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SunnyM
Advanced Contributor

65 Posts

Posted - 28 January 2020 :  20:56:51  Show Profile  Reply with Quote
Iíve just read in a post you should advise your TDA if circumstances change re finances. Iíve stopped paying NI contributions as I reached retirement age but have not advised TDA. This is not intentional and I have had to pay more into our bills account so itís not as if Iím living the high life. Will this have a detrimental effect on my TD? Itís due to end this September/October.

TDA (Debt Adviser)
Trust Deed Expert



13293 Posts

Posted - 29 January 2020 :  07:50:14  Show Profile  Reply with Quote
Hi SunnyM.

I very much doubt that this is going to cause a major problem for you.

You should contact your trustee to tell them about your increased income and also any increases to your bills. They should reassess your contribution based upon this information. The contribution will still be based upon a calculation of affordability.

I'm not sure how long it's been since you benefited from this extra income, but I guess it's possible that some "arrears" might have built up if it's been a while. This is most commonly dealt with by extending a trust deed to enable that money to be gathered in before you're discharged.


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Paul McDougall
Trust Deed Expert



48 Posts

Posted - 29 January 2020 :  10:12:13  Show Profile  Reply with Quote
Hi Sunny

this sounds like an honest mistake rather than an intentional one.

As TDA has advised, give your trustee a call and explain the position and they will work with you to resolve the issue.

P

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SunnyM
Advanced Contributor

65 Posts

Posted - 29 January 2020 :  14:39:35  Show Profile  Reply with Quote
Thanks to TDA and Paul for advice. Will contact my TDA today and explain situation. Here's hoping no extra months will be added on.
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TDA (Debt Adviser)
Trust Deed Expert



13293 Posts

Posted - 29 January 2020 :  17:44:10  Show Profile  Reply with Quote
No problem SunnyM.

Hopefully this will not turn into a major problem. Please let us know how you get on.

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