Trust Deed Additional Income Help 18 June 2022 at 9:09AM in Bankruptcy & living with it 2 replies 72 views

Ridgewalker

Approaching the end, just 6 months to go and my employer is making me sign a new contract with less pay and benefits. As a sweetener they will give a one time cash payment. As I'm still in my trust deed this will show on my payslips and as a result be taken as extra income by my trustee.

My wages will be reduced for ever so yeah I'll get a few thousand in the short term which I'll lose to the plan and end up losing tens of thousands more over time to drop in wages.

My question is will the trustee take the extra income?

luvchocolate

I take it you're in Scotland?

sourcrates

How much is the sweetener going to be ?

Is it enough to clear your debts ?

If it is, you could offer the money in full and final settlement of your trust deed, using the fact that your income has dropped as reason why they should accept, might as well make these situations work to your benefit if possible.

However much it is, you are obligated to inform your AIB about it, as per the terms and conditions of your arrangement.