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Scottish Trust Deed Forum
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Topic starter
09/06/2022 5:52 pm
Hi,
I hope everyone is doing well.
My husband entered a trust deed earlier this year. Since then I have fallen sick and I’ve had to cut my hours in half at work and get a top up in benefits which leaves us about £150 short. With the increase in gas and electricity, petrol and everything else falling under the cost of living crisis we are extremely short every month. We were asked to fill out a new I&E to reflect this. It has shown we have £85 left to our name after all bills and expenses (hobbies, clothes, haircut, mortgage, petrol etc) has been paid, not including the trust deed. My health is a progressive condition so it’s not like I can go out and work the hours I’ve reduced as there’s some days I physically cannot get out of bed. I’m very worried as to what will happen to our trust deed. I would appreciate all the help and advice you can offer. Thank you!
10/06/2022 9:04 am
Hi Abi,
Clearly circumstances can change during the minimum four year term of a trust deed, so some flexibility is built into the process to work around that.
You've done the right thing by notifying your trustee of these changes and helping them to assess your current disposable income. As I'm sure you can imagine, many people will be experiencing reduced disposable income at the current time, something that trustees and creditors will both be acutely aware of.
It may well be possible to continue with your husband's trust deed, albeit with a reduced monthly payment. Keep working with the trustee and please so let us know how this works out. Others who are reading the forum probably have similar concerns at the moment.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
