Welcome to the trust deed forum lauraa.

Your budget is going to be limited during your trust deed to help ensure that your creditors receive a percentage of what is owed to them that they will accept. I am glad that you are finding it to be manageable though.

If a major item of your expenses such as your rent reduces it is quite likely that your trustee will request that your payment increases I'm afraid.

You could call your trust deed firm to run it by them in advance if you wish so that you know where you stand.

Hi Lauraa, I am 8 payments in and feel like I have hit a wall this month! Whilst this is without a doubt the best desision for us as a family and for the long term , the budget constraints have hit hard ... Maybe it's because schools are off there is additional demands ,and of course whatever life throws which feels a bit like a avalanche at the moment! I know there is a end point and no one said this would be easy ,and indeed it shouldnt be ! Think I've just had a massive touch of reality bites!

It is very hard at times during a trust deed to get through to the next pay day,we seemed to spend 18 months without being able to put anything away for emergencies.

Maybe you should discuss a review of your income and expenditure with your firm and let them know of your plan to change housing. Maybe some middle ground could be found.

Paul

Hey Cal,

We're still awaiting protection of our TD (3 weeks on Friday hopefully) but have been practising with the new budget for almost two months now before our TD payments actually start and I can completely sympathise with you comment about "whatever life throws which feels a bit like a avalanche at the moment". This month alone we've had to fork out an unexpected £320+ for car repairs and now awaiting a boiler repair (no heating or hot water [:(]) at £216 !! We certainly couldn't cope with that once the TD payments start.

In the process of insuring as much as we can for as little as we can to protect us from an impossible bill over the next few years even if it does put a little strain on the monthly budget!

After doing all the work and going down the TD route, we have learned very quickly to get financially smarter! Shutting the stable door after the horse has bolted perhaps, but you've gotta learn sometime.

Collywobbles

Hello collywobbles and welcome.

It does sound like you're getting a lot thrown at you right now. Best wishes for the next few weeks and please let us know how it all goes.

Remember to talk to your case manager if any unexpected costs arise, you may find a payment break suitable or they may allow a larger than agreed portion of overtime pay to be kept to cover the blips that hit us all during a trust deed.

Even a few months after our last payment we are still repairing or replacing things that broke during the trust deed. Our gas hob has only had 2 working burners for over 2 years now!!!

The british gas cover for boiler repair and appliances etc is worth a look at especially if creditors allow it as an expense. Its also worth checking local recycling places although that wont be to everyones tastes!!

Paul