Good morning@jaun23 welcome to the Forum

If you have made all your payments towards your Trust Deed then your Trustee would have issued you with a Form 5 (Discharge of Debtor) can you confirm if you have received your Form 5?

It is always advisable to contact your Trustee for clarification and to provide you in writing regarding your Trust Deed commitment and if there are any arrears of contribution due.

Hi Jaun23. As Annmarie has said, this is only likely to get sorted out if you contact your Trustee firm and find out what you need to do.

The bottom line is that when you sign a Trust Deed you are making a legally-binding promise to pay whatever you can reasonably afford for the next 4 years and to let your Trustee know if your circumstances change so that your contributions can be amended accordingly.  If you have been earning a higher wage for a period then you should let them know and they will work out whether you are required to pay more and how much.  I presume they will need to do this check before they will consider you for discharge.

In respect of the £20k figure, that would have been the amount required to finish the Trust Deed early - ie full debts plus interest plus the costs of the Trust Deed.  That is different from what would be needed to finish after the 4 year term.

@annmarie-macdonald thank you kindly for your response, I haven’t received a  form 5 yet. Is there a typical time for this ? Would you recommend contacting them and asking?

@kevin-mapstone thank you Kevin, we’ll noted

Good morning @jaun23 

If your Trustee is satisfied the you have met all your obligations in terms of your Protected Trust Deed and you have co-operated fully then an application to discharge you via Form 5 should be done as soon as possible.  

I would contact your Trustee and ask if there are any matters outstanding , if your Form 5 has been issued or when this is likely to be.  

@annmarie-macdonald @kevin-mapstone hi again, I have now received my discharge letter. I’m absolutely over the moon!

Now I have received the form 5 and have a discharge date on the aib reg. does this confirm that my trustee if happy I met all my obligations and will have no reason to contact me again? Or am I still under some sort of review ect?

thanks in advance for your time 

Good Afternoon @jaun23 I am pleased you have received your discharge letter.  The Form 5 means that you have met all your obligations to the Trust Deed.  You will not require another review however the Trustee is still in office at this moment until they have distributed the funds to your creditors and done all of their administration work.  You will receive confirmation from them in due course that the funds have been distributed and that the Trustee has received his discharge.  The Trustee's discharge will also be recorded on the Register of Insolvencies and the case will be closed.

That's brilliant news.  Congratulations @jaun23  !