Trust Deed Forum - Trust deed protected.... I am on benefits now
Trust-Deed.co.uk
Home Home Page







Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 Trust deed protected.... I am on benefits now
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

jackie1001
Just Joined

2 Posts

Posted - 15 August 2021 :  15:19:12  Show Profile  Reply with Quote
Hello,

My trust deed is protected and started 2 years ago.
I am in the middle of the trust deed journey and my circumstances got changed. I lost job and i am on Disability benefits, Employment support benefits. my trustee does not want to take payments from me because I am unemployed and I am on state benefits. I do not have any other income apart from state benefits now. My employment situation is unlikely improved in the next 5 years as my disability, health condition is very severe, therefore I was getting disability benefits at high enhanced rate.
What will happen to me my trust deed as I completed only 24 months.
As my trusteed does not take payments directly from me because these are state benefits (not my income), I am worried that my trustee may terminate the trust deed or trust deed fails in near future.
Here situation is, I am willing to make payments but my trustee refused to take payments. What is the best solution for present situation?
Before such situation arises, can i transfer the same payment amount to my friends/family members and let my friends/family members forward thee same payment amount to trustee in order not to fail trust deed. Do you think trustee accepts the same?
Any other thoughts. thanks

Kind Regards,
Jackie

TDA (Debt Adviser)
Trust Deed Expert



13799 Posts

Posted - 16 August 2021 :  09:29:02  Show Profile  Reply with Quote
Welcome to the trust deed forum jackie1001.

I'm very sorry to hear that you have suffered all of this disruption.

Your trustee isn't allowed to collect payments from you that are funded by benefits.

It's quite possible that there will not be any negative consequences if your financial situation has changed through no fault of your own. I'd suggest that you contact them and ask them directly where things are likely to go from here. Hopefully you'll receive an encouraging response.

You should certainly make contact with the trustee before trying to arrange a convoluted trust deed payment funded by your benefits via your family. This is money you'll very likely need for other things, which is the reason that a trustee isn't allowed to gather it into a trust deed in the first place.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Paul McDougall
Trust Deed Expert



126 Posts

Posted - 23 August 2021 :  11:02:53  Show Profile  Reply with Quote
Morning

AS TDA has advised, the Trustee is unable to take payments from benefits.

Your Trustee will explore options and will ask whether a third party is able to make a payment on your behalf. However there is not the expectation these funds have been paid to the third party from yourself.

As TDA recommends, please speak to your Trustee to work on the way forward.

Hope this helps.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
Go to Top of Page

jackie1001
Just Joined

2 Posts

Posted - 23 August 2021 :  11:05:55  Show Profile  Reply with Quote
Thank you, I will talk to Trustee.
Go to Top of Page

Paul McDougall
Trust Deed Expert



126 Posts

Posted - 23 August 2021 :  11:07:10  Show Profile  Reply with Quote
Please keep us posted as your situation is very common.


Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2021 www.trust-deed.co.uk Go To Top Of Page
Snitz Forums 2000

(c) Bright Oak Limited. Company Number: 06774006. Data Protection Registration: Z1657982.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority.
Trust-Deed.co.uk, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.