Welcome to the trust deed forum manjo.

I'm sorry to hear that you are struggling financially at the moment.

Are there any particular questions that you have which we can help with?

should i not be in a better financial position

Are your trust deed payments not less than what you were paying to your creditors before, manjo?

yes they are but i was not managing to meet my commitments hence the trust deed the problem i have is the income and expenditure is ok we need our income to meet our bills but we have to pay £540 a month through a third party for our equity and this figure was not included right now i have no gas no electricity (prepaid meters) no petrol i am at my wits end

Hi manjo.

Are you trying to pay this £540 yourselves (as well as all of your bills and your trust deed payment)?

I'm not surprised you are struggling if this is the case, manjo. The whole point of a third party being involved is that they are needed because your disposable income is fully utilised by paying your income contributions to your trust deed. There is no scope to accommodate you paying for equity yourself via somebody else.

I am struggling to pay my trust deed as cost of living has increased and i am the only one earning at th moment. I have contracted my TD company and have broken down my expenses and they are threatening to deduct from my wages. If i cant pay my bills i wiil be thrown out as my parents dont work and cant help.

Need help

Hi net and welcome to the trust deed forum.

Can you tell us a little bit about the background to the situation please?

Who lives in your household? You mention you're the only person working at the moment, were others in the household working before?

Which parts of your cost of living have increased?

I got myself into a lot of debt and my mum and dad tried to help but i was living with nothing and was getting threatening letters. Went into trust deed and have been paying it for the last 2 years just this year with costs for gas, electricity,opticians, board, telephone, transport for work etc. It got so bad my parents took a loan out for me , which they cant pay back and i have to pay that back as they cant. I have told them i can only pay 100 instead of 200 and they still refuse and send threating letters. I am trying to get new job with more money or another job but i am barely sleeping with worry and have been put on tablets. Dont know what to do.

My brother moved out so he isnt there anymore to help.

I meant 100 each month for trust deed instead of 2 even though it will extend the time of the deed. I got my ppi as well last week which was 1,500 so i am trying.

Hi net.

I'm really sorry to hear that your health is being affected by all of this. That's obviously the most important thing right now. You may not be inclined to but, if you haven't, I'd suggest making sure your trust deed firm is aware of this side of things.

Am I right that you live at your parents home and contribute by paying board and some of the household bills?
If so, could you tell us how much that used to cost in total and how much it is now?
Have you been asked to pay more since your brother left?

The situation with the loan your parents have taken out for you is very difficult. Your trustee will not be able to make an allowance in your "income and expenditure" to repay new debts that have arisen since the trust deed began.

What happened with the PPI money you received?