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Scottish Trust Deed Forum
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Topic starter
26/06/2012 11:38 pm
Hi, I was just looking for some advice regarding my TD.
I have 10 payments left of my TD but have just found out I have got a promotion at work which means that from September onwards my salary will increase. I know I have to let my trustee know about this but I was wondering what happens to my TD payments? I will be able to pay more into the TD each month so does this mean my TD might end early? Or will it continue for 10 months with higher payments?
Thanks for any advice.
27/06/2012 12:04 am
Congratulations on the promotion starrysky.
It's pretty likely that your trust deed payment will increase without any reduction in the term.
The principle behind this is that a Scottish trust deed only writes off the debt you cannot afford to repay during the agreed term.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
11/07/2012 4:42 pm
Hi TDA, thanks for replying to this. Im going to wait until i know for definite what my salary is before informing my trustee but i had a feeling the payments would increase!
11/07/2012 6:19 pm
I'm sure they'll be reasonable starrysky, and it's great that you're already on the "final stretch".
I'd suggest you make them aware of any cost increases you've had at the same time as telling them about the pay increase. Doing so may partially offset any potential contribution uplift.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
