Welcome to the forum AI2014.

Apex took on the trust deed cases previously being handled by RSM Tenon.

There is no maximum time period for a trust deed. It can run until all obligations have been completed.

Lots of companies do a review at the end of the process to ensure that their client has completed their obligations before discharging them. This might be what's happening here.

You agreed to comply with reasonable requests from your trustee when you signed. It doesn't sound like you're being asked to do anything unreasonable.

I'd suggest you try to call them again tomorrow. Hopefully you'll find out that this is the start of some good news rather than anything to worry about.

Thank you for replying so quickly. I will definitely try calling them this week. Can I ask what is meant by obligations? And also if there is no maximum time, does this mean I could pay indefinitely? I've paid the correct amount that was on my original paperwork in 2009. Can they make me pay more than what was agreed? Thanks

Hi AI2014.

By obligations I mean everything you committed to do when you signed your trust deed.

That includes your monthly contributions, but they're not set in stone. For example, if your income went up or your expenditure down your payments might have to increase.

It also includes significant assets, such as equity in your home or a car for example.

It could also includes windfalls that might have come your way.

Of course you may have competed your obligations, in which case a final review might open the door to your discharge.

Many thanks again. My car and home were taken into account at the time and the interest in my home was bought out by a family member. My income did increase during this last while however, as I had came to a set agreement with RMS for the last three years this wasn't an issue. If I have paid the full agreed amount as confirmed from the original contract surely this means I am finished? Regardless of a change in income as I've met the agreed obligations?

You may well be right and I hope that's the case.

It's one of those questions though that can really only be answered by your trustee.

A lot of the people at Apex transferred from RSM Tenon (along with the case records) so I'm sure a previous agreement would be known and honoured.

Thank you. Hopefully it'll be resolved. I'll inform of any issues and progress soon. Thanks again.

Do you have the letter from ram tenon setting out the agreement 3 years ago? Might be worth finding this just in case you need it.

Hi. I have searched but can't find any paperwork. I do remember a very lengthy phone call with my RSM caseworker and agreeing a reduced payment for further 3 years. In year one I paid £270/month. I made a couple of payments in year 2 but couldn't maintain it. In year 3 RSM agreed that I pay for a further 3 years at £170 and that would be the maximum of 5 years I could do. I agreed to this and have paid £170 every month for past 3 years. I did change job and earn more money now but as I had the agreement of this extension to meet what was owed on the original TD paperwork i thought that was ok. I've never heard from RSM since until I received this letter from Apex on Friday. But I definitely have made all the payments agreed.

Hi Al2014,

There isn't anything set in legislation that states the maximum that a Trust Deed will run for. When you signed your Trust Deed in 2009 most Trust Deeds were done over a 3 year period and if for some reason there was a problem then this could be extended an additional couple of years. Generally speaking most Trust Deed firms didn't look to run a Trust Deed longer than 5 years as it meant that their level of fees would increase and the pot for creditors would reduce. It's about trying to find a balance in all of that.

If a change of circumstances occur in a Trust Deed then the payments can be reviewed and reduced or increased accordingly. If you have received an increase in income during the period of your Trust Deed then your monthly contribution could have been increased. Everyone that enters into a Trust Deed has a duty to inform their Trustee of any change in circumstances.

I'm not sure how Apex will assess your situation if they are aware that there was a change in circumstances.

How much of an increase in income did you receive?

You will need to give Apex a call and discuss everything with them.

Let us know how you get on.

I'm with APEX and due to changes in cirumstances (my job) my payments were reduced, hence my trust deed term is longer.
I began paying in December 2011 and I was informed today I have another 31 months to go.
It does seem a long time, but at the end of the day, I got into the mess that forced me to be on a trust deed and I'm perfectly willing to pay the amount I had agreed with RSM Tenon at the onset. I'm now currently clearing my outstanding contributions that I owe due to my monthly payment being decreased. Once paid, I will have paid the full amount agreed at the beginning.