Trust Deed Forum - Revolut / 0-hour contract / minimal gambling
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 Revolut / 0-hour contract / minimal gambling
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6 Posts

Posted - 27 December 2017 :  10:58:43  Show Profile  Reply with Quote
Hi,

I have been paying my ptd for 7 months (out of 48 months) and I am very satisfied with it for now. I can have my own life back. I hope it will remain the same in the following 41 months as well.

Due to my salary increase (net 120 gbp/month) and a 0-hour cleaning contract I have re-sent my expenditure list to a common mailbox. I have clearly explained that I have no idea about the amount of the extra 0-hour contract. I got response that my payment will increase (based on the salary increase of my main job) which were fine for me.
I have opened a Revolut top-up card where I would like to top up my monthly "rest amount" from my basic bank account.
- Is it possible to having/using a card like that?
- Will my payment increase because of the 0-hour job contract in the next year? (I assume around 140-260 gbp/month - may vary on my monthly hours, 7,50gbp/hr)
- Since I have joined ptd I gambled around 20-25 gbp/month - is there any possible consequences? No winnings of course ...
Thank you for your answer in advance.

TDA (Debt Adviser)
Trust Deed Expert



12136 Posts

Posted - 27 December 2017 :  18:38:02  Show Profile  Reply with Quote
Welcome to the forum questionmark.

I can't see what the issue with using the card account you mention would be. Like any bank account, your trustee may wish to review the transactions.

You will be required to pay over your surplus income. If you begin to earn more but do not pay more into your trust deed at the same time, you may find that a balance owed builds up.

If you choose to spend some (a modest amount) of your allowances allocated for other things on gambling instead I doubt your trustee will be too concerned.

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Edited by - TDA (Debt Adviser) on 27 December 2017 18:38:36
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New Member

6 Posts

Posted - 27 December 2017 :  21:25:19  Show Profile  Reply with Quote
Hi,

Thank you for your response.
1., Revolut card has no statement option in total as a basic bank account. You can get a statement about a transaction only. It works on Android and on iOs platforms so getting a pdf monthly statement is not possible. I do hope my trustee will understand this.
2., Earning on a 0-hour based contract - how my balance owed can be built up? I pay the increased installment as my fix full-time contract pays more. Thats is fair. How Can I pay more based on a 0-hour contract with a various monthly income. I have nothing to hide, I have reported immediatelly to my trustee but did not get any resonse about any future extra installment to TD. I would not like to be punished. I have also been told by my agent (who helped me to join TD) that this extra amount is not standard and not significant to change my monthly installment. What is your advice please? What shall I do to avoid raised and extended payments. I play with open and fair cards as we agreed, I would assume the same. I can finish the 0-hour contract at anytime - if necesarry.
Thank you.
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TDA (Debt Adviser)
Trust Deed Expert



12136 Posts

Posted - 27 December 2017 :  22:53:40  Show Profile  Reply with Quote
The point really is that you're allocated allowances to cover your bills and reasonable expenses.

Anything more than that which you earn may have to be paid over.

So... some people might conclude there's no benefit to them from striving harder to earn extra (from an extra job for example) during a trust deed.

Some time ago this was dealt with more flexibly; earn more and both you and your creditors might benefit from that. The powers that be changed this.

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6 Posts

Posted - 27 December 2017 :  23:05:33  Show Profile  Reply with Quote
Thank you very much for your kind response. I will have review in April 2018 and then we will see but I would be sad if there is not a common way with my trustee.
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Kevin Mapstone
Trust Deed Expert



3418 Posts

Posted - 03 January 2018 :  10:26:20  Show Profile  Reply with Quote
It can be a difficult issue - trying to calculate what the monthly contribution payment should be based on earnings that are not certain. I think the only way that it can be fairly done is by working out a person's average income from previous months and using that as the starting point. This can then be reviewed regularly to ensure that it is still a fair representation of what is actually being earned going forward.

If the 0-hours contract income is being ignored altogether in the initial calculations then at the very least you should expect that your contributions will be increased at your next review to reflect your actual level of earnings.

As Trust Deed Assistant says though, the trustee may take the view that you should have been paying more from the start. One of your obligations is to keep your trustee informed if your circumstances change so they could argue that as soon as you started earning through this 2nd job then you should have informed them. There is therefore a risk that you may be asked to pay extra in future to correct this.

I would recommend you keep your trustee informed of how much you are earning over the next few months. If your payments need to be increased then at least you will know this sooner and not potentially fall into an "arrears" situation.

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6 Posts

Posted - 05 January 2018 :  13:06:15  Show Profile  Reply with Quote
Thank you Kevin.
Reading your lines I do have the feeling that either way but the extra income will be fully paid to TD soon or later. In your opinion is that acceptable if I ask my trustee to prolong my contribution with extra 3-5 months (as much as I have worked as a cover cleaner) Pay dates are NOT on the same days therefore it would turn upside down my bill payments. And if I need to pay all up to TD better to stop working on a 0-hour contract because it will not help on me to pay back earlier at all.
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Kevin Mapstone
Trust Deed Expert



3418 Posts

Posted - 05 January 2018 :  13:40:56  Show Profile  Reply with Quote
I can't see any problem with asking your Trustee to see how your income settles out before increasing the contribution, if that's what you mean.

Obviously it's up to you whether you feel the 2nd job is worth sticking with if it just means having to repay more to your debts. I can perfectly understand that thought process.

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6 Posts

Posted - 17 January 2018 :  20:44:44  Show Profile  Reply with Quote
Hi,
I have informed my trustee about the extra payments (sent payslips as suggested) and now I am under annual review (instead of April 2018). I got my unique link, sorted and categorized the spendings based on my 3 months of bank statements. I am waiting for the call from my trustee. I hope we can negotiate.
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