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Scottish Trust Deed Forum
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Topic starter
30/10/2012 2:04 pm
Hi there.
A recent forced change of employer means that my wages get paid every 4 weeks now (instead of per calendar month). As a result I get paid much less every month until March 2013 when I get paid twice within that month. This has forced me to realize that on most months until then I will be choosing to either pay my utilities or my trust deed.
Is it possible to freeze the next five months of payments (November until March) until this second paydate in late March when I can use this second payment to pay back the frozen months in full bringing me back up to date? My trust deed ends next September and I have never missed a payment yet.
30/10/2012 2:17 pm
Welcome to the trust deed forum natestate.
You may wish to talk to your trust deed firm about this to judge their thoughts. A short break may be viable in the circumstances, with the missed payments made up later.
They may also suggest paying every four weeks rather than calendar monthly.
It's really up to your trustee though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
30/10/2012 4:12 pm
Hi natestate
I think it unlikely that the Trustee will agree non payment for 5 months. Perhaps a reduction, change to pay dates or small suspension, but as TDA says, this will need to be confirmed with the Trustee.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
30/10/2012 5:25 pm
I agree - there is certainly a case to amend the frequency and amount of your payments but I doubt any trustee would allow you to stop paying for several months in these circumstances.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
30/10/2012 9:26 pm
If you pay all of the extra pay you get in March to your trustee, how do you plan to live for the following 4 weeks? Contact your trustee, who can then review your situation, and should be able to reduce your payments and make them 4-weekly.
Shona is not currently posting in the Trust-Deed.co.uk forum.
