Hi blackboab; welcome to the trust deed forum.

In terms of the wage rises, was it the case that the trust deed company only became aware of them (and therefore factored them into your monthly payment) at a subsequent review when you had already been receiving increased pay for a while? If that's the case I can understand why the trust deed has been extended as, effectively, arrears will have built up. Trust deeds cannot be extended without reason.

All of your debts should have been included in the trust deed, including the two overdrafts you mention (assuming that they existed at the time the trust deed was signed?). Were you advised not to include them or were they simply somehow missed? You should advise your trust deed company about them now as they should be included in the trust deed. This would take away the need to pay the ?ú100 per month extra. This ?ú100 will not have been factored into the calculation of your trust deed payment and therefore will be making living on your budget extremely difficult to manage at the moment (i.e. you start ?ú100 behind every single month).

hi amy...thanks for replying..
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yes i included one of the overdrafts which was and still is at around ?ú1500 at the time i first took the trust deed out but for some reason..wasnt included ...i just thought overdrafts were not included.. ...this costs me around ?ú40 pounds a month to service..
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my other overdraft has gone up in the last few years as i have tried to make ends meet...but i didnt include this at the start of the trust deed as it wasnt overdrawn at the time....
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so should i contact them and ask them to include the overdraft i had at the time of taking out the trust deed ?
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thanks

Hi blackboab.

Overdrafts are included in the same way as any other type of unsecured debt. I think you should let your provider know about the account that was left out at the start. This does happen by accident from time to time and it can be dealt with in those circumstances.

I wonder if your trust deed company will try to recover the payments you have been making to this overdraft for the benefit of all of your creditors.

Hopefully an extra ?ú40 per month will be of some use to you as you enter the final stages of your trust deed.

Any overdraft built up after the signing of the trust deed will need to be repaid, but anything incurred beforehand should be included - you should definitely make your trustee aware of this blackboab.

thanks for the replys....i will contact my trust deed company about this...another question about this...my overdraft that i want to include in the trust deed is with the same bank that my mortgage is with...and i transfer my mortgage payments into this account from my other bank account that my wages get paid into.....i obviously dont want the bank to withdraw my mortgage on my house....thanks...

Hi blackboab.

So long as you continue to pay your mortgage it will be fine.

I would suggest however that you quickly ensure the mortgage payment arrangement comes from a bank account that isn't connected to any of your creditors in the trust deed. Failing to do so could cause "offset" issues, at least temporarily.

hi again....
.well i have contacted my trust deed provider and they want proof that i had the overdraft at the time i took out the trust deed which i should be able to provide ok...i am still worried that the bank will take my mortgage payments out the account that has the overdraft on...you see ...they dont allow me to pay the mortgage straight into the mortgage account...it has to come from an rbs account ?...again for your help..

Hi blackboab.

If you refuse to pay the mortgage from an RBS account, RBS will not be able to (or want to) refuse a payment from you to the mortgage from elsewhere.

Perhaps you could escalate this with the mortgage team there?

thanks for the replys...i was just wondering...i have just realised that the rbs bank account that i would want to include in the trust deed was in joint names at that time..could this be the reason why it wasnt included in the trust deed at the time ?....thanks again for all your help...

I guess so, blackboab, though it should really be included anyway as they are entitled to a share of the trust deed too. The difference is that they can expect the rest of the overdraft to be repaid by the joint party (not by you).