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Nicci_36
Regular Contributor

18 Posts

Posted - 01 May 2022 :  19:01:51  Show Profile  Reply with Quote
Hi #128075;#127995;

I am a bit confused as my income & expenditure has been worked out by my trustee after sending 3 months bank statements one including a bonus (as I get a bonus every quarter but it isnít always the same as it is based on performance). My monthly take home pay is showing as follows £1055 wage, universal credit £870 & child benefit £91 totally £2016 however on a normal month where I donít get a bonus my wage is £956, universal credit £942 & child benefit £91 totally £1981 The month where I get a bonus my wage would increase to say £1116 based on my last bonus I got but my universal credit would stay the same including child benefit would total £2149 typical bonus month but the month after my universal credit would go to £870 or less again depending on my bonus amount for previous month. So technically getting a bonus doesnít really benefit me. So my question is is my wage & universal credit amountís shown on my income & expenditure for my monthly income correct or do I need to advise my trustee it isnít? Also do I need to give my whole bonus amount to them or just the amount over my total monthly income amount they have for me £2016. Iím so confused #128528; & worried when it comes to my first review I wonít be able to get the figures correct.

Nicci_36
Regular Contributor

18 Posts

Posted - 01 May 2022 :  19:21:51  Show Profile  Reply with Quote
Sorry the next again month after I get a bonus my universal credit would be £810 making that month including wage & child benefit £1856. Do I need to tell trust deed about my bonus or can I leave it as it affects my income the next month? Looking at the figures I think they have put in an average for me but it all confuses me tbh! Your help would be appreciated
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TDA (Debt Adviser)
Trust Deed Expert



13939 Posts

Posted - 02 May 2022 :  18:09:21  Show Profile  Reply with Quote
Hi Nicci_36,

I think you'll need to ask them how they're calculating this figure. I'd just be guessing I'm afraid.

You should cetainly make your trustee aware of your bonuses as an overall increase in your disposable income will need to be reflected in your payments into your trust deed.

You should also make them aware of the knock-on effect to your universal credit the following month, which presumably cancels out some of the benefit of receiving a bonus.


Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Nicci_36
Regular Contributor

18 Posts

Posted - 02 May 2022 :  19:17:15  Show Profile  Reply with Quote
Thank you. I will check with them tomorrow
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