If im in a trust deed and Ive just recently won an tribunal regarding my redundancy and a substantial amount of money will be coming my way, is it taken as an asset by the trust deed, do I have to hand all of it over to them or some or do I get to keep it, or should I keep my mouth shut and or will this show up on a credit report if I dont submit this.
You need to keep your IP informed at all times and this is certainly relevant. I am not sure if there are different rules for Trust Deeds and windfalls but do not try and hide anything.
You are entitled to keep your statutory redundancy money but anything above this will need to be paid into your Trust Deed for the benefit of creditors
It's always best to be totally honest with your Trustee.
These things have a habit of coming back to bite you!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
