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Topic starter
03/11/2014 3:45 pm
Both my wife and I started a trust deed over a year ago. We recently got £550 back from our gas and electricity company as we switched tariffs, and they were holding the money to pay for our winter bills. I am aware from my documentation that I need to notify them of any money I get over £500. Since we are both in the trust deed and half all the bills then technically we are getting £250 back each - do I still need to notify my trust deed company? Will my monthly payments go up as a result of this because I'm still going to have to pay higher fuel bills over the winter months.
03/11/2014 4:01 pm
Welcome to the forum Knight.
The only person that can provide you with a ruling on this (in light of their interpretation of your arrangement) is your trustee. It's always best to run things like this by them in any case so that you know everything is out in the open and clear for all parties.
It would be interesting to hear what they say.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
03/11/2014 4:40 pm
I'm not sure it's regarded as a windfall as such. I think the Trustee is unlikely to seek this as it's been offset against future bills. The only realistic difference would be if there was a significant change to your gas/elec monthly bills and as such, they may seek an increased contribution.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
03/11/2014 8:33 pm
Hi Knight,
I'd agree with Mark in that I dont think that the Trustee will look at this as its money which was used to pay bills and will be used for future bills.
Best thing to do is run it by your Trustee to avoid any future problems. Whatever they decide make sure you receive it in writing.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
04/11/2014 11:24 am
Thank you very much for the replys. I will do exactly that, keep them informed and get it in writing. K.
