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Trust Deed Questions?
sharalee99
Posts: 639 Forumite
Hi all
Hope you can help.
I have a Scottish Trust Deed which is the same as an IVA basically.
It is for 3 years. The 3 years are up in May, which in theory, is when I should make my last payment. Whilst paying my dues, I took a better but lower paid job. My trustees allowed me to reduce my payments each month whilst on the probation period at work, after which the wages went up, and my payments to trustee went back to what they were. Also, 6 months ago, I married and my husband moved in with me.
I know trustee will probably extend my deed, will it just be for 6 months to cover the 6 months I made lower payments? And will the amount be just the shortfall for those 6 months?
My husband has nothing to do with my debt, I didn't even know him then, so I am reluctant to put his details down on the latest income/expenditure.(Why should he be liable for something that has nothing to do with him) He does know about all of this, and he just tells me not to worry. Though we now live together, my disposable income has not changed.
I am worried about this, and am wondering if anyone can give any advice at all?
I also apologise for the long winded story.
Thank you for reading
Hope you can help.
I have a Scottish Trust Deed which is the same as an IVA basically.
It is for 3 years. The 3 years are up in May, which in theory, is when I should make my last payment. Whilst paying my dues, I took a better but lower paid job. My trustees allowed me to reduce my payments each month whilst on the probation period at work, after which the wages went up, and my payments to trustee went back to what they were. Also, 6 months ago, I married and my husband moved in with me.
I know trustee will probably extend my deed, will it just be for 6 months to cover the 6 months I made lower payments? And will the amount be just the shortfall for those 6 months?
My husband has nothing to do with my debt, I didn't even know him then, so I am reluctant to put his details down on the latest income/expenditure.(Why should he be liable for something that has nothing to do with him) He does know about all of this, and he just tells me not to worry. Though we now live together, my disposable income has not changed.
I am worried about this, and am wondering if anyone can give any advice at all?
I also apologise for the long winded story.
Thank you for reading
0
Comments
-
Bumping for you.
Your OHs income is his own. You will need to declare his contribution to the household though.
As to if your deed will be extended, I really don't know but you should call your trustee office and ask them. (In England/Wales it wouldn't)0 -
Thanks.
Just in case anyone else reads this, I have just spoken to a chap from Scottish Trust Deeds free helpline. Nice man, seems to know what he's on about. Number is 0800 043 7201.
Am going to phone my trustee today!
And yes, my deed will be extended. But with a deed, the amount you pay in is agreed at the beginning, so all I should have to pay, is the shortfall that I didn't pay for the 6 months to bring the amount up to what it should be.
I have been up half the night worrying about this...I thought once I signed up the worrying was over. Silly me!0
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