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Scottish Trust Deed Forum
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Topic starter
03/07/2011 4:53 pm
Hi,
I recently completed my yearly review and submitted my updated expenses. My expenses worked out to be more than when I started my Trust Deed. This was due to moving further from work and therefore having a longer commute (so more petrol expenses etc) and also an increase in gas/electricity. I have been paying £400 a month so far based on my surplus. My surplus this year is down to £270. I submitted the forms to my trustee a few months ago but haven't heard anything back. Should I expect my contributions be reduced or or will they remain at £400 per month?
Topic starter
03/07/2011 5:38 pm
Having read some other posts on here regarding similar situations....it would appear that if I reduced my payments then the term would be extended past the 36 months. I don't want it extended and am managing to pay the agreed contribution so I guess I'll just continue.
03/07/2011 9:06 pm
Hi stevedodge.
There is the risk of an extension, especially if part of the reason for your costs increasing was a decision you made.
As you're managing it may be best to carry on, though the option to discuss a reduction if later necessary will remain.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
