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Topic starter
01/03/2013 1:18 pm
Hi,
I'm a year into my PTD. I was under a lot of stress at work and it was affecting my health. My employer gave me the option of leaving with a payoff of £15K, that was November. I have had no luck with finding other employment and we have been refused any benefits or tax credits, due to the payment. The money has been used to pay rent, bills etc. Our normal outgoings are around £2,400 per month, I did have to pay for car repairs and the kids needed new beds, so I have used up a fair bit of the sum.I had 14 years service at my employer
I did not speak to my Trustee at the time, I thought I would find another job quite quickly and now I have to complete the six month review.I have enough left to pay the next two months rent, bills and living allowances. I know I should have spoken to the Trustee earlier but I did not and I am where I am now. I'm over 50 and my job prospects look slim in the current climate. The only thing I can get is a part time takeaway food delivery driver .
Really worried that we may lose everything, including the car and how do we pay rent. Got myself into a bit of a pickle here and not sure quite what to do....
01/03/2013 1:48 pm
Hello SandyF.
I'm afraid there is probably no easy answer here.
The chances are that some of that money should have been paid into the trust deed and that you were obligated to let your trustee know about the payment at the time.
The starting point might be to raise it with your trustee now and see where they want to take things from this point forwards.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
01/03/2013 5:38 pm
Hi SandyF
TDA is correct. I think the best advice is to speak with the Trustee and see if something can be worked out.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
03/03/2013 9:17 pm
It may be that sequestration may be a more suitable way forward for you SandyF, but either way you need to talk to your trustee and let them know the situation.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
