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Topic starter
07/02/2011 6:37 pm
Hi
Just a quick question. This month has been a hard month. My car cost ?ú380 for its MOT due having to have stuff done for the Mot. Last time this happened with hubbys car we had two month payment break. No one said at the time but I take it this two months has to be added to the end of our trust deed. Not spoken to trust deed about my car, just having to cut costs by major budget cuts this month, lucky its only a four week month for me this month but not easy. 3 years is a long time but concerned if things go wrong and we have more payment breaks it could end up adding another 6 months to our trust deed which we don't want to happen. any advice would be great.
x
07/02/2011 6:41 pm
Hi jayne9989
Yes the period of the trust deed would be extended to take account of missed payments.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
07/02/2011 9:26 pm
Hi jayne9989.
Sorry to hear you have been hit with these costs.
Having spoken to our trust deed experts about similar scenarios in the past my understanding is that a payment break in such circumstances will generally be OK, though the Trustee may need to see evidence of the need (for example the repair bill).
Creditors agreed to the trust deed on the basis of the return offered at the start so unfortunately this scenario will generally result in an extension to allow the amount originally determined to be paid over.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
08/02/2011 12:41 pm
Thank you, it clears that up, will have to discuss at next 6 month review with trust deed.
