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Topic starter
26/01/2016 6:23 pm
First time poster looking for some advice please.
My last payment to trust deed was in October 2015.
I have had 3 separate text messages from TD company on the date that I used to pay my DD advising that I have missed a payment despite me calling them after each message and them advising me that it was a clerical error.
Due to this I'm not convinced that they are any further forward with my case and fear that this is delaying me getting my form 5.
They have assured me verbally that I should get my form 5 within 6 months.
My old car is giving up the ghost and I need a new one, I have been approved credit today to purchase a new one, however because I'm not officially discharged from the TD, do they have any claim over a car if I purchase one now on finance?
Thanks in advance.
26/01/2016 7:30 pm
Welcome to the forum momo.
If the car is purchased using secured finance you'll not be the owner for some time - so likely no issue at all.
As always with these things though, I'd run it past your trustee before you do anything so you're sure where you stand.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
26/01/2016 10:25 pm
It's a secured loan of sorts so I wouldn't think it could be seen as an asset.
You've made your obligations to you TD as well?
27/01/2016 9:53 am
Hi momo and welcome to the forum.
Well done on successfully completing your Trust Deed.
My firm generally issue someone's Form 5 within 4-6 weeks of them completing all of their payments to the Trust Deed. I would chase up your Form 5. I wouldn't like for you to wait 6 months and still not have received it.
If you purchase a vehicle and the finance is secured against the car then I can't see there being any issues. Best thing to do is run this past your Trustee and get them to confirm in writing there are no problems.
The is the reason you want to chase up your Form 5. If you had received this then there would be no problem with you buying a new car as you have been officially discharged.
David is not currently posting in the Trust-Deed.co.uk forum
