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Topic starter
12/03/2012 12:02 am
I signed my trust deed a couple of weeks ago and I am keeping my fingers crossed that it becomes protected. I was wondering if anyone could tell me exactly what the six month reviews involve? For example, I have an allowance in my income and expenditure for utilities, council tax etc but I don't pay these directly. My boyfriend pays the bills and I give money to him for half. Will it be a problem that there are not payments on my bank statement going directly to utility companies etc?
Also, is it only wage slips and bank statements that will have to be provided or will I require to provide receipts for things like petrol, groceries etc. If I have over-estimated for anything will that extra be expected to be paid over to the trust deed or can it be saved?
Finally I would like to thank everyone on the website. The advice I have found here has been invaluable and it is a fantastic resource for anyone considering a trust deed.
12/03/2012 12:25 am
At review time I simply looked at my previous review paperwork and if I was spending more on something upped my expenditute sheet to reflect this. Also when my mortgage went down ,I reduced this expense. Things like car insurance I left the same throughout even though my monthly cost decreased slightly as my case manager said if I could make savings over my agreed expenses the extra ws mine to keep.
It can be a worrying time but the review is to help you as much as anything else.
What was agreed at the start regarding you council tax??
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
12/03/2012 12:28 am
We only needed to supply 3 months of payslips snd a bank balance figure not actual statements but this may vary between firms. Any expenditure you want to raise significantly you should try to provide evidence,I kept fuel receipts for a month to prove my allowance wasnt enough.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
12/03/2012 9:53 am
Hi misslinds.
Allowances are created for things that aren't easy to track (like food for example) so don't worry about receipts for that as the allowance is there to be spent as you choose.
I doubt there will be any issue with you paying money to your boyfriend to pay the household bills. If needs be you'll be able to demonstrate how much they are costing you as a household (which will probably only arise if they increase).
Documentation requirements at review will vary from firm to firm. I'm sure your firm will let you know what they'll need if you ask them.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
12/03/2012 10:04 am
Hi misslinds
To date we have only had one review (1 year review coming up in a few months).
We were asked only to provide an updated income and expenditure and 3 months wage slips (i.e. no bank statements).
Review went through without a hitch with no amendments to our monthly payment.
I have heard whispers that the "final review" can be a bit more onorous, with bank statements and the like being requested. I'm hoping this is not the case, but perhaps someone who is beyond that stage can confirm?
PB
12/03/2012 1:40 pm
Hi Misslinds
On my six monthly review I had to provide a new income and expenditure sheet and three wage slips - I think it varies from company to company.
12/03/2012 2:29 pm
Hi misslinds
You dont need to worry. Reviewsare just to see if there has been a change in circumstances. You woould normally be asked to complete an Income & Expenditure, and provide your last 3 wage slips. You can simly show how much you give your partner towards the household bills. It is not a trick...honest!
Shona is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
15/03/2012 5:37 pm
Thanks for all your replies - very helpful information as always.
misslinds
