Trust Deed Forum - Info required, thanks
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
 Info required, thanks
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

tigh
Frequent Contributor

38 Posts

Posted - 10 June 2022 :  00:36:03  Show Profile  Reply with Quote
Hi
We are both discharged Sequestrations, but are still paying towards the end of our 4 years (we have approx 1.5 years to go). My partner had an accident at work and is going to be off sick for a few weeks, and is only paid SSP from their employer, so they are losing approx £350 + pw in wages. I haven't worked for a number of years due to ill health, and receive ESA (conts based), and PIP, along with a small works pension. Our monthly payments are substantial, and I'm unsure what will happen because of loss of earnings. On contacting our Trustee, we've been told our payments will be calculated taking into account partners SSP payment, but it sounded like my payment would remain unchanged. Have I picked up on this correctly or not, or is there a possibility my monthly payment will change too?

Any help appreciated

TDA (Debt Adviser)
Trust Deed Expert



13963 Posts

Posted - 10 June 2022 :  09:14:33  Show Profile  Reply with Quote
Hi tigh,

One of the benefits of bankruptcy is that if your payment has to reduce, or if you become unable to pay anything at all, this will not interrrupt the successful conclusion of the process.

I don't know exactly how your trustee will apportion your joint bills and exepenses based upon the reduction of your partner's disposable income. However, your individual monthly payments certainly shouldn't add up to more than your new and reduced joint disposable income.

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

Kevin Mapstone
Trust Deed Expert



4100 Posts

Posted - 10 June 2022 :  11:28:34  Show Profile  Reply with Quote
Hi Tigh. Can I just check - you are not being asked to contribute more than the amount you are receiving from your works pension are you? You certainly shouldn't be, as it is only non-benefit income that can be required to be paid.

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

tigh
Frequent Contributor

38 Posts

Posted - 10 June 2022 :  12:12:42  Show Profile  Reply with Quote
Thanks for your quick responses.
Kevin, my payment is £100 per month less than my works pension, but with my partner now being on SSP their income has been reduced considerably, until they return to work. So, obviously our overall income is greatly reduced because of this.
Go to Top of Page

Kevin Mapstone
Trust Deed Expert



4100 Posts

Posted - 10 June 2022 :  15:22:35  Show Profile  Reply with Quote
OK that's fine then. I would expect that your payment would be reduced too, though it might depend on what basis they worked it out in the first place.

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

tigh
Frequent Contributor

38 Posts

Posted - 11 June 2022 :  12:42:23  Show Profile  Reply with Quote
Thanks for the information Kevin. We have not had any change in circumstances since beginning this process at the end of 2019. In fact, even although our outgoings have increased (like everyone elses because of cost of living), we have still remained paying the same amount every month. I suppose I will now have to wait until I hear from our Trustee, about how much we need to pay going forward until partner is fit to return to work.
Go to Top of Page

tigh
Frequent Contributor

38 Posts

Posted - 27 June 2022 :  17:44:24  Show Profile  Reply with Quote
Hi,
Further to my earlier postings this month. I have submitted a wage slip for my partners SSP, and copies of sick notes, which now cover until mid July, but I havenít heard anything from our trustee with regards to how much the payments will be (itís due on 8 July). Is this normal, and does it take weeks to work out the payment when a change in circumstances like this happens. I have sent a few emails, but have heard nothing, and Iím now becoming anxious not knowing what we need to pay this month.
Can anyone give any advice?
Go to Top of Page

Kevin Mapstone
Trust Deed Expert



4100 Posts

Posted - 27 June 2022 :  18:14:57  Show Profile  Reply with Quote
Hi Tigh. I imagine the firm dealing with your sequestrations is handling a lot of requests just now regarding contribution levels, given how much the rise in the cost of living is impacting everyone. Perhaps they have hit a bit of a backlog in dealing with them.

Maybe a quick call to them detailing your concerns might help shuffle you to the top of their pile? Or they may suggest a temporary solution until they get to your cases, such as a suspension on your contributions until they can be recalculated.

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

1985debt
Frequent Contributor

32 Posts

Posted - 28 June 2022 :  11:56:03  Show Profile  Reply with Quote
Sorry to hijack thread but I have on paper a good wage but the cost of living is crippling me and my partner but how much room would I have to stand on to ask about a reduction in contributions ?
Go to Top of Page

Kevin Mapstone
Trust Deed Expert



4100 Posts

Posted - 28 June 2022 :  17:09:05  Show Profile  Reply with Quote
No harm in asking, 1985debt. If you can show that the contributions you are being asked for a not affordable due to a change in your circumstances beyond your control (ie rise in the cost of living) then the trustee should reduce your payments accordingly - though there are guidelines as to what is seen as reasonable living costs, which they will take into account in any decision they make.

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 - 2022 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, c/o Bright Oak Ltd, Cardiff House, Priority Business Park, Barry, CF63 2AW. Tel: 0141 2490416.