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Topic starter
06/02/2012 8:18 pm
I've just had my 6 monthly review done. I'm 1 year into my Trust Deed and I have a new Trustee from the one that set up the Trust Deed for me.
I've just received a letter stating that my monthly repayments are to go up £50 a month and my husband has had the same.
Since starting the trust deed. My monthly income hasn't increase and my husbands has decreased by £100 a month yet we are still being asked for £100 more a month in total. Is this common practice? Why are the repayments being increased when we're earning less as a couple?
Confused.
06/02/2012 8:27 pm
Hi pickle88
I don't have an answer for this but I'm also worried about my review when it come around. I've heard more people saying their payments have increased when their income has remained the same, the fact your husbands has gone down is even more confusing.
I think some trustees seem to be setting payments low at the start knowing we have no alternative but to pay up when they increase them at reviews. Have you asked your trustee to explain the increase to you? I'm sure they would have to explain this.
06/02/2012 9:07 pm
Hi pickle88
It is certainly strange. I think you should write and seek an explanation.
It would be difficult to justify this in the circumstances you describe.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
07/02/2012 10:06 am
Welcome to the trust deed forum pickle88.
Have their been any reductions in your expenditure over the past year?
For example, has the amount that you pay for your mortgage or rent gone down?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/02/2012 10:21 am
What did your income/expenditure show as being available when you completed your review form pickle88?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
07/02/2012 2:27 pm
Hi Pickle88,
If you don't mind me asking, who is your td with?
I'm also due a 6 month review just shortly I think and am also worried they'll change things.
SkintAlly
07/02/2012 8:47 pm
We found that normally any tiny wage increases were far outweighed by the cost of living increases.
Ask your trustee to justify the increase.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
08/02/2012 10:29 am
If anything, your monthly bills (gas/eclectric, phone etc) would have gone up, as would car expenses like petrol and road tax etc
hard to justify an increase in these circumstances...
