If it is affecting his health then it is important to do something about it I reckon. It may be possible to reduce the payments to the trust deed, though you may have to be prepared to extend the term a little to compensate.

Hi Susie,

It really depends on what the financial impact of him giving up his second job would be. What are the payments to the Trust Deed at the moment and what would the be if you didn't have the income from the second job?

Do you own a propery or have any other assets which were included in the Trust Deed?

If you were unable to make any payments going forward and there were no assets available to enable a dividend to be paid to creditors, then it may be that the Trust Deed is no longer viable, and your Trustee may look to abandon the Trust Deed therefore removing the protection currently in place from creditors.

I would agree with Kevin that it is important to take action quickly if it is affecting his health. It may be worthwhile contacting your Trustee to discuss matters in the first instance.

Julie

Thanks both. His second job earns him ?ú350 a month and he currently pays ?ú700 a month to his TD. We have no assets tied up in his TD. I know that means its ?ú350 a month less he could pay how would that affeect his payments. I know if he was paying less he wouldnt mind paying for a longer period.

It will really be down to the individual Trustee, though I would suggest that there is an argument that your husband requiring to give up his second job as a result of ill health represents a change in circumstances in which case the Trust Deed should therefore continue with a reduced contribution being ingathered.