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
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.