trust Deed that may allow you to keep your home in the short term but if that results in you losing your job then how are you going to keep to the payment arrangement under your Trust Deed to pay over the equity.

Unfortunately I think your Trustee has come to a point where they feel they are unable to continue extending your Trust Deed and have taken the decision that they have. As I've said without really knowing the exact arrangement with your Trustee it's hard for me to comment or really give an opinion.

Everyone's first instinct is to try and protect their home and secure this but sometimes due to a variety of reasons and circumstances this just isn't possible. The hardest thing to face up to is losing your home or job and you are faced with both at the same time.

Me personally speaking, if it was a choice of protecting my home or securing my job and income then I think I would pick my job. Balancing up the choices of my home or job, with an income I have a lot more opportunities, I can secure alternative accommodation and not rely on emergency housing if I was unemployed.

If I choose to try and keep my home and I lost my job and I didn't find an alternative job to enable me to pay my mortgage and bills then eventually I would lose my home and be without a job or income.

Every person is different and their thought process and reasoning when making a decision is different. I can't begin to imagine how you must feel facing this decision ad taking into account the other issues going on in the back ground. I picked up that your Trustee suggested a support group for the issues you are having. I know this may not seem ideal but in a way you are making use of a support group on the forum and I don't see it being any different to seeking one out for your specific issues.

If you did decide to allow the sale of your property, would you receive any equity back from this which would allow you to start again and purchase a new property? Also, if you did decide to allow the sale, I imagine your Trustee would allow you sufficient time to find alternative accommodation.

David

Thanks once again for your help.

My trustee is not UNABLE to extend my trust deed but UNWILLING.

Was just calculating the figures involved and if they permitted the extension then everything would be fine.

I will be seeking help for addiction and will try if possible to keep my home and my job.

This will mean having to take risks which would not be necessary if only my Trustee would agree to the extension.

I think that they are being unreasonable