Work hours changed!

lilacclaire

I have just started paying into a trust deed (1 payment). I thought I was going to lose my job, but my hours have been reduced to 16 instead from 35, better than nothing though.

I really don't think I am going to be able to afford this trust deed anymore and am not sure what to do, I am so fed up with worrying about this and would appreciate some advice.

I was thinking to let the trust deed fail and apply for LILA myself or any other suggestions?

Anondebtadvisor

If your circumstances change and it is through no fault of your own your trustee should not deny you discharge form your Trust deed, if that change results in you being unable to make payments.

If you meet the LILA criteria - it may be an option but only after you have been discharged from your Trust deed

lilacclaire

Thanks, yes I do qualify for LILA.
How do you mean discharged from the trust deed?
Do I let it fail by not making payments for 3 months, or can they do something to speed up the process?

Anondebtadvisor

If you miss payments due to being unable to pay due to a change in circumstances beyond your control then your Trustee should discharge you from the Trust deed and then you can apply for LILA.

You cannot apply for LILA while the trust deed is in place and just because you miss payments doesnt mean the trust deed will automatically fail - the trustee needs to discharge you and themselves from the trust deed obligations.

You may need to push them a bit, which firm are you with?

Hope that makes sense? x

lilacclaire

Thanks for replying.

Yes what you said makes perfect sense.

The firm is Wilson Andrews, guess I better give them a call !

lilacclaire

Well I phoned them and they're not very happy, my car had blown up which cost me about £200 in total to get it recovered and home and I had to borrow the money so I said I would be able to make payment this month, I have to send them in copy receipts etc which is no problem.

Then when I told them about my work hours, well lets just say very annoyed doesn't cover it!

Life seems a bit of a shambles just now, but im sure i'll get through it!!

fcwalker

I'm in a similar situation. My Trust Deed provider wants me to increase my contributions but I cannot afford to. I'm regularly having to borrow money from my parents just to buy food. I'm finding the demanding letters from my trust deed provider nearly as bad as those I got from banks

fcwalker

What is LILA?

Anondebtadvisor

Annoyed?? they are supposed to support and help not give you grief.....

It is what is it... wait and see what they come back with and let us know?

LILA is low income low asset sequestration