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Scottspark
New Member

5 Posts

Posted - 18 September 2019 :  06:09:54  Show Profile  Reply with Quote
Iam just about to send my annual review. I had major car works which my wife paid on her credit card and I set up a direct debit to pay £100 a month to the card which shows in my statements. Should I be worried about it. The payment has now finished. Thank you

TDA (Debt Adviser)
Trust Deed Expert



13102 Posts

Posted - 18 September 2019 :  09:11:02  Show Profile  Reply with Quote
Welcome to the forum Scottspark.

I'm not sure you have anything to worry about with this. It sounds like you just did what you needed to do, as a couple, to keep your car on the road.

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David Tannock
Trust Deed Expert



2239 Posts

Posted - 18 September 2019 :  09:43:48  Show Profile  Reply with Quote
Hi Scottspark and welcome.

If it didnít impact on your Trust Deed payment then I see no problem with it so donít worry.

Things like this come up over the course of a Trust Deed and as TDA advised it sounds like you did what needed.

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Scottspark
New Member

5 Posts

Posted - 18 September 2019 :  09:47:51  Show Profile  Reply with Quote
Thank you. Yes I phone up and got the same response was so worried. Thanks for the reply
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David Tannock
Trust Deed Expert



2239 Posts

Posted - 18 September 2019 :  10:00:26  Show Profile  Reply with Quote
Glad to hear itís worked out ok and there isnít any issues which there shouldnít have been.

There needs to be some flexibility and understanding when it comes to Trust Deedís as things change over a 4 year period. Life can sometimes get in the way and even with the best planning and budgeting things can always come up.

How have you found the Trust Deed up until now, is it something you would encourage people to think about if they are struggling with debts?

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Scottspark
New Member

5 Posts

Posted - 18 September 2019 :  10:10:05  Show Profile  Reply with Quote
For myself It has helped me out loads. I was always spending on credit cards and going into my overdraft. I took the decision a year ago and it has been a god send. I can actually save money for the first time in I dont know how many years.
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David Tannock
Trust Deed Expert



2239 Posts

Posted - 18 September 2019 :  10:39:55  Show Profile  Reply with Quote
Thatís really positive to hear that itís been a good decision to enter into one. Thanks for sharing that as Iím sure it will give other people the confidence that a Trust Deed can make a big difference to them financially.

Before you know it you will be coming to the end of your 4 years and you will be back onto the forum to let us know you have successfully completed it.

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Scottspark
New Member

5 Posts

Posted - 19 September 2019 :  13:18:25  Show Profile  Reply with Quote
While in a trust deed if you have savings will this affect the review in terms if having to pay more each month. Thanks
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TDA (Debt Adviser)
Trust Deed Expert



13102 Posts

Posted - 19 September 2019 :  13:37:03  Show Profile  Reply with Quote
Not if it's modest amounts Scottspark.

It makes perfect sense to set aside some money every month to cover irregular expenses.

If the savings built up because your income had increased, or your bills had gone down, that might be different.

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Scottspark
New Member

5 Posts

Posted - 19 September 2019 :  13:45:12  Show Profile  Reply with Quote
Hi thanks. No my wages are the same and my Bill's around the same aswell, iam just so nervous as this is my first review and dint know what to expect. Our joint account closed when I signed the trust deed so my wife took control of the major Bill's from her account which I transfer into. Will I need to send her bank statement aswell. Thanks again
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TDA (Debt Adviser)
Trust Deed Expert



13102 Posts

Posted - 19 September 2019 :  14:13:59  Show Profile  Reply with Quote
Hi again.

It's probably best to check directly with your trustee what documentation they'll need.

Firms go about this in slightly different ways.

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