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silly
Regular Contributor

22 Posts

Posted - 10 February 2018 :  14:12:10  Show Profile  Reply with Quote
Hi, I have been notified of quite a large PPI payment that is being paid directly to my td, which is fine and I accept that, however, with that and the payments I have made to date I will now have paid approx 1/3 of my total debt, can I expect my term to be reduced?

TDA (Debt Adviser)
Trust Deed Expert



12195 Posts

Posted - 10 February 2018 :  17:26:35  Show Profile  Reply with Quote
Iím afraid not silly.

It will run the full term unless you reach a point where your debts have been fully repaid, interest in the debts has been paid, plus your trusteeís fees have been paid.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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silly
Regular Contributor

22 Posts

Posted - 10 February 2018 :  17:32:15  Show Profile  Reply with Quote
Thanks TDA. Seems a bit unfair given if I wasnt in a td the PPI would have paid off at least 2 of the debts and I could have managed the others but hey ho. And isnt it ironic the organisations you owe are actually paying your debt for you with such silly PPI payments!!
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TDA (Debt Adviser)
Trust Deed Expert



12195 Posts

Posted - 12 February 2018 :  12:19:37  Show Profile  Reply with Quote
I don't suppose that there's much doubt that some people have entered trust deeds (and other types of debt solution) in significant part because of excessive and/or unfair PPI payments in the past.

That does seem really unfair and there's no obvious way to put it right.


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Rob8
New Member

4 Posts

Posted - 14 February 2018 :  23:30:00  Show Profile  Reply with Quote
If a third has been paid off including a PPI payment, should the monthly payment be reduced since a figure to be paid back was agreed on signing up?
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TDA (Debt Adviser)
Trust Deed Expert



12195 Posts

Posted - 15 February 2018 :  08:56:25  Show Profile  Reply with Quote
Hi Rob8.

It won't be reduced.

The figure at the start is effectively an estimate.

In reality things tend to change, so the actual total payment eventually made might be more or less.

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