Hi Billyboy1.

I'm sorry to hear that your job is at risk. Unfortunately it isn't possible to finish your Trust Deed before you reach the 4-year mark unless you have paid off the full level of debt you had at the start, plus interest plus the trustee's costs and outlays.
Your trustee will likely require the enhanced sum to be paid in for the benefit of creditors, I'm afraid. As you say, the statutory sum should be exempt from this until you find other work, although it is possible that if this happens fairly quickly then the trustee could also seek some of those funds too. Ultimately any money you receive over and above what you need to cover your living costs needs to be paid in towards your debts.
Sorry if this is not the reply you were hoping for.

Hi kevin thanks for a quick reply, i thot the enhanched payment would go to my trust deed, but i was in the understanding that i would be able to keep all of the statutory payment til i found other work, after all the enhanced payment is £7600 which i dont mind paying into my trust deed one bit if i am to get payed off it will be roughly the 25th june thats the projected date we were given , the statutory payment is £9500 and if i dont find work quickly that wont last forever, thanks for your reply kevin.

Hi Billyboy1,

I think you'll continue to have the benefit of the statutory payment until you find work. Kevin's point (as I understand it) is that if you find new work fairly quickly then you could reasonably be considered able to contribute an additional sum into your trust deed.

Hi tda thanks for your reply am actually going in to a meeting at work at 1pm,thanks

Yes, thanks TDA. That's what I was trying to say, just not managing to do so very clearly.