Hi

I am currently in a trust deed (just passed 1 year) for about 8,700 of debt and 4,250 fees initially. I have paid 1,700 so far. With CPI increase it should be about 12,200 left.

I might be receiving a large pay increase - from 2,250 monthly to about 2,950 - due to switching jobs. This would increase my spare from about £120 which is my current payment to £700 approx. This is not including any increase in cost of living. (would reduce it to perhaps £600)

However, unfortunately, being missold the IVA based on having no assets and having a low debt - If I were forced to pay the £700 I would clear the debt in 17 months. I would also feel pretty miserable about not being able to treat myself for getting such a pay rise.

If i were to pay everything off by the end of the trust deed (should end Aug 2027) then the payments would be:

12,200 / 36 = 338. 

Is this irrelevant? Would they just make me pay more and pay it off early? Would I end up overpaying the debt and fees? 

I don't mind paying £340/month and enjoying the rest as a pay rise..