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Scottish Trust Deed Forum
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Topic starter
14/04/2012 8:03 pm
I note in my Trust Deed papers that if I earn overtime payments, 50% of the payment will be taken with the monthly contribution. If my salary increases what percentage of the increase will be taken into account with the monthly contribution? I have been unable to find this out from paperwork I have.
14/04/2012 8:35 pm
Hi carol57
It doesn't work the same way. You would need to do a revised income and expenditure to see what surplus is left.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/04/2012 8:47 pm
Hi Mark,
Thanks for your reply. My new job has increased my salary by £700 per month. The new calculation by my trustees has increased my payment by £580 per month. Is this correct as it has taken the majority of my salary increase? It feels like I am no better off after being promoted. Are there any guidelines that state how my payment is worked out?
14/04/2012 9:38 pm
You have to pay whatever you can reasonably afford, so I'm afraid it sounds about right that your payments would go up by the majority of your wage increase unless your outgoings also increased at the same time.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
14/04/2012 9:54 pm
Thanks for your help with this Kevin.
15/04/2012 12:35 am
Dont be shy in asking for increases in allowances. Food and fuel are continuing to rise every month. Be prepared to back up any claim for an increase in an allowance with receipts as proof.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
