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Scottish Trust Deed Forum
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Topic starter
02/06/2012 3:10 pm
Hi there, since I signed my trust deed my ex wife has been made to pay for one of the loans we had. With her paying that, it reduces the debt I am making through my trust deed. My total debt was £46k, but £30k of that was the loan that my ex wife is now paying taking my debt down to £16k.
I have been paying £250 pm since I Oct 2010 and my trustee has never asked me for bank statements etc. I filled in a expenditure for after the 1st year and it showed that I had more disposable income but they never increased my payments. I have now had a £8k raise and plan to move in with my partner which will give me a massive increase to my disposable income. Would they increase my payment to £1500.00 per month as that is what I would be able to afford ??
02/06/2012 4:08 pm
I'm no expert but I think they would.
02/06/2012 5:53 pm
Hi deid.
Your payment should be your disposable income so it does sound like a substantial increase may be in order.
Was it a joint loan with your ex-wife? If so it will still be in your trust deed even though she is repaying it.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
02/06/2012 6:37 pm
It is a joint loan.
03/06/2012 4:51 pm
Joint debts should have been explained by your trustee as tda says it gets included and has to continue to be paid.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
03/06/2012 5:06 pm
I was aware that it has to be paid and will be paid in full by my ex wife. I just thought after I disclosed my expenditure last year I was never asked to increase my monthly payment even though it clearly showed I had a bigger disposable inclome than the previous year. And that is going to change even more so in the next few months !!
03/06/2012 8:01 pm
Just make sure your trustee is aware of all changes as soon as possible deid so that it doesn't cause a problem later.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
03/06/2012 11:02 pm
All you can do is be up front and hope that your trustee is as accommodating as the last time.
Of course, any funds that go to the joint creditor will reduce the amountt that your ex wife has to ultimately repay
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
