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Scottish Trust Deed Forum
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Topic starter
23/03/2013 12:48 pm
When I originally signed my trust deed I was earning 12k, and paying £230/month.
Due to the breakup of my marriage, I went back to work full time and now earn 15k. I have had my status report and as a result I have now to pay £471/month! They say that I earn an extra £480 month (including working tax/child benefit). Do they not take into consideration that I have had increases in utility bill such as rent and electric? I have two children under 3. I calculated tht if I pay £471/month I will be left with £60/week after all my bills are covered. How am I supposed to keep 2 small children on tht???? How can they justify this? Could someone please help!
23/03/2013 12:58 pm
Have you had a chance to increase you expediture? The review is a 2 way street and while you may be earning more prices of everything are up.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
23/03/2013 1:30 pm
Hi joanf,welcome to the forum,yes this seems to be a problem,Iam in the same boat myself,Same as you when I signed up my payments were £300 per mth,dropped £8.5k from last job and they say we can afford an extra £200 per mth,Iam waiting for a reply from my TD,but you have to try to come to a compromise,and was your TD joint or with you,
Topic starter
23/03/2013 1:41 pm
Maybe a slight increase in expenditure but only about £70/month.
TD is mine.
Would my TD consider lowering the new payment?
23/03/2013 2:06 pm
The payment should be based on affordability so can go up but can also reduce if needed (although this would usually mean extending the number of payments to ensure creditors get back at least what they expected).
Keeping communication lines open with your case managers is crucial throughout.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
23/03/2013 2:12 pm
Maybe a slight increase in expenditure but only about £70/month.
TD is mine.
Would my TD consider lowering the new payment?
23/03/2013 2:30 pm
Maybe on your increase,but I wouldnt be too sure,if they do you may find they will increase your term,come your next assessment make sure you cover all your outgoings including the unexpected,sorry I cant be of more help.
23/03/2013 5:23 pm
Hi joanf.
The payment should be based on affordability; total income minus reasonable expenditure.
A significant increase in income is therefore likely to increase your payment, though you should ensure that your trust deed provider has also factored in any reasonable increases in expenditure as well.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
23/03/2013 5:54 pm
Hi
My salary increased by £195 month going back full time and my working tax by £20 week but this is going to reduce again in april due to the new tax year. My outgoings have changed due to running a household by myself. I hope tht the new monthly payment can be reduced as if I need money for an emergency (car breakdown etc) I wont have it, I feel as if they havent considered these factors!
23/03/2013 6:06 pm
Hi joanf.
I think you need to push your trustee on this until:
1. You understand their decision or/
2. They amend their decision.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
