My sister is a Trust Deed case Manager (I dont like to ask her too many questions!) however she does keep mentioning that the set direct debit contribution i.e. £200 is never always set in stone for the duration of the TD and if i'm not careful I could end up "owing money" to my trust deed? When would this ever be the case?

Off the record, are there any trust deed experts on this forum that I could Informally email my expenditure sheet to for an unbiased opinion?

Hi Paisley1

I'm sure we could all have a look at it for you, no problem.

Mark

Hi Paisley1

Your sister is correct, a trust deed payment can increase during a trust deed due to pay rises and increase in other income. You will also be expected to pay over a % of any overtime or bonuses you receive during the trust deed.

If you come in any money from inheritence, PPI reclaim, redundancy, compensation or a lottery win for example, you will also be required to pay this over for the benefit of creditors.

Although your trust deed will estimate a % return for the creditors, they could end up getting more.

Thanks Mark, I've added my expenditure below that I plan to go ahead with on Tuesday at my Initial Trust Deed Meeting. Because I only get my little girl 3 nights per week I havent added any extra allowances apart from the £100pm;

Rent £390.00
Council Tax £96.00
Gas/Electric £55.00
Diesel £130.00
Child Care £100.00 (food, clothes, entertainment etc. for 5yr old)
Child Maintenance £200.00
Clothing and Footwear £25.00
Contingency £11.00
Food, Housekeeping & toiletries £195.00
Hair Dressing £10.00
Laundry £10.00
Meals at Work £35.00
Mobile Phone £40.00
Medical (contact lenses, glasses & dental) £25.00
Newspapers/Magazines £5.00
Property Maintenance £15.00
Sports and Hobbies £10.00
TV Licence £13.00
Tobacco £50.00
Internet/Satellite TV/Phone £45.00
Cat Food/Litter etc £20.00

The above figures leave me with a monthly surplus of £200 to the exact penny of which I can contribute to my PTD

Car insurance and road tax? Vehicle maintenance and MOT?

Paul

Have you considered Car insurance, Car tax, Car MOT and servicing?

An amount should be included if you have a car?

Great Minds plasticdaft 🙂

Hahha are you my long lost twin???

I've got a company car but have to pay my own fuel, can't claim it back

I take is servcing etc is all covered then,whew,though the budget wasx flawed. Looks ok to me.

When you giving up the oily rags?

Paul

Yeah everything apart from the fuel. Oh on and off with the fags! Up and down like a bloody yo-yo!

Will a trust deed affect my company credit card? The statements etc get sent to my work all that's on the card is my name and employer name? There's a £2000 limit on it? It's a business account and nearly everyone has a card?

Thing is my company credit card is with the Bank of Scotland and there quite a big debtor of mines at present!

The company credit card wont be an issue just make them aware of its existence during the meeting.

Its not a personal card so bank of scotland wont mind you having it.

Paul

Great thanks plasticdaft. Christ is seems like this topic is never ending! But it's all new to me and the thought of other people on the forum that were once in my shoes makes questions just randomly fire out!

Hi Paisley1

There's nothing there which looks unreasonable. Looks fine to me.

Mark