Hi Trixie

Although I have read different experiences and advice on here, my own experience is that I was in a similar position and was offered a loan to repay it. I approached my trustee, however, he refused saying that if I got that money he would need to take it all towards the trust deed since repayment amounts are only a contribution towards the whole debt. As it happens I made my last payment last year. I had no idea if that was correct or not, it is just the way it was for me.

Aw ok. Ill ask my trustee for their take on it. Was hoping it might be a way out of this nightmare lol

Hi Trixie1980.

They may well be open to that kind of offer and we've often heard from people that have had them accepted.

Your trustee doesn't have to accept, but there is no harm at all in asking.

Thanks TDA I'll give it a shot and see what they say.

Thanks!

if you dont ask you will never find out. Often if there is a good reason to conclude early its much easier for creditors to accept such a deal.

Paul

Just another quick question. If they agreed and I paid the £6,000, I understand that the trustee may need to stay in office to deal with PPI, which I'm happy for them to do. But if I got a big pay rise after I'd paid off the contributions, would they have any right to make a claim on my extra wages?

Thanks

not after you are discharged. you get discharged first then they remain in office to chase up the ppi.

Paul

I think that may be the reason the trustee will reject the offer as there may be potential for a pay increase in the next 24 months. I suspect any offer of settlement would need to be at least 24 months into the Trust Deed.

Mark