Redundancy and Trust Deed

leeper1974

Hi

I'm 1.5 years into a 3 year Protected Trust Deed. I entered it with approx £100,000 in debt, paying £650 a month. I've kept all my payments up to date, sacraficed work bonuses when required etc.

There's a possibility I may be made redundant come the end of the year with a payout roughly around £40,000. I've not run this by by IP yet as I'm unsure what's going to happend but just wanted to get some advice here first.

I'm happy to sacrafice what's needed but given the large sum I'm curious how this will go towards my total (I'm giving back approx £50,000, inc 19000 of my asset in my house when it finishes)

Is this just a "windfall" and I have to give up a huge majority (which is crap for all the 16years I've worked) and just keep the statutory amount?

This again is all just hypothetical, but just wanted some ideas.

Thanks:o

Ineedaname

BUMPety bumping up the board.

gscrym

If you have a look at www.trust-deed.co.uk there'll be someone on there that'll be able to answer your question.