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Topic starter
23/09/2011 3:21 pm
2 topics in 2 days is never good - but here goes!
Just a couple of questions I hope someone on here can answer.
I know the trust deed is subject to reviews and I was just wondering what they involve. When I signed the trust deed I was earning £14k and my income & expenditure was done on that. I was made redundant and my next job was only £10.5k, but I continued to pay my contributions at the same rate. I got a new job in February (yay) earning £16k and I informed the Trust Deed company straight away. They agreed that if I do a new income & expenditure to show my new earnings and any other expenses which changed (travel etc) it shouldn't need to affect my contribution. I did this and emailed it to my advisor and didn't think anything of it.
I had to contact her again a few months later and enquired about it and she said she had never received it, so I sent it again. Got a letter through a month or so after that saying my advisor had changed so I contacted him to ask if my I&E was up to date and just to make sure I had correct contact details - he wasn't sure what details he had so asked me to email it. I did, 3 times now, and I've heard nothing back. I can't get ahold of him on the phone.
Basically I'm just worried that I go to a review meeting in December (when my payments started) or October (when I had the meeting) or whenver and they say I've been paying the wrong amount, 'cause I really don't think that's my fault? I've told them several times I'm in a new job and asked if my I&E is okay at the new figures and no one is telling me.
Secondly - joint back accounts.
I have a joint back account with my fiance which was previously just my account. We were going to use it for bills etc but when I signed the trust deed my "main" account was with a company I had debt with, so I started using this one full time.
The only problem is that he is a part time respite foster carer and the money he gets for this goes into that joint account. It's not my money as he is the only one who gets paid from them, dispite me being registered with the foster care agency (but in an unpaid capacity) - could this be counted as my money and affect my contributions?
Thirdly - sorry, this is getting ridiculous.
My trust deed is due to end in December 2013 and we're getting married in the April of that year. Will that affect my contributions at all? As far as I know the trust deed is personal to me and his earnings won't be taken into account whether we're married or not?
Fourthly - and lastly, honest!
My mum is looking to get a new car at some point (probably before my trust deed finishes) and would probably want to give me her current car. It would stay in her name as the finance would be paid off so it would effectively be her car but "live" with me. Does that mean I'd have to count it as an asset?
Thanks for your patience in reading all this!
Clare
23/09/2011 3:48 pm
Hi Claree_x.
In terms of your changes of circumstances it sounds as though you've tried hard to do the right thing without much help.
I'd suggest that you write to your Trustee formally (addressed to him or her personally) summarising what you have written here about your changes in circumstances, your efforts to bring them to the attention of your contacts, and the absence of any response.
This may encourage them to act now and also may help to protect your position later when the review happens.
So long as your partner can demonstrate that payments have been made to him in the joint account I cannot see any issue there at all.
Getting married makes no difference at all. What is relevant is whether you live together. If you already do (and did at the start of the trust deed) there should be no changes. If you start to live together (and didn't before) your partner will be expected to pay his fair share of your living expenses which could affect your trust deed contribution (as your expenditure may have gone down with some costs being split).
The car would only be an asset if it's yours. You can be the registered keeper but not the owner. If you wanted to be ultra-cautious you could get a letter from your mum saying that she's lending you the car, but that probably isn't necessary.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
26/09/2011 10:52 am
Thanks for your reply - much appreciated 🙂
I'll send a letter (with a copy of my I&E) tomorrow and hopefully get a reply this time, it's just a bit worrying that I've been left to get on with everything without even a reply. I've spoke to him on the phone a couple of times but he's fairly unhelpful - always telling me to put it in an email which he then doesn't reply to!
In terms of the money from fostering, it's sent via cheque and addressed only to him, I take it that would be enough proof that I've got nothing to do with it?
We've lived together since the start of the trust deed so expenses are just the same (if not higher with the price of food/petrol/everything else, but that's life!) so we have nothing to worry about?
Thanks again.
26/09/2011 11:47 am
Hi Claree_x.
If you lived together at the start of the trust deed marriage will not make any difference to your situation. It's the co-habiting that is relevant rather than any more formal union between you.
It sounds like you can clearly demonstrate which money is paid to each of you. I cannot see any issue with that either so long as the trust deed firm is aware of these sources of income already.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
