Student loan repaym...
 
Notifications
Clear all

Student loan repayments and TD

5 Posts
3 Users
0 Reactions
2,730 Views
(@shadow79)
Eminent Member
Joined: 10 years ago
Posts: 23
Topic starter  

I have the old mortgage-style student loans from before 1997 that I've been deferring payment on as my salary was under the threshold. When I opened my TD I was advised my student loans would be kept separate.

I'm potentially getting a salary increase which may put me over the deferment threshold. I need to see my payslip to see the final numbers so I can discuss it with my trustee, but wanted to know if student loan repayments are taken into account when looking at income and expenditure? The repayment Erudio has quoted is likely to wipe out my salary increase and I'm worried my trustee will put my TD payment amount up, leaving me worse off overall. I'm finding it a struggle month to month as it is.

Has anyone here been in a similar situation?


   
Quote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi shadow79.

In such circumstances I'd imagine that your trustee will take a practical view about this and work with you to ensure that your trust deed payment remains affordable.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@shadow79)
Eminent Member
Joined: 10 years ago
Posts: 23
Topic starter  

Thanks for the reassurance, TDA. I'll be speaking to them today or tomorrow. Fingers crossed!


   
ReplyQuote
(@shadow79)
Eminent Member
Joined: 10 years ago
Posts: 23
Topic starter  

Hi, just wanted to give a quick update. I called the trustee this morning and they've sent out an income and expenditure form for me to complete. They said exactly what TDA advised - they'll take that into account alongside my pay increase and work with me to agree what's affordable.


   
ReplyQuote
David Tannock
(@david-tannock)
Famed Member
Joined: 12 years ago
Posts: 2581
 

Hi shadow79,

It's good to hear your Trustee has taken a sensible approach to this.

David is not currently posting in the Trust-Deed.co.uk forum


   
ReplyQuote
Share: