Hi tartwithacart and welcome.

I suppose they just possibly might help out by allowing you to miss a trust deed payment or two to pay off this payday loan. Missed payments would typically result in an extension of your trust deed.

More likely I think is that they'll suggest you make a payment arrangement with the payday lender, perhaps £1 per month for example, with a view to substantially increasing that when your trust deed has finished.

Trust deed assistant is right, if you explain the situation to your trustee/case manager then I would expect that they would be open to being flexible.

I agree you would be advised to come to an agreement with both parties to pay both with out jeopardising the TD, or preferencing the loan over the general body of creditors.

Hi tartwithacart,

As others have said there needs to be a little flexibility within your Trust Deed when it comes to problems like this and that's sometimes where different firms can vary in their approach. Some will be a little more flexible than others.

Payday loans can be difficult to deal with one you have missed a payment or fallen behind. The best thing to do is speak with your relationship manager/Trustee about the situation and see if they can be of any assistance.

If you experience any problems whilst in your Trust Deed i.e. an unexpected bill, a higher MOT bill that has been budgeted for etc then it can be possible to reduce/miss 1 or two payments to cover this. As TDA has advised this can result in the extension of your Trust Deed to ingather the payment.

Don't be worried about giving your relationship manager/Trustee as a call as they should be there to help where possible.