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Scottish Trust Deed Forum
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Topic starter
04/05/2014 11:56 am
Being bored on a Sunday, I have been trawling the AIB register. Being with KPMG and nearing the end of my TD, I have been looking at the entries with Mr Nimmo as the trustee. Almost all the entries I looked at (which was quite a few) had no date of debtor discharge although many had date of trustee discharge. A lot of them had neither dates of discharge and I was looking at TD's that had started in 2007 or thereabouts.
If there is no date of debtor discharge but there is a date for the trustee discharge, does this mean the TD has failed and the debts still exist?
If there is neither date of discharge does this mean people are still plugging away at their TD 7 years later?
Seemed strange that were so many like this (almost all of them). Or, is it just a case of the register is not updated as it should be?
Glad that's over with....
04/05/2014 1:20 pm
Hi.
If there is no date of discharge for either I'd assume the trust deed remains open.
On these older trust deeds I think there was only a single discharge event, though I'm not 100% sure how this would be recorded on the register. By this I mean the trustee could not discharge their client until everything was finished.
Hopefully someone else will know.
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