Also if by some miracle I could conjur up £1800 (based on £100 a month from now until next July) is that something that incurs extra costs or issues? I don’t have that money but with each month that passes it get closer to an amount I could ask a parent for

Welcome to the trust deed forum LC2022.

When you say that your creditors have been in touch, can I please check that you in fact mean your trustee?

Creditors are the companies that you owe money to. Your trustee is the person who is responsible for handling your trust deed.

Sorry I wrote that in a rush. Trustee companies so yes thanks

Hi LC2022. All we can advise is that you complete the income/expenditure as accurately as you can. It doesn't necessarily matter that the individual figures have changed, that is normal. What matters is how much is left over once your reasonable living costs have been met. If you can still only afford £100pm or so then you should have nothing to worry about.

If it shows that you can afford more than you have been paying then it is likely that your trustee would increase your monthly Trust Deed contribution amount. They may well also look to backdate this increase too I'm afraid, unless you can show that your circumstances have only recently changed for th ebetter.

Thank you! If they did increase it then backdate it then that would make monthly payments unaffordable again? So how would it work? I have another change now which means my partner and I are separating. Always complications so the fluctuations mean that moving forward and possible increase and backdated increase would be terrible

In terms of your second question, it may be possible to end your Trust Deed if you can find someone to pay in a lump sum as you are already past the 4-year mark. Only your Trustee will be able to tell you how much would be needed to enable that to happen.

My ex partners main worry is they will either contact the creditors who will want all the debt paid or force us bankrupt
Are these things that can happen for a trust deed that’s been paid the whole time, on time and whilst the income and expenditure was not completed annually
Some years there was no contact, others I don’t even remember seeing anything until the most recent company took over and they’ve sent this which I why I am concerned
Really appreciate all the advice

Hi LC2022.

I don't think you should be too fearful of having missed a couple of reviews if you weren't asked to complete them.

There's no suggestion that it's likely that there will be a backdated monthly payment increase. This is just being pointed out as a technical possibility if your financial situation had/has materially improved.

It's irrelevant whether your creditors want all of their debt repaid. Your trustee will simply manage the arrangement in line with the original agreement made between you and your creditors.

Your creditors also cannot make you bankrupt if you're in a protected trust deed. If something had gone really badly wrong then your trustee might feel compelled to do this, but it's very uncommon.

If you've made all of your payments, and provided information when you've been asked to, I really really don't think anything too bad is going to happen here.

Thank you that has out my mind at ease as I move into another uneasy time I appreciate everyone’s help and advice thanks

Good luck with everything LC2022.

If you have any further questions please let us know.