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Topic starter
11/02/2010 1:16 pm
Previous post - How long to closure of TD? Thanks guys for your responses to my previous post. I was wondering if you could comment on my current position. You may recall my situation from previous posts where my husband and I both have TDs and the final payments were made at end of July 09. We then arranged for a third party to cover the additional equity release and this was completed in October 09. Then the added complication - my husband got diagnosed with cancer so i alerted them to the critical illness policy he had. To cut a long story short, since then there has been some toing and froing, ending in the Trustee saying he has decided to abandon his interest in the policy but needed to write to the creditors to advise this and then they would have 14 days to object (19th Dec 09). To date, this letter has still not gone, they have advised our files have been sent for closure and are currently with a Director for final adjudication? Got an email saying that they would get both files closed asap - Question - how can they move the files to closure if they have not asked the creditors for objections to the trustee abandoning his interest in the policy - I am so confused and seem to get conflicting info every time i contact them. Any advice anyone could give would be appreciated
thanks
magscb14
11/02/2010 2:24 pm
Hi magscb14,
This all seems quite technical and I can see it must be confusing if you are receiving different information from different people.
I'm sure one of our technical experts will share their view soon.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
11/02/2010 4:38 pm
Hi magscb14
I think they are telling you what you want to hear.
The normal process in a scottish trust deed would be to complete the work to allow closure, pay the dividend and advice the Accontant in Bankruptcy that the ip is seeking his/her discharge. The matter of the policy would really need to be addressed before seeking discharge.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
16/02/2010 10:53 am
Thanks Mark - that's what i feared - that they are just messing me about so they can delay things further and claim more fees. I am really frustrated as things are difficult enough without them using delaying tactics. I have been emailing to and fro with them with the last one stating that the circular to creditors re the policy has still to be sent and that they will try to get the files closed as soon as they can. Do you recommend any other course of action rather than wait it out and keep chasing them meantime?
Thanks
Magscb14
