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Just Joined

2 Posts

Posted - 24 March 2020 :  08:13:41  Show Profile  Reply with Quote
Hi everyone, went into a protected trust deed last october , had already paid 300 towsrds a holiday at the time , continued to pay the holiday until January this year by cutting back on my budget , unfortunately holiday was cancelled on the day of departure due to coronavirus and 800 was refunded to my bank account before I gotbthe option of amending my holiday , been advised by my trustee that the refund will go to my trust deed , can they do this as the money was originally saved up

TDA (Debt Adviser)
Trust Deed Expert

13311 Posts

Posted - 24 March 2020 :  13:22:30  Show Profile  Reply with Quote
Welcome to the forum Chris16001.

This is one of those situations where a trustee has to use their discretion about what's fair to your creditors.

I take your point about cutting back on spending to make this holiday possible. I can see why it might feel unfair to you because of this.

Equally however, you've now received 800 in your bank account that you didn't expect and that (probably) isn't needed to cover your current essential bills and expenses. It's basically a windfall that could be used to help repay your debts.

All you can really do is put your argument to your trustee and see if they'll be flexible in any way.

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

2 Posts

Posted - 24 March 2020 :  17:10:19  Show Profile  Reply with Quote
Thank you for your reply I have emailed my trustee this afternoon as jet2 have said thatcthey didnt mean to refund it as it was supposed to be carried over to the amended dates next year
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David Tannock
Trust Deed Expert

2382 Posts

Posted - 25 March 2020 :  12:37:39  Show Profile  Reply with Quote
Hi Chris16001,

It's a bit of a tricky situation and something with individual Trustees will take a view on.

My own view is that people still need to live and have a lift or else people lose a little hope. It's about finding a balance and if you are able to cut back on certain items to be able to afford a break from all the stress and worry then it should be considered.

The other side of the argument is that you owe creditors money and should try and repay this as much as possible.

I would point out that on the income and expenditure statement we use there is a section for "hobbies,/leisure/sport (including pub outings etc." so you could argue that a holiday comes under this category. As long as your spending doesn't exceed the maximum allowance there shouldn't be an issue.

Once you have reached out to your Trustee let us know how you get on.

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