Hi eilz123 and welcome to the forum.

There's nothing to stop you from applying for a student loan. Obviously banks themselves are unlikely to be an available source of additional credit as they are for many students.

If there is a major change in your circumstances of this type your ability to pay each month should be reassessed.

If you're unable to keep up the current level of contribution it may be possible to reduce the monthly payment (by agreement with your Trustee). In the circumstances however I'm pretty sure the trust deed term will be extended to compensate for any reduction in the monthly payment.

Hi eilz123

Could you clarify the ?ú100 for insurance. Is this part of your Trust Deed?

Mark

Yes, that jumped out at me too! ?ú100pm seems a lot of money for life insurance...was it sold to you as being somehow bundled up with your trust deed eilz123?

Crikey for ?ú44.00 a month you can get ?ú500,000 life insurance, if I was you I would not tell anybody as if you did you may need to watch yer back.... Family will be hiring a hitman.......lol

Many thanks for the advice, the ?ú100 life insurance - yes that confused me as well but my advisor explained that it was because I could have a figure set aside for life insurance and if I didn't have any in place the amount allocated would go to the trust deed and it was thought to be better used as life insurance than to the trust deed, to be honest thinking about it more I'd rather this extra ?ú100 was allocated to the trust deed especially if I am successful in going back to studying and the amount needs to be reassessed then, at least I will have been paying more up to then, is it advisable to ask my trustee to take this additional ?ú100 towards the trust deed so it looks betters when I (possibly) come to be reassessed in September? and is that possible to alter?

Hi eliz123

Probably nothing to do with the massive commission from such a policy. Was this the IP who suggested this or a middleman company. I could probably guess the firm. 1 or 2 seem to try this nonsense.

My advice if when there's a change is to cancel the policy. That way the insurance will need to claw back the commission, although the salesman is probably still in the Bahamas!

Mark

so would it be ok to cancel the insurance policy and not have that ?ú100 allocated to the trust deed? it was the firm that suggested I take out the insurance to save the money going to the trust deed and they passed my details onto an insurance company so yeah probably did get a huge commission. just confused if I cancel it and have the extra ?ú100 a month to myself or up the trust deed payment, but if trust deed has already been agreed at the ?ú228 monthly cost it shouldnt matter if I keep the ?ú100 extra

Hi eilz123

Could you send me the IPs details through my contact form. The Trustee has an obligation to provide a balanced deal to creditors based on current and future circumstances, not what produces the biggest commissions.

If you were to stop the insurance, I am sure the payment would increase. But believe me it would be the correct thing to do.

Mark