Hi folks! Not posted for a long time but after some advice. I entered into a trust deed 1.5 years ago. A couple of months ago, I moved my son to another nursery. What I didn't realise is I'd signed a document stating I had to give 4 weeks notice or pay 4 weeks worth of payments. I'm being chased for ยฃ676 with the threat of legal action. Not quite sure what to do!!
Hello Nemo1.
That's an easy type of mistake to make.
As you may already be well aware, because the debt originates from after the date that your trust deed was signed it cannot be included in it.
You may well find that the nursery is prepared to enter into some type of payment arrangement with you, not least if you're prepared to disclose your current financial position to them.
Disclosing your current financial position might also make legal action less likely.
You also might want to consider asking your trustee whether they'd be prepared to assist you with a payment break or temporary reduction in your payments to help. This would be likely to result in an extension to your trust deed to catch up later though.
Thanks TDA,
I spoke to my relationship manager at Wilson Andrews a few weeks ago and they said they couldn't help as this would be seen as favoring one creditor over another.. Confusing though as the nursery isn't included in the trust deed! They won't accept a payment scheme, tried that today. If it goes to a solicitor will my wages be arrested? This is what has been threatened in the letter
No he didn't start nursery until after I signed the TD
HI Nemo1,
It's a tricky one for your Trustee as they need to consider the creditors under the Trust Deed. If they allowed you to miss payments on your Trust Deed to pay back a debt out with it in full this can be favouring one creditor over the rest. It really comes down to each individual Trustee and is at their discretion.
I think if a solicitor became involved and you explained your circumstances along with confirmation of your Trust Deed them would be more understanding and perhaps come to a payment arrangement as they would realise your financially struggling. This could just be a standard sentence/paragraph that the nursery put into their letters to scare and worry people into paying them.
For your wages to be arrested legal action would need to be taken by the nursery/solicitor. This isn't something that can happen without your knowledge and the solicitor/nursery need to be aware of your employer details to implement the arrestment.
David is not currently posting in the Trust-Deed.co.uk forum
Hi Nemo1
I am sorry you are still struggling with the outstanding nursery fees.
I believe you spoke to Kimberly in March and she was able to agree reduced Trust Deed contributions, we can help by further extending this arrangement for you.
I have asked Kimberley to get in touch to discuss what we can do to help.
Thank you
Sarah
Sarah รรรด A member of the team at Wilson Andrews.
Hi Sarah,
Yes I misunderstood Kimberley to begin with, I thought I was only able to reduce one TD payment but she called to today and I'm allowed to make more than one reduced contribution. I think I was in a panic when I first spoke to her and not listening properly! Thank you very much for sorting this out it's a load off my mind and much appreciated.
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Glad it's worked out nemo1.
Sometimes the forum can only offer guidance on things, but the final decision will always lie with the Trustee.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Hi Nemo1,
Hopefully this flexibility by your Trustee will help you deal with the nursery bill without worrying over it too much.
I'm pleased it's worked out for you.
David is not currently posting in the Trust-Deed.co.uk forum
No problem Nemo1, I am pleased we have been able to help.
Don't hesitate to get in touch if you need anything further.
Thank you
Sarah
Sarah รรรด A member of the team at Wilson Andrews.