Hi footydave,

It is possible that your trust deed would be converted into a sequestration as you would be choosing to break the terms of your trust deed agreement. Having said that, it would be up to your trustee (or probably your creditors as your trustee would probably consult with them). They cannot stop you from taking the job if you wish, and may agree to continue with reduced payments rather than sequestration though perhaps they will require you to extend the term of the trust deed to compensate.
How long have you been in your trust deed? It would be a shame to be sequestrated if you are near the end as you'd probably have 3 more years of payments to make in a sequestration.

Hope this helps

Kevin

Hi Kevin

Thanks for that.

I am only about 8 months into my Trust Deed.
If I did take the job and they wasn't prepared to let me make reduced contributions.
Off hand, how much do you think I would pay if it went into a sequestration? I take it, it would be far less than in a Trust Deed?

Another thing if you can help. Is it true that whilst in a Trust Deed I am not allowed to apply for a mobile phone contract? I have one already, but was looking at an alternative to my current one!

The contribution payments in a sequestration are whatever you can reasonably afford from your income each month, so they would go through your oncome and outgoings, much the same as in a trust deed.

There is nothing to stop you applying for a mobile phone contract - the only consideration would be the cost and whether it was affordable I suppose.