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Scottish Trust Deed Forum
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Topic starter
16/06/2011 4:47 pm
I know i've asked this before, but my contributions were lowered as i was placed on a four day week and at the same time my living expenses rose. I contacted the TD company who said there would be NO extension as i proved that the lower contribution was all i could affored (wage slips, bank statements etc).
But all i seem to hear is that i won't cover the agree amount - can someone put my mind at rest? I phoned TD company again today and they confirmed that i should cancel my SO on 1st July.....
16/06/2011 5:26 pm
Have you asked your TD for this in writing, that way your mind would be at rest
16/06/2011 5:54 pm
My trust deed have told me this morning that if they reduce my payments they will not extend the trust deed at all but like you im wondering if that's right enough, but what they said to me is that it is circumstances out with my control for change in income etc they would not extend the period but also by same token if I suddenly had an increase in income they would expect the payments to rise which is fair enough, hope what you have been told turns out to be right enough, and congrats on almost completing
16/06/2011 6:17 pm
Hello TinSoldier and welcome back to the forum.
When your trust deed company agreed to lower your contribution with no extention did they confirm this in writing to you?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
16/06/2011 8:00 pm
I have emails confirming that i had 3 months of arrears, which i have now paid off, then that would be me finished
16/06/2011 8:45 pm
It does sound like you have succesfully completed your Trust deed, did the company say when they would be sending completion documents to you?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
17/06/2011 8:42 am
Hi
The advisor i spoke to said i had to cancel my SO, and it could take up to 8 weeks for everything to complete. Also advised i would receive a letter of confirmation and discharge.
I take it this is really irregular?!
17/06/2011 9:09 am
Not necessarily tinsoldier, and it does sound like this is all coming to an end for you now so I really wouldn't worry about it too much. Hopefully everything will work through the system exactly as expected now.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
17/06/2011 9:32 am
Can't help worrying though as i'm sure you can appreciate, i can see the finishing line so to speak!
17/06/2011 9:58 am
All the signs are very good though?
I do appreciate you must be nervous, but it all really does sound OK from the information you have provided.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
17/06/2011 10:13 am
The signs are good you are right.
I'm just wondering how this is all coming to a close without an extension based on the reduced contribution, for example have you or any of the experts on the forum heard of this happening before?
17/06/2011 10:16 am
In some circumstances there seems to be a difference between:
A - Circumstances changing because of a decision made by the person in a trust deed. For example someone chooses to take on extra expenses or give up a second job.
and...
B - Circumstances changing for reasons that are out of your control. For example a cut in wages when having to move to a new job following redundancy.
Perhaps one of our experts could provide their thoughts on this...
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
