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Abi
New Member

6 Posts

Posted - 16 June 2022 :  18:11:44  Show Profile  Reply with Quote
Hi guys,
Just a random question. Is there a maximum amount you can pay towards your trustdeed? For example is it capped at say £500 or could you pay £1000 if itís affordable? Itís just a question in theory! Also, Iím looking at a job with the possibility of uncapped commission. The trust deed is in my husbands name and obviously commission isnít guaranteed so would I be allowed to keep any commission?
Thanks :)

TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 17 June 2022 :  09:39:49  Show Profile  Reply with Quote
Hi Abi,

There isn't a maximimum amount. The payment is always based upon an affordability calculation, with a trust deed user's calculated disposable income being due to be paid over.

If you're not in a trust deed then your personal disposable income can be spent as you wish.

One possible implication however is that the trustee might think it's reasonable that you cover more of the household bills if your income increases a lot, which could have the effect of increasing your husband's disposable income.

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Abi
New Member

6 Posts

Posted - 17 June 2022 :  09:46:11  Show Profile  Reply with Quote
Thank you for your reply.
When I rang up last time they said we had to calculate everything based on household income so I had to give over how much I earn, is that correct? And if so, what would happen to commission? Do I have to give them bank statements and payslips or can we just say that we will split the household bills 50/50? If I get this job my husband will still earn more than me.
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TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 17 June 2022 :  10:04:37  Show Profile  Reply with Quote
Hi Abi,

The best way to calculate a person's disposable income is to start by calculating the household's disposable income. This means taking into account your circumstances as well as your husband's. The reason for this is so that a reasonable and proportionate amount of your joint household expenditure can be allocated to your husband.

This doesn't necessarily mean a 50/50 split of bills if one of you is earning more than the other. The higher earner might be allocated more than 50% of this joint spending.

I doubt that they could require you to hand over bank statements or payslips as you're not personally in a trust deed. There again, everything might work a little more smoothly and accurately if you did.




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Kevin Mapstone
Trust Deed Expert



4111 Posts

Posted - 17 June 2022 :  12:38:38  Show Profile  Reply with Quote
Hi Abi.

Your trustee's husband can't make you share your income details with them and you don't have to if you would rather not. They would then just need to assess his contributions based on his income only, after a reasonable contribution to household costs (usually 50:50)

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