Welcome to the forum anotherbubble.

Congratulations on reaching the final stages of your trust deed.

Form 5 is your trustee discharging you from the trust deed. You can use this to verify to others that you have been discharged in the event that you need to.

Form 6 is your trustee discharging themselves from the trust deed. You don't need to do anything with this.

Any default notices should be updated as being "satisfied" or "partially satisfied" to reflect the fact that you have been discharged and therefore no longer owe the money. You may have to prod some of your creditors into making this update when the time comes.

Hi anotherbubble

Just to expand a wee bit from TDA, when you have completed your obligations under the Trust Deed, the Trustee issues you with Form 5 which is your discharge. A copy is sent to the AIB and this is recorded in the Register of Insolvencies. Once registered, that this the date of your formal discharge.

When the Trustee has completed the administration of the case and paid final dividends to creditors etc, he sends Form 6 to creditors seeking his discharge and this is granted ( bar any objections) after 14 days.

Believe it or not, there is also a Form 7 which goes to the AIB and summarises all money received, fees and outlays and dividend payments to creditors. This goes to the AIB for their records.

Mark

Thanks very much, that's realy helpful.

What can I expect to see on my credit file in the public record section? Will it be updated to say that it's been completed?

Thanks!

Hi anotherbubble.

I don't claim to be an expert about credit records, but I don't think the public records section is amended at all when you are discharged.

I think that this is just a single date entry that will vanish six years after it arrived.

quote:

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Originally posted by Trust Deed Assistant
[br]Hi anotherbubble.

I don't claim to be an expert about credit records, but I don't think the public records section is amended at all when you are discharged.

I think that this is just a single date entry that will vanish six years after it arrived.

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It does list a completed trust deed as no longer active. Then at 6 years the td vanishes.

Paul

Hi Folks, Sorry to open up an old thread. This one caught my attention when reading about the discharge process. Am I correct in thinking that once all obligations have been met, the trustee will write to the AIB advising them of your discharge. Once this have been recorded, the AIB will write back to the trustee providing the Form 5?

Hi SkintAlly.

Your trustee completes the Form 5 and forwards it to the Accountant in Bankruptcy.

It becomes official once the AIB record this document on the Register of Insolvencies.

Thanks TDA. Is it reasonable to assume then that a trustee might wait for an official date to recorded before issuing the form 5 to the debtor then?

Not necessarily SkintAlly.

Maybe some of our experts can tell us what their firms do. I'd imagine that it might vary.

Hi,

Under the regulations the Trustee submits a Form 5 to the AIB and also to the debtor a copy of that application to the AIB is sent.

We will submit our Form 5 to the AIB for recording and the debtor. Once the AIB record this on the Register of Insolvencies we will then notify the debtor of their specific date of discharge.