Hi Danielle,

I'm sorry to hear this.

Looking back at your posts early last year I think you stopped making the trust deed payments for a while after the separation.

Only your trustee can tell you why the arrangement has been extended, but I wonder if this might be part of it?

You're entirely entitled to have the reasons explained to you by your trustee.

I can't answer your question about the lack of contact as I'd only be guessing. Were they kept updated with your new contact details? I'm afraid this is another (entirely fair) question for you to put to them directly.

Yes, I had missed some payments, however when I spoke to them after the house sale, it was agreed over the telephone that because they had received such a large profit from the house sale that they would keep the term at the 4 years, but this seems to have been overlooked.
They told me on the phone the reason it was extended was because of the house sale, which confuses me. An assets manager is contacting me tomorrow to explain.

Yes they were kept fully up to date on my details and knew my new address.

Hi again.

I'd suggest asking them to review their case-notes from around that time. Hopefully the details of this conversation can be located.

Please let us know how your conversation goes tomorrow.

Hi Danielle,

Sorry to hear about the significant change in your circumstances and the problems you have run into with your Trust Deed. It does sound like it’s been a difficult time for you.

When it comes to a Trust Deed at the outset a proposal is made to your creditors explaining how much funds will be ingathered and what dividend or £ in the pence will be paid back to them at the end of the Trust Deed.

If throughout a Trust Deed payments are missed then the Trustee can consider the extension of the Trust Deed to try and ingather the amount of funds that was originally proposed to the creditors or to consider alternative options if the Trust Deed wasn’t viable to continue with i.e. your income had fallen so much that you could make a suitable payment.

I would check to see what the original proposal to the creditors was and what the current position is with your Trust Deed i.e. how much money they have received and how much of a return creditors will receive if your Trust Deed was to be brought to an end now.

It could be the case that you have paid in more than the original proposal and if your circumstances have changed which have meant that you are unable to afford a payment per month then it could be possible to close the Trust Deed without the extension. After all the creditors are receiving the same or more than what they had originally agreed to.

I would check to see what the original proposal was and how much was going to be repaid to your creditors and ask them why the Trust Deed is being extended. Make sure you receive everything in writing.

Let us know how you get on and what they say.

I don't understand why your trust deed would be extended due to your house sale. Hopefully a misunderstanding, Danielle - hopefully you get some clearer answers today.