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nics07
Just Joined

2 Posts

Posted - 04 January 2020 :  11:02:14  Show Profile  Reply with Quote
Hey guys, just looking for some additional information.

I recently have been accepted for a protected trust deed, through the company Carrington dean. I was just thinking and looking ahead and wondered what the yearly review entails? I know itís bank statements and payslips but I was wondering how many months they want, and what else do they do during this? I only remember briefly hearing that theyíll want bank letters and payslips but wasnít went into in detail. Thank you for any help!

Nicola

TDA (Debt Adviser)
Trust Deed Expert



13254 Posts

Posted - 04 January 2020 :  12:30:33  Show Profile  Reply with Quote
Welcome to the forum nics07.

Iím sure it will be bank statements and payslips theyíre looking for. Every firm will have their own policy on the period required. Someone reading may be able to share their experience with this firm, or you could contact the firm to check.

Things change over time, so the review is there to check your payment remains affordable for you and fair to your creditors.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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nics07
Just Joined

2 Posts

Posted - 04 January 2020 :  13:09:02  Show Profile  Reply with Quote
Thank you for your reply. I just didnít want to bother the company with a question that maybe seems trivial. Iím just on overthinker so was trying to prepare and work things out In my own mind.

Thank you again.
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TDA (Debt Adviser)
Trust Deed Expert



13254 Posts

Posted - 05 January 2020 :  16:30:30  Show Profile  Reply with Quote
Hi nics07.

Your trustee will be pleased to know you want to be ready to complete your review when itís due.

Iíd suggest giving them a quick call or email so that you can feel prepared.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Paul McDougall
Trust Deed Expert



41 Posts

Posted - 06 January 2020 :  08:10:53  Show Profile  Reply with Quote
Morning Nics07

Don't worry about contacting your trustee. They are there to help and assist. It is a common question that is asked.

As TDA has stated, a yearly review is to ensure your payments have been set correctly and will most likely ask for some sort of evidence such as payslips and bank statements.

Its fairly routine and nothing to worry about.

p

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
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David Tannock
Trust Deed Expert



2323 Posts

Posted - 06 January 2020 :  12:04:29  Show Profile  Reply with Quote
Hi nics07 and welcome to the forum.

Well done on taking the positive step to enter into a Trust Deed and deal with the debts that you have. Are you feeling more positive about things now?

As advisors we love clients who engage with us, ask questions and want to be as prepared as possible for the next 4 years. It can make our job that little bit easier.

Remember we are here to help as much as you need so never feel bad about asking your Trustee a question. A quick email, message or phone call can put your mind at easy!

As TDA and Paul have pointed out a 6 monthly or yearly review is carried out. This is a nice simple income and expenditure form and can ask for payslips and bank statements the same as the start of the Trust Deed.

Once itís received by your Trustee they will review this and then be in touch if they have any questions. This could be a change to a bill, an increase in income or something you have maybe forgotten to add to the form.

Hereís to a nice straight forward 4 year Trust Deed for you!

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
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