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Topic starter
04/04/2014 7:16 pm
Hi have just received a large wage increase. I am aware I should inform the trustee, however I'm am worried that they will increase my contributions further. Has anyone had any experience of this?
Thanks in advance!
04/04/2014 10:03 pm
Hi weewillamena.
I'm afraid your payment probably will go up unless your reasonable expenditure has increased to the same degree.
Be sure to tell your trustee soon. A delay is only likely to result in the creation of arrears and an extension to your trust deed.
Your payment is based upon affordability which means it can and will change in line with your circumstances.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/04/2014 8:59 am
If you have received a large wage increase then it is only fair that your trustee should look at whether you can afford to contribute more.
Do you think you have been paying an unreasonably high amount before now? If so then at do make sure you also tell your trustee about any increases in your outgoings too.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
07/04/2014 10:10 am
Hi weewillamena,
Well done on receiving a large wage increase. Any kind of wage increase in society nowadays is a positive thing.
If you have had a change in circumstances and a wage increase then you may be required to increase your contributions to your Trust Deed for the remaining period of your Trust Deed.
It shouldn't be a case of for example you receive an extra £300 per month and the Trustee decides to take all of this and increase your payment by £300 per month. A review of your income and expenditure should be completed with you and then from this you can both agree on an amount that your payments will increase by.
How long do you have left on your Trust Deed?
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