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Topic starter
11/04/2013 6:04 pm
Hi,
My husband and I both have separate trust deeds that started in may and aug 2012. I have just received a ppi settlement of £1500 and my husband is waiting on a settlement of approx £3100.
I emailed our trustee to inform them thinking they may take a percentage of the settlement figured only for them to reply saying they are entitled to the full amount from us both.
Having just moved house in jan and our car breaking to the cost of around £600, a new washing machine at £200 and making our new house habitable, we have had to use my settlement to cover these costs.
Can anyone tell me what they will/can do, I'm so worried and annoyed that they can take the full lot. If I had known that was going to be the case I would have waited til our trust deeds had finished before trying to make a claim if I had known we wouldn't have seen a penny.
Also (after reading some posts on here) I didn't realise you could submit receipts for unexpected costs for car repairs etc to suspend TD payments, is this right?
To top it off I was due to go on maternity leave when my TD started and the agreement was that I would pay £85 a month for my 9months maternity leave and then the payments would go up to £285 for the remaining period, however for childcare problems I have had to extend my maternity leave by around 8wks of which I will not be paid for, will I still need to make the higher payment?
Any help would be appreciated.
11/04/2013 7:14 pm
Hello Mrs M and welcome.
When you signed the trust deed you agreed to pay over windfalls and lump sums such as these. This is part of the basis upon which your creditors agreed to the trust deeds becoming protected.
At some point prior to your discharge your trustee would have looked to initiate these claims to help repay more of what is owed to your creditors. Even if they didn't, you may find it impossible to recover PPI payments after discharge from a trust deed.
Unexpected costs can cause problems. When this happens speaking to your trustee may result in a temporary suspension of payments, but they'll typically need to be made up by an extension to the trust deed later.
I doubt that you'll be asked to make an increased payment for the extra period of maternity leave, but the reduced payment that results from this may also have to be made up at the end of the expected period.
In terms of the PPI money spent, it wasn't really yours (it vested in your trustee) and they'll feel obligated to recover it. Hopefully you'll be able to arrange an extension with them to allow for this to happen if the money is already spent. I doubt that there will be more serious consequences so long as you can demonstrate the will to pay the money over somehow.
Sorry that I cannot provide a more positive response.
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