In short, yes paulc.

If you become able to afford it you might have to pay some interest on the debts and the trust deed fees and costs as well.

Can you pay back more than you owed from the original monthly payments and time period, may sound silly but I am paying back 99% of my debts on the original repayments over the 5 years as agreed at the start.

And I received a letter today from one of the banks taking a ppi refund of one of the accounts so I would now be paying back more.

Hi paulc.

Has your contribution to the trust deed increased since you started it? I'm curious whether you also considered the debt arrangement scheme rather than a trust deed?

The source of your payments (monthly from income, windfall, realisation of assets etc) doesn't really make any difference. If it so happens that you're in a position to pay it you'll be responsible for paying:

1 - The original debt total.
2 - Some interest on the debts.
3 - The fees and costs associated with the trust deed.

I was on a debt management scheme for 6 months and they reffered me to my now trustee(no missed payments or any problems) when I spoke to my trustee it was always over the phone and they took my income and expenditure from the debt management company, I have recieved my latest statement from them and after reading some post starting to query things more so sorry for all the questions, the original debt was 22k and after going onto the trust deed from debt management my monthly payment went up by £20, the trust deed is me and my partner and on the annual statement for me the debt was 19k and my partner 21k is this normal?( to me it reads as 40k between us),the reason I was advised to go on a trust deed was because after the set amount of years it would be finished, my trust deed was arranged at the start to be 5 years paying back from myself and my partner 345 per month.feeling maybe I shouldnt have been as quick to sign and should have asked more questions and researched it more,feel like I have been taken for a ride a bit and shouldnt have been put on a trust deed

Hi Paulc

It's difficult to comment without sight of paperwork, however I am guessing there may be joint debts which will show as the full amount on both statements. It doesn't mean you pay it twice, but just that you are both jointly liable for the debt. The time period would be based on the amount required to achieve the minimun dividend which creditors will accept.

Hope this helps.

Mark

Yes it was joint debts but dont understand why the figures are different? After working out the payments we are actually paying back more than the original debt now as we got a ppi refund on one of the acccounts

Hi paulc

The PPI is completely separate from the payments. If there is enough money following receipt of the PPI to pay the debts in full plus interest and the costs of the Trustee, then it can be brought to a close.

If there is not enough to close, then the Trustee will continue to seek payments.

Joint debts are shown in full on each statement of affairs and can look strange as the full amount is shown for both. The creditors should be listed as all debts you owe on yours and all debts your partner owes on hers. These are completely separate documents.

Mark

Thank you for clearing that up I am trying to find my original paper work to check it but cannot find it at all, is it possible to ask or obtain another copy from my trustee?

You an certainly ask them paulc.

It doesn't seem like too much to ask.