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Scottish Trust Deed Forum
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Topic starter
22/06/2017 4:29 pm
Hi
Can someone give advice on the following scenario -
I have a trust deed amount for 576 per . month my situation has changed in which i will no longer be living with my current partner and therefore will have higher outgoings etc. Will my payments be reduced or will i have to pay the same? If they are reduced will my duration to pay it off be increased?
Thanks
Nikki Ferguson
22/06/2017 4:59 pm
Hi Nikki,
Your trust deed payment is based upon affordability. If your household bills have changed then your payment should be adjusted accordingly.
You'll need to speak with your trustee to establish whether such a change might result in an extension to your trust deed.
They need to balance the interests of your creditors, who agreed to the trust deed becoming protected based upon a prediction about how much they would eventually receive from you. Equally, they may also see fit to exercise a degree of discretion in respect of this unforeseen change.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
