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Settling equity

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(@havingkittens)
Active Member
Joined: 14 years ago
Posts: 10
Topic starter  

Yes it was effected TDA. I have a two month extension now. I was off work for 3 weeks and now I doing just half shifts, so a part of the claim is for loss of earnings. It seems unfair I have to give it all into the pot.


   
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Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi

Sorry to hear about your accident, I hope you are not hurt too much. The compensation you receive may be split inot 2 parts: loss of earnings, and compensation for your stress. The Trustee will take all of the loss of earnings, but you can retain the sum that is paid for stess or 'hurt feelings' if you like. Unfortunately, the bit you get to keep is normally a small percentage of the total compensation award. (It comes under Salatium in the Bankruptcy Act.)

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
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(@havingkittens)
Active Member
Joined: 14 years ago
Posts: 10
Topic starter  

Thanks Shona. It still seems unfair the trustee takes all the loss of earnings as I have been kept going by loans from relatives. I'm self-employed so I don't get paid if I don't work. But if that's the law then there's nothing I can do about it.


   
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Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

I know, it sucks! Maybe your Trustee will be sympathetic.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
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(@havingkittens)
Active Member
Joined: 14 years ago
Posts: 10
Topic starter  

I hope they will! I think I already know the answer, but the trustee still have a claim on any monies until I am discharged? I have seen from other posts, it was said that any money after all the (monthly)payments have been paid then it goes against the equity. Please could you clear this up.


   
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Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi

sorry, I am afraid youkeep getting bad news. The money would not come of the equity, as it is seen as a sepertae asset, sorry.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
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