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Scottish Trust Deed Forum
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Topic starter
03/09/2012 5:20 pm
Can I ask... What are the circumstances in which a trust deed payment could be increased? Is it only if I get a wage rise or come into money? My concern is that when they come to do my review they will say - oh your food allowance is too high, or another allowance is too high.. It was my trust deed firm and myself who came to the figures before we signed the trust deed. It's just quite stressful doing things like food shopping, or buying my toddler a pair of shoes... I always wonder if I'm allowed to spend the money!
Hope this makes sense :-/
Topic starter
03/09/2012 5:21 pm
Oh, can I just add, the allowance I have isn't much! Does any1 know what sort of food/clothing allowance is acceptable for a family of 4?
03/09/2012 5:29 pm
Hi Nemo1.
In the general run of things, and with current price inflation, there is no reason for allowances to be reduced.
What are the allowances that you currently have for food and for clothing? Is your family unit two adults and two children?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
03/09/2012 6:33 pm
I can't remember off the top of my head.. But myself and my husbands trust deed payments amount to £305 per month. We have an income of £2,100 per month. Mortgage is £426 per month. Council tax £125 a month. All the usual bills on top of this - life insurance policies, tv license, car road tax/insurance, school dinners, nursery fees, gas and electricity bills..
After all bills we are left with around £140 a week for food, clothing and entertainment and phone bills. Does that sound ok?
Topic starter
03/09/2012 6:36 pm
Oh, yes it's 2 adults 2 kids
03/09/2012 8:23 pm
Hi Nemo1.
It's difficult to say when other miscellaneous costs might be involved, but I will try to give you some feedback tomorrow (my list of expenditure allowance ranges is in the office... and thankfully at 8:23pm I am not!).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
03/09/2012 8:38 pm
Ha!! I'm glad to hear it! Thank you for replying when you're not even at work. Your advice on here is brilliant and this forum had been so much help 🙂
Topic starter
04/09/2012 4:46 pm
Hi TDA did you manage to get any info on TD expenditure allowances?
04/09/2012 5:04 pm
Sorry Nemo1, it slipped my mind. Thank you for the reminder.
£140 per week is equivalent to £606 per calendar month. That total does seem to fit into the usual ranges for the three categories of housekeeping, phone and clothing (added together) for a family of four.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
04/09/2012 5:19 pm
That's great. So you don't think at the review they will bring the budget down? We are managing really well and even trying to save some each week. Are you allowed to save actually?? This never crossed my mind!
04/09/2012 5:27 pm
There's no issue with setting a little aside from the allowances each month for things like these. In fact some things, like buying clothes for example, will inevitably cost more one month and less the next. Saving is therefore very sensible when it's possible.
It could be different if the saving was funded by a reduction in a bill such as gas/electricity, or your mortgage for example.
If the budget was acceptable before, and nothing major has changed, I cannot see why the budget would or should be reduced.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
