Hi inthered,

About a month or so ago, the exact same thing happened to myself and my partner with our TD. We were paying just over ?ú300 a month and the payments went up to ?ú600 so have almost doubled. I've ended up in arrears of ?ú1700 and my TD has also been extended an extra 6 months to cover the arrears. If you read some of my posts, the answers to them may shed some light on your situation. What I discovered is that yes, you can end up paying back more than originally owed. Originally I was paying ?ú570 a month to around ?ú24,000 worth of debt that would have been cleared within around 3 and a half years time. I think by the end of the TD if my payments increase by any more then I will have ended up paying back almost all, if not the full amount of what I originally owed.

Hope this helps!

Thanks dm29
I have had a read over your older posts and this makes a bit more sense, I think having a one 2 one meeting is on the cards. Still wary regards my new and future payments as I progress with my job my costs go up but there seems no way of factoring this into the td.

Thanks for you help!

Yes, I think you should defo have a face to face meeting. We did and a review is currently being done on our case. I just hope everything goes ok with it!!

Gald to be of assisistance and I hope everything works out ok for you!

Hello inthered and welcome to the trust deed forum.

Could you confirm that your protected trust deed has been extended for an extra 36 months?

What was the original term at the start of the trust deed?

Was your trust deed company aware of the pay rise at the time that you started to receive it?

It would be normal for a monthly trust deed payment to be increased if circumstances improve, for example via a pay rise connected to a promotion.

I appreciate that this might seem frustrating at the current time, but it is the basis to which your creditors will have agreed to the trust deed at the outset. Of course the longer-term benefit for you will be there once it is completed.

It's not normal for a trust deed term to be extended because your circumstances have improved and I'm really struggling to understand why this would be the case. Hopefully this will turn out to be a misunderstanding and dm29's suggestion of organising a face to face meeting is a really good one to get to the bottom of this.

The most that you might have to pay back in total is the original debt total, some interest, and the fees of your trust deed provider. This outcome is quite unusual but might sometimes result from someone coming into money or assets during their trust deed (via an inheritance for example).

Thank you to dm29 for sharing their experience in this area on this thread.

Hi TDA
May have worded this incorrectly. Original Trust Deed was 36 months. After making payments for 10 months we received a letter which contained my increase in payments and notification that the trust deed had been extended by 10 months, which in total will mean 46 months overall. They stated this was due to an underpayment, due to my pay increase.

They were aware as I had received my review paperwork around the same time.

I appreciate your quick reply.

Hi inthered.

Thank you for the clarification.

Did you get the pay raise some time ago?

I think they may be saying that your trust deed payment would have increased had they been aware of the pay increase at the time, and that therefore the term is being extended to make up the shortfall that specifically relates to this delayed realisation at their end.