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12/08/2011 9:23 am
Hi
I've just been given the option of some overtime in work over the next few months. It will probably equate to an extra couple hundred pound in my monthly wage each month. Will any of this have to go to my trust deed?
Thanks
12/08/2011 9:40 am
Most, if not all of it will probably go to the TD mate.
Anything over and above what you need to live goes towards the deed.
12/08/2011 10:03 am
You will be allowed to keep a proportion of it, as if your Trustee asks for the full amount then there is no incentive for you to work overtime....
Why would you work an extra few hours a week but get no benefit from it, so why work it...... Therefore your be allowed to keep a proportion maybe 50% and you give the rest to your Trustee, 50% to your trustee is better than nothing......
12/08/2011 10:18 am
Whatever you do, tell your trustee right away.
The more you co-operate i found, the more flexible and receptive they are with you.
12/08/2011 10:23 am
Hi ronald1864.
Three slightly differing answers from tinsoldier, Porcupine and ScotsLad there... which is because this is an area in which your Trustee has discretion and therefore experience will vary.
The exception is where (as commonly happens) this is pre-agreed in advance of the start of the trust deed. We suggest people do this before signing a trust deed (applies to bonus payments as well) so that they know where they stand.
You'll want to contact your Trustee in advance and be advised by them how this additional income will be treated. You'll then be able to weigh up whether it's worthwhile for you to take it on.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
12/08/2011 10:30 am
Very true - I think we all have different arrangements with out TD provider.
