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Marieh38
Regular Contributor

23 Posts

Posted - 04 August 2018 :  12:33:21  Show Profile  Reply with Quote
I recieved an income and expenditure form this morning from pinnacle insolvency after a long drawn out trust deed I have one payment left which is due to be paid on the 28th of this month .My trust deed began in October 2013 in September 2014 my income changed meaning I no longer had the amount of disposable income as when it started . I informed knightbridge of this after a few weeks of sending bank statements and wages slips I was ingormed to make token payments of 20 pound which I did . After the 4 months I the was told I had to pay full contribution of 214.00 which I obviously didnít have . I asked them to fail my trust deed to allow me to apply for bankruptcy but heard nothing until September 2016 just before trust deed should have finish when the sent an attachment of earnings to my employer to deduct 22 payments of 214.00 and a final payment of 134.00 to complete trust deed payments . After my review last year I got another letter saying it was being extended yet again to cover them having to extend it .The income and expenditure form I recieved still shows the initial figures I gave in 2013 does that mean that my income has never been updated to show I have less money coming in and if so why has it never been changed in almost five years now .

M hart

Sharon Toal
Trust Deed Expert



290 Posts

Posted - 06 August 2018 :  08:42:47  Show Profile  Reply with Quote
Marieh38

a trust deed really should not be extended for the reason you have intimated above. In any trust deed, a contribution is set for a period of time and should only be extended to account for any asset payments or any missed payments on account. In certain circumstances it can be extended where the client has failed to account for overtime or bonus payments but this sounds like it is non applicable in this case.

I would ask your trustee to explain why the deed in being extended in writing and based on their response, if it simply to account for their fees, I would ask for the Accountant in bankruptcy to review the matter.

Hope this helps


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Marieh38
Regular Contributor

23 Posts

Posted - 06 August 2018 :  10:08:32  Show Profile  Reply with Quote
Hi I emailed the regarding income and expenditure and payments the have replied saying to disregard income expenditure but that outstanding balance is 348 do last payment isnít until September the last payment of 214.00 was deducted from my wages last Tuesday do u think it maybe hasnít reached their account yet or am I going to have to pay yet another 214.00 which would make an extra 4 payments the have taken on top of the original 36

M hart
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Marieh38
Regular Contributor

23 Posts

Posted - 06 August 2018 :  11:38:09  Show Profile  Reply with Quote
Just been on the phone to pinnacle and wages department pinnacle saying they didnít recievd payment in September 2016 but wages confirm it was paid but they are still taking full payment of 214 this month which means I have paid more than I should be

M hart
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TDA (Debt Adviser)
Trust Deed Expert



12572 Posts

Posted - 06 August 2018 :  16:13:47  Show Profile  Reply with Quote
Hi Marieh38.

I can only really suggest producing the records from your wages department to your trustee to evidence the payments that you have had deducted from your pay.

Hopefully this will be sufficient for the trustee to check their own records again.

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