Redundancy payment
 
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Redundancy payment

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(@dredd)
Active Member
Joined: 15 years ago
Posts: 16
Topic starter  

Redundancy payment.

When I signed my trust deed I was due to go on maternity leave. My trust deed was granted and I was to pay a smaller amount while on maternity leave and then it was going to be increased when I went back to work. Unfortunately I was made redundant so I have only been able to make the smaller payment to my trust deed. I am now finally receiving redundancy payment in instalments from my old employer so I am going to contact my trust deed company to increase my payments so my trust deed still finishes in march or april next year however I think I will still be receiving redundancy instalments after this time.
My question is will my trustee continue to take payment from me if I am still receiving redundancy payments even when the trust deed has ended.

I hope this all makes sense


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi DRedd

It is likely your Trustee will seek payments to the point where the full contributions agreed at the start are met. ie if your proposal was 36 x £200 = £7200, the Trustee will probably require you to pay £7,200. The 36 month date is not a key issue.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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