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Scottish Trust Deed Forum
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Topic starter
12/08/2013 3:25 pm
i'm due to finish my 36 month trust deed in the next month and then I have a further 10 months to pay ,as agreed at the start of my td, to pay my car finance. am I right in thinking that after paying my 36 months to my trust deed that all the conditions of the trust deed are met, and I no longer have to inform my IP of any windfalls, taking on secondary employment and overtime payments ect. I may get the chance of earlier retirement than I thought and obviously any lump sum with my pension would be regarded as a windfall.
12/08/2013 3:39 pm
Hi honestman
At month 36 your contributions are finished, however windfalls would still be an issue and would only cease once you have been discharged. The Trustee would have no interest in overtime, bonuses etc as these are contribution related.
The easiest idea maybe to increase the monthly payment for the car to reduce the time period left.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
12/08/2013 3:42 pm
thanks mark, I may think about doing that, cheers.
12/08/2013 4:59 pm
Hi honestman
It makes sense to try and increase the payment to shorten the term and hopefully when the final payment is made, the trustee will quickly dicharge the case.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
