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Scottish Trust Deed Forum
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Topic starter
20/10/2013 11:40 am
Hi
After being made redundant in July my insurance cover has just kicked in. This gives me 75% of salary. My question is, will my trustee require the payment as this is supposed to cover mortgage and building insurance payments? The insurance has only just started as I'm at the end of notice period, of which I had to pay all payment in lieu of notice and all holiday pay over to the trustee.
Thanks.
Domino
20/10/2013 1:42 pm
Hi Domino99.
I think they'll just see it as income, like a salary.
If you have a surplus after your expenses are paid, including your mortgage, they may want a contribution.
I suggest you run it by your trustee.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
20/10/2013 10:24 pm
Hi Domino99. As trust deed assistant says, it would be treated like income. If this is 25% less than your previous wager then your contribution payments would need to be reduced/suspended.
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