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Scottish Trust Deed Forum
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Topic starter
10/11/2011 5:43 pm
I signed my TD in May, it became protected on 12th July with my first payment made on 1st August. I've paid 4 months payments to date.
I was told that I would have to complete a financial review on an annual basis.
Today I received a review form which has to be completed within 7 days. Is this normal practice after just 4 payments. My TD is with RSM Tenon
Saabrina
10/11/2011 5:46 pm
In my case the 1st review was six months after I signed my trust deed, then another six months after that, then it would be annually.......
Looks like your first review is six monthly and is taken from when you signed your Trust Deed in May which was 6 months ago........
10/11/2011 6:05 pm
Hi saabrina.
I think Porcupine is correct and that this is a six month review.
Looking into any changes in your circumstances a couple of times a year will be in your best interests. It means any negative changes to your disposable income could be taken into account in order that the trust deed remains affordable. It also means any positive changes to your disposable income can be adjusted into your payment so you don't later have to catch-up on money that should have been paid earlier.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
10/11/2011 6:23 pm
Ok, thanks. I didn't send documents back until June, and as it's not yet 6 months since I signed I thought it was a bit quick for that.
The only thing that's changing is the cost of living constantly going up, don't think they'll take that in to account though.
Thanks for replying
Saabrina
10/11/2011 10:23 pm
Reviewing a case every 6 months is perfectly normal and it takes into account all your circumstances, it is nothing to worry about.
Shona is not currently posting in the Trust-Deed.co.uk forum.
