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Topic starter
20/03/2012 6:24 am
Hi, there
I have an interview tomorrow for a promoted post. One at full time and one at part time. I'm hoping to get the part time one as this would free up some of my week to spend with my daughter who has additional support needs. Although its a higher salary, my earnings will drop to around £16,000 per year but I would only be working 2.5 days per week rather than 5. If I get the full time post, my earnings will jump to around £30,000 per year.
I know my contributions will rise if I get the full time one but will I be "allowed" to accept the part time post while in a trust deed as the could mean a drop in my contribution. I currently earn £23,000 per year and my monthly payment is £250.
I hope I do get offered a post as ere isn't much scope for progression in my current post.
What does people think?
Lynn [:)]
20/03/2012 9:24 am
Hello LynnMac2011.
The first thing to say is that you can choose to do as you wish with your employment. No trust deed firm can prevent you from moving to new employment paying a higher or lower rate (or working more or less hours).
However, if you voluntarily choose to reduce your income in a way that means you cannot keep up your current trust deed contribution then there may be consequences for you.
If the contribution drops one option would be for the trust deed to be extended so that the same sum as originally promised to creditors is eventually paid over.
If the contribution has to drop dramatically (or cannot be afforded at all) you may find that your trustee resigns from your case and that you are then faced with dealing with your debts directly again.
It's probably therefore a case of thinking through the numbers involved (if it becomes an option) and also considering what your main priorities are.
Good luck with the interview.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
21/03/2012 3:40 pm
Hi Lynn
How did your interview go? Was thinking about you earlier.
Worriedme.
worriedme
21/03/2012 4:18 pm
Hi Lynn
You can choose to reduce your hours or increase it's your decision and you quite rightly said your contributions may increase if you choose the full time post.
Your trustee has made an agreement with your creditors that they would receive a specific sum. If your contribution per month has to be reduced, then your Trust Deed could go on longer than expected. If you are unable keep up the payments you should discuss with your Trustee as you may be able come to an agreement depending on how long you have been in your Trust Deed.
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