Hi Betty

Hopefully I am picking things up correctly, do you mean that there will be a change in circumstances, but this won't affect the amount of the Trust Deed payment which you would pay as normal.

If this is the case, I can see no problem.

Mark

Hi mark ,,, yes thats right i was just worried for example if i was paying something in the uk and i cancelled it , But then that money went to pay my husbands flights back and forth from italy and uk ,that the trustdeed would object , as long as the money i pay to the trustdeed stays the same it will be ok

Hi betty,

So long as you can continue with the trust deed payment there should not be any issue for you.

It's well understood by trust deed operators (and creditors) that for many people their circumstances will change during the course of the three year period.

As the others say, it shouldn't be a problem - but it'd probably be wise to let your trustee know in advance about the changes, Betty.

thanks guys for the feed back will do,,,,, keep up the great work that you all do

Hi guys please can you answer this question i have also regarding our car ...we have a car valued at £2000 at least,,, my question is if and when we go away will the car be given and sold and the money given to the trustdeed .. i was hopeing that we could sell the car and the money help to the flights and rent for the first month in italy ... with this being the only way i could see us going as we can not find the money otherwise thanks

Hi betty,

Was there any agreement with your Trustee regarding the car (and how it would be taken into account - if it was to be taken into account at all) at the outset of the trust deed?

Hi TDA thanks for quick responce ,at the start of the trustdeed we were told that the car was for work purposes for my husband and that we were told that we could keep it.But the question is now that if we move the car he will not need as he will be flying to uk once a month

Hi betty,

I'd be a littled concerned that your trust deed provider would deem the proceeds of such a sale to be a "windfall" of sorts and expect the money generated to be paid into the trust deed. Perhaps one of our experts can confirm the position on this...

Hi Betty

You need to speak to your Trustee and see what their thoughts on this matter are. You should explain that you need the money for the flights, however your Trustee may well expect this money to be paid to your Trust Deed.

An alternative is that your Trustee may allow you to keep the money and extend the Trust Deed period.

Please let us know how you get on.

Julie

Hi betty here i was reading a post just a minute ago, regarding bank accounts. I have just looked at mine and one off my debts were with the royal bank of scotland and to my surprise,sock horror i am with natwest and they are partners... I have been with them for 6 months now ...qustion 1) is
how would they know i was in a trusteed do they do checks on me even if i dont ask for any money ect 2) should i move banks or will they catch me eventually if i stay 3) or should i go to barcleys bank as they seem to let people with TD open acccounts with no problem ,,

Hi betty.

According to the "This is Money" website (which has a really good list of which banks are associated with each other) Natwest and RBS operate under separate banking licences. Assuming this is the case, and to my knowledge, the banks would have no right of "set-off" in these circumstances. I'm sure our experts will correct me quickly if this isn't the case.

Hopefully this will turn out to be an non-issue in terms of your trust deed being disrupted by a bank taking your income under rights of set-off (which I think your trust deed company would be able to recover for you in time anyway).

The second issue is whether Natwest would close your account if they discovered that you were in a trust deed. This comes down to which exact account you have and their criteria for that account. If you let us know the type of account you have hopefully another member/visitor will be able to share their experience.

Will they discover that you're in a trust deed? The information is publicly available but they'd have to go looking for it. This might happen I suppose if you made an application for credit. Obviously another part of the RBS Group is aware of the trust deed as well though I'm not sure how data protection principles would apply in this instance.

Hi TDA its a current plus account

Hi betty.

I'm not sure of the acceptance criteria for that account, though someone else may have some information to add.

If it comes with a chequebook and/or overdraft facility I'd suggest you'd be unlikely to be able to keep the account if Natwest became aware of your trust deed.