Hi duncan1973

Unfortunately no. You have an obligation in the trust deed to contribute surplus income towards creditors.

I can appreciate your comments, but sometimes the easiest way to look it would be if you were a creditor and the IP did not seek any payment, then how would you feel?

The position re bonuses and overtime etc should all have been agreed at the start before you signed.

Mark

Welcome to the forum duncan1973.

You're a bit fortunate that you're able to keep 50% of these extra earnings. We've had plenty of posters over the years that have had to hand it all over.

Fair enough that your creditors get a bit more of the money you owe to them if you can afford it? And an incentive for you to work hard and live more comfortably during your trust deed?

For readers considering a trust deed, this is an issue to get straightened out before you sign it. Many firms (including those represented here by Mark, Kevin, David and Rob) will be open minded about considering some kind of split between you and your creditors.

I meant to ask, have you looked at the income and expenditure figures used to calculate the £100 increase?

If so, are there any that you contest?

Hi Duncan1973,

I'm sorry to hear that you're unhappy with your Protected Trust Deed. Obviously we'd like to resolve this. If you've not already spoken to the team at Wilson Andrews, then please can you email us using the email address in the "contact us" section of our webiste.

We'll be happy to go through your income and expenditure figures should you feel that they are unrealistic.

Thank you

trust deeds are always based on affordability which means payments may go up. They may also go down but normally this would go hand in hand with an increase in duration of the trust deed.

Was it clear from the start what would happen with bonus and overtime pay?

Paul