I should imagine that if you send in all of you income and all of your outgoings and a cover letter explaining the situation they will have to review your situation, they can't have what you have not got. If you offered to send bank statements each month for the next couple of months as proof of your change in circumstances I'm sure it will all be ok. Maybe the experts can advise you a bit better on how you stand but I do know that it is common for trustees to except reduced payments in the event of a change in circumstances although this can lead to extended payments at the end of the trust deed to recoup for the reduction. I dont know your full details however your trustee could look into sequestration as an option if the future of paying could become a problem and with only just over 12 months into the trust deed, hope this helps a little.

Hello sm12345 and welcome.

Good advice from gemgem.

It's going to be best to work through your new income and expenditure as soon as possible. You'll then know where you stand, whether the trust deed still makes sense, or whether another option has become more suitable for you.

You cannot pay what you do not have so please don't worry too much.

Hi sm12345

The advice from your IP's office is certainly strange. They will review things, but are not likely to change things!!

As stated above, it depends on Inc/exp and not what might inconvenience your IP. It may well be that the amount is reduced and the period extended or that the Trust Deed is no longer viable.

Mark

Thanks everyone for replying, As soon as i have moved into my new accomodation next week i will write a letter explaining the new circumstances and change in income and expenditure and see what they come back with, sequestration may be an option, however because my trust deed is 'linked' to my husbands i dont know what that would mean for him, so will need to try and work out the best option.

Hi sm12345.

I'm not sure that what happens with your case will affect your husband's trust deed.

They were accepted individually by the creditors on their own merits.

Hi sm12345

TDA is correct, you and your husband's Trust Deeds were set up independent of each other, so what happens with your Trust Deed shouldn't effect your husbands Trust Deed.

Did you own your family home, and if so was there equity in the property?

Julie

Hi
No we dont own any property, the only assets we have is our cars, and the trust deed has estimated that mine will be worth less than £1000 at the end of the trust deed, so that should hopefully make it easier to work things out