Hi eoin8008,

As mentioned previously it's not the Trustee who determines what creditors will and will not accept. The allowances are not set at a certain level; there are ranges between which creditors will and will not consider the expenditure to be reasonable. This doesn't just apply to expenditure being too high; it can also apply to it being too low. All parties want Trust Deeds to be sustainable so it would cause a concern if, for example, housekeeping expenditure had been set too low and does not look manageable for three years.

Gas costs would be averaged over a year as for most people the costs are generally much lower in the summer. Anyone considering a Trust Deed would be well advised to move onto a set monthly payment by direct debit to make budgeting easier throughout the year.

I recognise that you are unhappy about the way your budget was set up and that you intend to take it up with the Trustee. For most people though the income and expenditure guidelines strike a balance between being able to live reasonably and creditors feeling that a debtor is doing their level best to repay what they can.

Many thanks for clearing that one up for me TDA. Could I ask your opinion on my allowance re. housekeeping (food and personal hygiene) I have been left with a budget of ?ú103 per week for a family of four. Would you consider this reasonable? As for my gas plight ( so to speak[:)])after paying agent ?ú600 fees in August 2008, (instead of our creditors) then beginning TD payments in September 2008, we were left in a position that we could not budget for winter months as they had already arrived. Should we have been advised to change our payment methods via the utilities company? Again,many thanks[:)]

I think it would be good if Trust Deed companies provided practical advice on how to make a budget work based upon the experience of their previous clients. The good ones do this already.

With regard to your housekeeping budget, it does fit within the ranges commonly used.

Thank you TDA, think we'll get to the bottom of this today! OK, I was told I had ?ú125 per week (obviously not) which was to include a budget for 10 cigarettes per day for my husband and myself (the stress)On real figure of ?ú103 per week that would take my actual weekly budget for food down to approx ?ú75 per week for a family of four. Amazing what you don't know when you do not have the benefit of figures in front of you! After paying agent a total of ?ú1350 you would think we would have been better advised than this! Clearly a warning to anyone contemplating a Trust Deed, do NOT get involved with agents, go to the real deal instead!

What was the monthly housekeeping budget eoin8008?

Hi again TDA, this is where I feel the figures become ambiguous. In the real world months consist of 28, 30 or 31 days. Therefore monthly allowance is based on ? days in a month. I have taken my TD monthly allowance of ?ú450, multiplied it by 12 months, then divided it into 52 weeks, hence the figure of ?ú103 per week. This is my REAL weekly allowance over a 1 year period. Trustee told me I had ?ú125 per week, clearly I have not! Many thanks again[:)]

Hi eoin8008

?ú1,350? Which company was it?

Mark

Hi there, agent was Moneytalk Scotland, charged me ?ú600 initially then were paid another ?ú750, via my husband, via trust deed. The reason given for payment through TD was the exact same reason given for original payment!! We have obviously (though separately)been charged for one service twice!!! Trustees were told about this-their reply-" that's the way it is" followed by minor snigger[:(] Currently preparing small claim against agent in view of double payment[:D] Hopefully raise a few eyebrows[8D]

Hi eoin8008,

Was the payment via the Scottish Trust Deed company funded by regular Trust Deed payments, or did you have to make additional payments to the Trust Deed company over and above the usual 36 months?

Hi TDA, sorry for delay in replying, the payment was funded via the TD payments, money we felt should have gone to our creditors not a double whammy for an agents one hours work:)Think I've pointed out ( but just in case I haven't for other peoples benefit) we have NO paperwork from agent, therefore no idea of our REAL disposable income, and simply put our trust into the trustees (so to speak) A rather dubious waste of money methinks, many thanks again:)

quote:

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Originally posted by eoin8008

Hi TDA, sorry for delay in replying, the payment was funded via the TD payments, money we felt should have gone to our creditors not a double whammy for an agents one hours work:)Think I've pointed out ( but just in case I haven't for other peoples benefit) we have NO paperwork from agent, therefore no idea of our REAL disposable income, and simply put our trust into the trustees (so to speak) A rather dubious waste of money methinks, many thanks again:)

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Hi eoin8008,

I'd asked in another thread but I wondered whether the concerns that you've had have been addressed as yet?