Notifications
Clear all
Topic starter
12/05/2009 11:16 am
I had an agreement then my wages went up and monthly trust deed payments went up accordingly. Now my wage has gone down and my trustee does not seem to be acting, I call the office and have supplied evidence and a nice woman advises she will speak to the trustee to see what can be done but as of yet the monthly payments are not going down and I am quite far under what we agreed I need to live on. Can I force them into action on this?
Also, can I have this trust deed bought out by a family member?
Thanks in advance.
Topic starter
13/05/2009 10:42 am
It's been a month and a half but my payments are now reflecting my cut in wage thank god, I thought I was going to have to live like this till October when the next review was due.
If anyone knows the possibility of a 3rd party being permitted to buy out my trust deed I would be grateful to hear.
13/05/2009 4:41 pm
Hi Wull
I would send a recorded delivery letter to the IP advising of the position and state that you will take matters further unless the position is re reviewed and the contribution re assessed due to the drop in income.
I seeno reason why a 3rd party could not pay the Trust Deed early, although they would require to show the origin of the funds.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
13/05/2009 6:39 pm
Thankyou.
Is there a formula that would be used to determine how much it would cost to buy my Trustdeed out or would it involve the sum of all the debt at the time of signing the trustdeed to be paid?
13/05/2009 9:54 pm
Hi Wull
Generally it would be the agreed contribution x 36 less what has already been paid to date.
Regards
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/05/2009 9:19 am
Thanks again.
