That's going to be a decision for your Trustee rather than your creditors Mac. I can see the logic and the sense in the case you are putting together and hope that your Trustee does as well.

Hi
Do you know of any cases where monthly payments have been accepted rather than a lump sum to try to meet the equity?
Thanks
Mac

Hi Mac.

Quite a few of the members of this site have written here about dealing with equity via some additional payments after the usual trust deed period has ended. Our experts have also written about it being an acceptable option in certain circumstances.

It normally seems to be a perfectly acceptable situation provided that it isn't going to take an excessive period of time to contribute the funds.

Well spanner in the works this morning. I received a reply from the Trustees following my request asking if they would accept the amount from the endowment in full settlement and they have said that no if the policy is now encashed my half would be added to my half of the house equity thereby increasing the amount that would have to be paid to them. I know one of the other members hinted at this previously but it was my understanding that my half of the policy was included, they have told me at no point that the policy value would be looked at at the end of the term. I'd have been as well cashing in the policy 3 years ago and giving them that. The intention always was to cash in the policy now to pay the whole lot off, my biggest worry was that there wouldn't be enough to pay it off. I don't know what to do about this, if they take the policy value I don't have the additional money that they would want even though they have said that I can pay it over 18 months - that would still be another £ 250 per month which if I had I would have been giving them already! Can anyone offer any advice on what do now?

Hi WIKIKEE.

I've read your post a couple of times over the weekend but I'm still not sure that I understand it properly.

Your original post suggests that the value of the endowment was included in the calculation of equity. Has this turned out to be incorrect?

Is this issue to do with the endowment having increased in value during the trust deed?

And I thought you were all just ignoring me! Is it possible to email one of you with some more information and specific advice, my Trustee is being a bit unhelpful over the issue - and I obviously didn't explain it very well!

Hi WIKIKEE.

If you click the "contact TDA" botton in my siganture here it will take you to a contact form on which you could provide some detail. One of my colleagues or I will review it and respond to you.

Sorry if you felt ignored!

Have started a new thread to try and summarise my current position. Thanks.