Hi again markoni.

You cannot pay your creditors directly during your trust deed.

If you start to earn more your trust deed payment is likely to increase but this will not necessarily mean your trust deed will end sooner.

The most you will have to pay is the amount of debt you had at the start, interest on the debts, and the fees and costs associated with the trust deed itself. If that's all paid it could end sooner.

Thank so much for the advice.
Ok i see, the thing is i want to pay it back asap and it does not matter for me it will involve fees for trustee, in my case all debt is £7180 and i have to repay £120 pm over 36 months.I have just enough to pay this amount and no more left really.Have to be very carefull.
I have some concerns
1. I dont know if i understand correctly my £120 per month is what i pay to TD but in case i have extra money on the top of this ,will this all go to the creditors via TD ??? I am asking cose i have an option as i start study uni after summer ,i can apply for a saas loan i am entitled to, and here is another question is it possible for me to make proposal to creditors via TD say promise to pay all £5000 in 1 year time for for final setlement? i know is not a 100% what i owe but do u think it can be a proposal for the ? i this if they accept 5000 from me i will be free of debts(creditors) and they will have more than if i pay 120 per month, if not i will never take student loan cose there is no deal for me at all, i could just apply tuition fee to be paid.What do u think about it? i am not even sure if i can make any proposal to creditors while on TD but i have this idea.

Another option is for me to do overtime and all i know i can keep 50% of the money, i am on partime job earning 170 per week and if i do overtime that will be for me extra £200 !! per week, now i can pay all to TD and 52 times 200 is 10000 which is much more than debt and only in 1 year, will this way not end TD early???

Sorry for all this but i am just trying to find the way to pay it early no matter i have to pay more, the main thing for me is that i had to go on TD (i just started) as bank was counting extra 6 pounds per day for unarranged overdraft and i was not able to just pay it back, i have total 6 creditors.

Any idea?

hi markoni. My head is spinning a bit with all the various figures to be honest!

It's not a question I've been asked before about whether you could propose to take a student loan and offer it to creditors as a lump sum settlement. I suppose it could be possible, though you would have to speak to your trustee - and make sure any deal is agreed before you go ahead and apply for the loan.

You certainly could do overtime and pay off the trust deed early - as trust deed assistant says, you would have to clear the debt plus interest plus the trustees fees/costs. To be honest if this was always in your mind then there would have been better options than a trust deed - a DAS would have been perfect for you.

Thank you for advice, it is very helpfull for me, it is just my character i always want to pay back if i take, the thing is i was very stressed and creditors calling bank was charging me so much i wanted to do something,i am sure i was wrong but is too late now i cannot cancell TD now so i have to pay, i just cant accept the strictness of it and i dont want to have it asap, i will contact Trustee, another reason why TD is cose i was off sick for several months and could not do overtime as i have had problems with walking(neropathy) and it was for so long, i could not say after 8 months health issues if i can get better and when, thats why i choose TD, at that time i was unable completely to do overtime just had sick line.Thanks so much for the advice.