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Abi
Just Joined

2 Posts

Posted - 04 May 2022 :  18:27:21  Show Profile  Reply with Quote
Hi guys,

The trustdeed that my husband has is in his name however we share a house together (mortgaged). I am looking for new jobs as Im finding it difficult to perform my current role due to my health. I have applied for a job that is more money than Im currently earning and Im wondering if this will effect the trustdeed? Can they make us pay more because Im earning more? Even though the trustdeed is in his name? What are my options?

Thanks
Abi

TDA (Debt Adviser)
Trust Deed Expert



13939 Posts

Posted - 04 May 2022 :  20:43:56  Show Profile  Reply with Quote
Welcome to the trust deed forum Abi.

The starting point is that you have no liability for your husband's debts. His contribution to his trust deed is based upon his disposable income.

Where this can get a little tricky is apportioning joint household bills and expenses. For example, if one person earned much more than the other then it might be reasonable to expect them to pick up more than half of the household bills.

So in theory if your income increased substantially, it might be reasonable to expect you to pick up more of these joint household expenses. In this scenario the effect would be (on paper) that the other person's expenses had reduced and therefore they could afford to pay more into their trust deed.

I think the best thing to do would be for your husband to disclose any such change to his trustee in the event that it happens. If the change isn't huge it probably isn't going to make a large difference to his monthly payment.

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Edited by - TDA (Debt Adviser) on 04 May 2022 20:44:44
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Abi
Just Joined

2 Posts

Posted - 04 May 2022 :  20:57:32  Show Profile  Reply with Quote
Thank you for your reply. Can they legally make us pay more? We would roughly get an extra 680 a month however were struggling to live based on what they have allocated to us especially with my illness being unpredictable I take quite a few sick days which in turn means less money. Would there be any way around it?
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TDA (Debt Adviser)
Trust Deed Expert



13939 Posts

Posted - 05 May 2022 :  09:06:47  Show Profile  Reply with Quote
Hi Abi,

When your husband signed his trust deed he committed to paying what he could reasonably be seen to afford towards his debts. This is part of the basis under which his creditors accepted the trust deed (and the likelihood of writing off some of what he owes).

So a significant increase in your income might be relevant. Equally, you might want to keep evidence of any reduction in your income due to sick days and/or any increases in your joint household bills and expenses.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Kevin Mapstone
Trust Deed Expert



4080 Posts

Posted - 05 May 2022 :  13:52:16  Show Profile  Reply with Quote
quote:
[i]Originally posted by Abi[/i]
[br]Thank you for your reply. Can they legally make us pay more? We would roughly get an extra 680 a month however were struggling to live based on what they have allocated to us especially with my illness being unpredictable I take quite a few sick days which in turn means less money. Would there be any way around it?


The thing is, if the payment is increased they are not making you pay more, they are making him pay more. So yes, if the fact that your income has increased means that you should reasonably be expected to pay a higher share of the household bills, meaning your husband can afford to pay more, then they could legally do this.

It gets a bit complicated, to be honest, but a lot might depend on how your husband's trustee was allocating the household bills between you previously.

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