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Monthly expenses

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(@tinkerbellxx)
New Member
Joined: 7 years ago
Posts: 3
Topic starter  

Hi all, I am going to be paying a friend money each week for storage of my furniture and some belongings in cash. I was going to just write this out and get her to sign it to show that this is an expense but 1. Will this be sufficient? 2. Will they check this out on her end? I ask because this is not something she plans to declare that she receives and doesn’t want to sign if it could get her in trouble so if that’s the case what do I do? (I don’t want to get her in trouble and I know she doesn’t want to declare as she too is trying to get herself out of debt so every little helps)

Thanks in advance.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi Tinkerbellxx.

You'll need to check with your trustee what evidence they'll need for an expense. If you have a reasonable need for the storage space, and the cost is reasonable, I doubt it will be a problem.

For obvious reasons, we can't tell you that someone who fails to declare an income isn't exposing themselves to trouble. It seems unlikely that any trouble would result directly from what you're proposing though.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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David Tannock
(@david-tannock)
Famed Member
Joined: 12 years ago
Posts: 2581
 

Hi Tinkerbellxx and welcome,

How much are you going to be paying your friend to look after your belongings?

As TDA has advised as long as the costs are reasonable and justified then I can’t see any issues with it. If for example you are paying your friend £100+ per month to store your belongings but it would cost you £20-£30 per month to use a storage facility then there could be an issue.

From my side of things I wouldn’t be investigating your friend in terms of what she declared etc. as income so I can’t see there being an issue for her.

If you know your friend is struggling with debts herself then it might be a good idea for you to speak with her about the help that is available to her. You could send her a link for the forum and she can browse it and ask some anonymous questions until she feels comfortable to reach out for some advice from an expert.

David is not currently posting in the Trust-Deed.co.uk forum


   
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