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Scottish Trust Deed Forum
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18/11/2020 9:14 pm
Hi, I’m after some advice regarding my trust deed. I started august 2016 and it ends April 2021 after being extended by a lender who came back with a higher value of debt. I’ve submitted a review to my now third company (it’s been passed from knightsbridge to Pinnacle to now carrington dean) I honestly can’t even remember my original income and outgoings and I know I didn’t hear from pinnacle for a review. I live with my two children and a third in Uni and although my income looks good, my outgoings (realistic) are not far off this. I have always paid £200 a month and never missed payment even when I thought I couldn’t manage, I’ve always prioritised it with my rent and council tax. What will happen if they think I’m owe loads more money or if I spend too much money?? I had around £200 over time for the last 4 months as I was covering another’s girls Job whilst she was furloughed but that has ended again now. Can this end up going on even longer for me?? I’m terrified and don’t handle all this well, I ended struggled mentally with it all two years ago and embarrassed to say after doing something stupid ended up on anti depressants for a time and I really don’t want to get back to that level of stress and worry. Do you know what I should prepare for here? They have 6 months bank statements and pay slips too. Sorry for the long message but I’m so nervous about all this again...I just want it to be over.
19/11/2020 9:29 am
Hi Fdillars, and welcome to the forum.
The first thing to say is that you should never be asked to pay more than you can reasonably afford by your Trustee. So if the information you have sent back shows that £200pm is as much as you can manage then there is every chance that this would be accepted.
There are formal guideline figures that your trustee will use when assessing whether your outgoings are reasonable, based on the size and make-up of your household. As long as you are not being lavish in your spending then there is no reason to think you will be exceeding these guidelines.
In terms of your income, it may be worthwhile stressing to them that you do not expect it to stay at the same level going forward.
It's impossible for us to say with any certainty what the outcome of the review will be, but I would hope and expect that there is nothing for you to worry about unduly.
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