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27/02/2011 9:17 pm
Hi Guys,
I am currently with Invocas for my trust deed, i have been paying ?ú400/month for 32 months now i'm due to be released in june, i'm curious to find out:
1) Does my creditors get paid the money monthly or at the end of the 36 months?
2) Do i need to do anything when the 36 months is up? or do i just get a discharge letter through?
i'm clueless lol
thanks guys 🙂
Dave
27/02/2011 10:27 pm
Welcome to the forum daveLee.
When you complete your payments the dividend due to the creditors will be calculated and paid out. They aren't paid monthly; the money is kept in an insured client account.
Best just to check in with Invocas when you've made the last payment to confirm how long the closure process will take. It should only be a few weeks and you should get a letter confirming that it has been done.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
28/02/2011 10:00 am
Hi Davelee
Most Trustee's pay the dividend at the end of the 36 months, although if substantial funds were ingathered a dividend could be paid sooner.
As TDA states once you have paid your last contribution contact Invocas to ask them when the Trust Deed will be finalised.
Julie
Julie is not currently posting in the Trust-Deed.co.uk forum.
28/02/2011 8:21 pm
I'm with Invocas too. Hopefully you can post again in a few months saying how smooth your discharge went.
Nothing left to discharge - everything's done and dusted!
