Hi folks, and Merry Christmas to you all !
Not been on in weeks, but soon reaching the psychological point where I can say...."this time next year the trust deed will be finished" which will happen in February when I will only have one year left.
I'm confused though. I understand there is a finalisation period after the trust deed is finished which apparently takes between four and six weeks, yet reading "plasticdaft" his appears to have lasted nine months !! Also, I plan to take early retirement some time after the TD is finished from a job I have been in forty years which will obviously involve a lump sum payout. Am I able to do so without any problem, and if so, how long after February 2014 when the TD is finished can I contemplate it ?

You could be discharged fairly quickly but get your trustee to start chasing up ppi claims now rather than near the end of your TD. Once you are discharge you should be able to go for early retirement but I'd want confirmation in writing from the trustee before taking a lump sum.

It will drag near the end but you will get there in the end.

Merry Xmas.

Paul

Hi A.D.

As Paul says, some caution about voluntarily taking a large retirement lump sum prior to discharge from your trust deed may be appropriate.

Different firms seem to be more and less efficient about promptly discharging their clients.

Hi

I've come to the end of my trust deed. My final payment was made by cheque at the end of October. To date this has not been cashed. I have written to the administrators at the beginning of December enquiring when they intend to cash the cheque. They have not responded.

Is there a timescale after final payment that they have to adhere to for discharge ? Does the fact that they haven't cashed my cheque delay the process ? If I feel that they are delaying things unneccasarily who should I complain to ? Is this normal practice ?

I should add that on previous occasions when I have had to contact them by phone, all operators are busy and no one has ever responded to any voicemails I have left.

Help !

Welcome to the forum dcam42.

There is no fixed timetable to handle your discharge. Congratulations to you though for completing your side of the bargain.

If you have a complaint it should initially be put to the firm itself. If you are unhappy with their response you can then take the complaint to the professional regulatory body of which your trustee is a member.