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Scottish Trust Deed Forum
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Topic starter
29/10/2015 8:38 pm
I'm not very good with numbers (probably a lot to do with why I ended up in a trust deed!) so can someone help me understand this. I recently went from part time (4 days a week) to full time which meant my salary increased by around 20% so I was expecting my trust deed payments to increase by the same amount. Instead they have almost doubled. The administrator says they allow me to keep half and add the rest onto my payment. How can my payment double if my income doesn't double or my outgoings haven't halved?? So confused :-s
30/10/2015 9:22 am
Welcome to the forum Alyc11.
It's probably not very productive to think of this in percentage terms.
A trust deed payment is based primarily on affordability. You're asked to pay what you can reasonably afford after your reasonable bills and expenses have been covered.
For example, "John" might pay £100 per month into his trust deed. He gets a £100 per month pay increase and none of his bills or expenses have increased. His trust deed payment might therefore double from £100 per month to £200 per month - based upon an affordability calculation.
If you've been allowed to keep 50% of the increase (and none of your expenditure has increased very significantly) that's probably a fairly good result for you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
