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Scottish Trust Deed Forum
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Topic starter
20/01/2020 12:07 pm
Morning,
I am 1 year into my TD and I have recently completed and sent back my income and expenditure form. On Saturday I received an email advising my contribution payments will not be changing. However I then received another email advising a calculation had been done of my additional income and that I should phone to be made aware of the payment options. To make you aware, I work in a job where each month can have different bonuses and I do now earn more each month than when my TD was started, but I have added this increase in monthly earnings onto my income/expenditure form working it out as an average! At the time I started my TD I was not in a very good place or frame of mind and I honestly cannot remember reading anything about additional income to pay back. I am now in a state of panic as I do not have the money to pay this back 🙁
20/01/2020 12:58 pm
Welcome to the forum NSJ33L.
It is the case that your full disposable income has to be paid into a trust deed. Usually a contribution would be worked out based upon your reliable level of income, and extra payments would be made in the event that you received additional payments (like a bonus, commission, or overtime).
If you've had extra income over the past year (without an equivalent increase in your bills) then it's likely that an extra contribution into your trust deed has become due.
Please don't panic at this stage. The most likely scenario, if the funds aren't available to catch up now, is that your trust deed payments get extended at the end of the term to gather in this money. This scenario has arisen here in the forum a number of times in the past. An extension is a common solution that's fair and workable for everyone involved.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
21/01/2020 9:38 am
NSJ33L
Just to reiterate TDA - do not panic at this stage and contact your trustee's office.
In assessing your level of disposable income, bonuses and overtime needs to be taken into account.
Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
21/01/2020 9:57 am
Hi NSJ33L. If you have averaged out your wage including the extra income and they have advised that your contribution will stay the same based on that then I presume your outgoings must have increased too? If so, then it may just be a case of making this clear to them and hopefully there may not be any extra contributions to make after all. Communication is key and I would urge you to speak to your case manager before you start panicking.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
21/01/2020 4:01 pm
Thank you all so much for the replies. I will contact them and update you all.
21/01/2020 10:27 pm
Please do let us know how you get on NSJ33L.
I’m very hopeful this will not turn out to be as big a problem as you feared.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
22/01/2020 10:55 am
Communication is always the key thing and it's something I advise all my clients about when first starting out on a plan with us.
Never be scared to pick up the phone to your Trustee or send an email if you are unsure or just need some clarification on things. We are here to help as much as we can and we know it's a difficult period and some things might not make sense.
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