I think that once you have signed you are stuck with them I am afraid. I know of no cases where you could change trustee after the trust deed has commenced.

Hi lord Lucan

Unfortunately no. The only way this could happen would be for the trustee to resign which is maybe unlikely.

The trustee must work within fairly tight guidelines to assess levels of contribution. Also your creditors will provide a final debt figure on their claim form. The original figures are best guesstimates.

Mark

is there not a time when the monthly payment contribution is re-assessed ?

Hi lord lucan

There should be reviews throughout the trust deed. However the key thing to remember is that you need to pay the total amount of contributions agreed by the creditors in the proposal to complete the trust deed ie if you agreed 36 x £250 then you will need to pay £9k into the creditors pot. If the contribution is reduced, then the period would be extended to make up the shortfall.

Mark

Hi lord lucan,

I'm sorry to hear that your having difficulties with your Trust Deed and Trustee.

Why is it that you feel you are paying too much?

As Mark said when assessing and calculating a payment we have to take into consideration expenditure guideline figures. If you feel that you are struggling to afford the payment I would give your relationship manager a call and ask for them to review this. Unfortunately though if there is a reduction then this can mean the extension of your Trust Deed to ingather the original amount which was proposed to creditors as Mark points out.

How long do you have left on your Trust Deed?