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Scottish Trust Deed Forum
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Topic starter
12/02/2016 3:10 pm
Hi
My work is undergoing pay restructuring and looks like my wages are going to dr#8203;op by around £2500 a year but are going to compensated for terms and conditions changing. Issues is 38 months into 4 year trust deed. Compensation is going to be paid in a lump sum. Lump sum is only to compensate wages for next 2 years. This will be 5k will my trustee request this money for trust deed or will i be able to keep this money as wages dr#8203;opping next 2 years. Trust deed ends this November. If i am allowed to keep this can i pay remaining balance to get discharged.
Thanks
12/02/2016 7:21 pm
Hi the louden.
This is one of those questions where you'd be wise to ask your own trustee. There isn't a clear right or wrong answer.
My guess is that they will want to collect in the lump sum. I'd imagine your monthly payment would then need to be readjusted downwards because of the salary decrease until you're finished.
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15/02/2016 8:18 pm
I would echo Trust Deed Assistant's thoughts on the likely response from your trustee, louden
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