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Scottish Trust Deed Forum
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Topic starter
20/09/2010 9:26 pm
Hi
I am currently 3 months into a trust deed and i am staying with my mum and step dad and am paying a small amount of rent to them. However, my step dad is about to be made redundant and my mum is looking to increase my rent to help with costs such as electricity, gas, council tax etc. I am currently paying ?ú80 per month but was wondering how much the trust deed would allow as valid monthly expenditure. I think she was looking for somewhere in the region of ?ú80 per week, which my income would cover.
Many thanks
20/09/2010 10:48 pm
Hi inneedofadvice
it depends on whether you can afford the maintain the payments. If not, the Trustee can resign and effectively you lose the protection of the Trust Deed and get your debts back. This would leave creditors open to pursue you for the debts.
I can appreciate the position and you seem to be caught between a rock and hard place.
Could you maintain a contribution if rent was increased?
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
22/09/2010 11:58 am
Hi inneedofadvice
?ú80 per week is not excessive if it were to cover you for rent, gas, electricity, council tax etc, however as Mark states if because of this increased payment you are unable to pay your agreed contribution the Trustee may resign.
Julie
Julie is not currently posting in the Trust-Deed.co.uk forum.
