I should also say that I received a letter from the Trustee 6 months ago notifying me that they are currently investigating any mis-sold PPI so expected this to be completed by now.

Hi jamie12.

You've not had a Form 5 as yet?

Have you asked when they'll be able to provide you with that?

That's your discharge and it's quite possible that will come a lot sooner than December.

Your trustee can only discharge themselves once all their work is done, including PPI. That could take a while.

Hi Amy

Thanks for responding, my Trustee has told me that they have applied to the AIB for my discharge, I assume this is the Form 5. They say this will take about 4-5 weeks. What I am unsure about is, if I receive my discharge in about 5 weeks does that mean the trustee has no further interest in my financial affairs. So if, after my discharge, I was paid a bonus from an employer, would the trustee have any interest in this?

Thanks

Hi Jamie12

Once you are discharged, your trustee can have no further interest in your income/bonuses etc.

The trustee remaining is normally to conclude the administration of the trust deed.

Mark

Thanks for that Mark, that's a relief.

I have tried to find a step by step process that explains everything you should expect as you conclude a trust deed and my various Google searches haven't managed to help. This forum has been a fantastic resource for finding out information like this and the community here has been a million times more helpful than my trustee.

Thanks again

Cheers Jamie, thanks for the good feedback on the forum. Sounds like you are very nearly there, so a big congratulations to you.

Any regrets about the process, or pearls of wisdom to hand on to those who are where you were three years ago?

Hi Jamie12,

Well done on reaching this point and successfully completing your Trust Deed.

When you receive your Form 5 you can then join the virtual conga line!

It would be difficult to find a step by step guide on the closure and what will happen as you near the end of your Trust Deed. This is set within legislation/guidance and also the individual firms procedures. As we have heard, some firms won't discharge a person until all PPI and outstanding matters have been dealt with. Other firms will discharge the person upon completion of their part of the Trust Deed so things like this can vary.

I think good communication and customer service from a Relationship Manager/Trustee is key and can really make a difference to a clients understanding of things but sometimes this appears to be forgotten about.

It's nice to receive positive feedback about the forum and how useful and helpful it has been. Thanks for that!