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Scottish Trust Deed Forum
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Topic starter
29/09/2009 12:29 pm
i am currently under trust deed just now the problem is the job i am in just now has cut my hours what happens if i can no longer afford the payments to the trust deed
29/09/2009 1:10 pm
Hi John and welcome to the forum.
The most important thing for you to do is to contact your Trustee as soon as possible to discuss the options available.
Many people experience a change in circumstances during their Trust Deed and there are ways to deal with it. You'll not be surprised that in the current economic climate many people in Trust Deeds have lost overtime and bonus payments that had previously been regular.
I hope you're able to work with your Trustee to find a solution. Please let us know how you get on.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
29/09/2009 1:26 pm
Scottish trust deeds are fairly flexible John and a change in circumstances which is beyond your control should not be too much of a problem. As TDA said, speak to your trustee and you should be able to sort something out.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
02/10/2009 12:52 pm
thank you for your advice i have informed my trustee about the situation i am in they have told me to cancel the standing order and keep them informed of my situation every month to what i can afford to pay thanks for the advice
02/10/2009 1:12 pm
Hello John,
Glad to hear that this has been dealt with reasonably; thanks for letting us know.
As Kevin stated there is some flexibility in Trust Deeds to deal with such events and it's good to see it being sensibly exercised by your firm.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
