Welcome to the forum. Things will get better, it's just you're in the start part of a trust deed where everyone and they're dog who thinks they're owed something'll call you. Did you change your bank account? That was one of the first things I did. I wrote to my bank to inform them I was in a protected trust deed and that the account would no longer be used. Contact your trustee, make an appointment if possible and talk everything through with them. The chances are, they'll have had to deal with similar issues before.

As for the PPI claim, one of the experts will be able to advise you. I was one of the daft people that happily asked for PPI because I had a fear of losing my job and not being able to pay bills. As it ended up, I never lost my job but couldn't pay my bills due to spending too much. Don't think PPI covers that (unfortunately[:(]).

Stay around and I'm sure someone will be along soon to help. You'll get loads of info. A bit of advice though - Trust Deed Assistant is not a robot or automated reply service. She's very helpful and never seems to take a break. Maybe she's perfected cloning[:o)].

Hi Stressed-out-mum, welcome to the forum.

The bank can only submit a claim for the sum due at the date you signed the Trust Deed, so I wouldn't concern yourself about that. The bank probably just haven't updated their system yet.

I'm not an expert on PPI refunds however I would of thought that the bank would be entitled to offset any outstanding sums against the sum that you are awarded. Did your trustee not advise you how much of the balance, if any, that you would be able to retain?

Julie

HI
Thank you so much for your quick reply, i have got a new bank account through TB, when i tried to close my old account even after they were informed of my trust deed they told me i could not close it because of the overdraft which is included in my trust deed, my PPI was paid into my old account where they promptley took off a loan reapayment and charges, so when i checked to see if they where adding any more charges on to the account turns out they are so all of the charges and the loan repayment were taken out after the trust dead became protected even though i had cancelled the direct debit for the loan when i checked today it said it was not cancelled. I am scared to contact my trustee about the rest of the PPI money because i have paid the lawyers that was dealing with it there money today, but i have also used some of it to go food shoping, i am so scared because i dont know if it will invaladate my trust deed, i am willing to give the rest of it to my trustee, i am confused on how it works when you revieve a set amount of money that is not wages or tax credits, sorry if im babaling or not making sense my head is so messed up...

Hello stressed-out-mum.

A lump-sum like a PPI payment would normally be viewed as a windfall to be paid into the trust deed. As such, if you have received such a sum your Trustee may well expect that it is paid over to them. It isn't impossible that they'd allow you to keep some of it but that shouldn't be assumed.

What is done is done. I think that the best thing to do will be to contact your Trustee and clarify the situation and work out what happens next with them otherwise it will remain a worry for you.

I don't think that you should worry about the sum that the bank "swiped" from your account; that was out of your control.
Paying the solicitors doesn't seem entirely unreasonable given that the claim would not have paid out without their help. Hopefully the Trustee will take the same view.
If you've used some money to go food-shopping I'd have thought you'll be able to pay it back in time. It doesn't seem like an issue that should stand in the way of your trust deed continuing.

Also, please don't worry about statements showing interest and charges mounting up. Your trust deed means that there isn't any interest or charges no matter what a bank chooses to print on a statement. Please just ignore them.

What they might do is extend your trust deed by a number of payments to cover what they would see as a windfall. Don't be scared of your trustee. The more open and honest you are with them, I'm sure the better your relationship will be for the length of your trust deed. Make a list of what you got paid, what you've spent, what the bank took and what you have left. Give this to your trustee and see what they say.
As for the statements, you'll get those. Under new financial legislation (according to the ones I get), you legally have to be sent these. Even if you're in some form of debt plan. Either file them or chuck them. You could also send them to your trustee. Also, as your trust deed is quite new, you'll probably start getting letters from creditors. I used to keep them in a big envelope and post them to my trustee once a week. They're there to deal with your creditors so you don't have to. Ignore withheld numbers and numbers you don't recognise and it'll settle down eventually. It took 6 months with me.
Three years will pass quickly but establish a good elationship with your trustee. They're there to help.

Depending on the amount taken by the bank, your trustee may request those funds to be paid over by them to your trust deed so that it can be shared out amongst all of your creditors. Not something you will have to deal with though.
As others have said, I think it is best ot be up front and I am sure you will find you are worrying unnecessarily and can change your username to chilled-out-mum instead.