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22/02/2012 11:00 am
Hi, my husband and I are 18mths in to our 36mth trust deeds. We agreed a total monthly payment of £470 at the start, however, last year my husband had to leave his job due to I'll health, he is now much better and looking for work again and at present on JSA. All through this we have scrimped scraped and borrowed from family to keep up with the payments, which we have done up to now, as we really do not want to end up having the trust deed extended. Then after completing our 6mthly revue last month, we got a call from an assistant from our TD firm saying she could see we cannot afford this payment and advised me to cancel the standing order and she would be putting our file up for complete review. I raised issue of likely extension if payments dropped, but she seemed to think this wouldn't be so. I have to say I wasn't convinced and I'm now in a quandary about whether to cancel SO or not! Can anyone shed any light on this type of situation please?
22/02/2012 11:10 am
Hi Foss and welcome to the forum
Your post sums up the problems with some firms. On one hand it appears good news, but their failure to confirm anything makes it good news/bad news?
If it was me I would do nothing until I had something confirmed in writing as to exactly what their intentions are. Only your trustee can answer this.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/02/2012 11:15 am
Thanks for your reply Mark, I have tried contacting them today but as yet haven't got to speak to anyone about it, I will just have to keep trying.
22/02/2012 11:18 am
Hi Foss
Please ensure it is confirmed in writing.
Regards
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/02/2012 3:35 pm
Hi, just as an update, have now spoken to assistant at TD firm again and she is still saying I should cancel standing order as we are living on benefits only, but when asked about written confirmation of this, she said that is not something that the firm does. When pressed on the matter, she said she would ask trustee, but implied that he probably would not like it! So how do I stand now?
22/02/2012 3:40 pm
It's totally reasonable to ask for some kind of written confirmation of this advice Foss.
Even if it were an email, at least you'd have something to refer back to confirming the detail of the advice that you have received.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
22/02/2012 10:11 pm
Hi Foss, you probably shouldn't be making payments if your sole income is benefits, however, there should not be a problem with getting that in writing as everyone has said. Keep pushing for written confirmation of some kind.
Shona is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
23/02/2012 1:47 pm
Thanks both for your replies, she said she would get back to me, but as yet have heard no more. Don't want to cancel anything until I've got something back, but I think I may have to anyway, as we are running out of options for finding the money each month. I'll let you know how we get on.
23/02/2012 3:45 pm
If the job prospects arent bad then I'd be tempted to try and carry on,even asking for payments to be reduced for a couple of months,to make things easier and then when you get back on track you could maybe pay extra a month to make up the shortfall or extend the TD by a couple of months at the end.
As the others have said,do nothing until you get something to prove whats been said.
Is your trustee suggesting closing the TD? And then what are they proposing you do?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
23/02/2012 9:08 pm
Hi plasticdaft, unfortunately job prospects are not that good, otherwise I would agree with you, but truth is I can't see that things will change very quickly. Trustee hasn't mentioned closing TD just that we should stop paying for now. Do you think they might decide to close it?
