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Confused by IP email

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(@ellebee)
Active Member
Joined: 3 years ago
Posts: 5
Topic starter  

Hi,

I am 36 months into a 48 month trust deed, today I received an email from them that said;

"as you may be aware it is the anniversary of your Trust Deed is now complete and I therefore attach a current status report for your completion as soon as possible.

Please return together with 3 months banks statements and 3 payslips along with evidence of any other changes in your circumstances."

to me this implies my trust deed is complete, but I should still have a further 12 months to go.
I have filled in the CSR report as requested, this is only the 2nd time during my trust deed that I have been asked to do this.

I guess I am just worried that something is wrong on their end and as with every correspondence from the IP it throughs up worry and anxiety.

My question is, and I know the answer already but just need it confirmed. there is no way a trust deed can end early unless the agreed amount is paid off in full?


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 15 years ago
Posts: 13594
 

Welcome to the trust deed forum ElleBee.

I'm reading this differently to you I'm afraid. They seem to be saying that it's the third anniversary of your trust deed that's now complete, not your trust deed itself.

Trust deeds (by law) must run for a minimum of four years unless the money you've paid over will clear all of the following:

1 - The full debt you owed at the start of your trust deed.

2 - Interest on those debts.

3 - Your trustee's fees and costs.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@ellebee)
Active Member
Joined: 3 years ago
Posts: 5
Topic starter  

quote:


Originally posted by TDA (Debt Adviser)
[br]Welcome to the trust deed forum ElleBee.

I'm reading this differently to you I'm afraid. They seem to be saying that it's the third anniversary of your trust deed that's now complete, not your trust deed itself.

Trust deeds (by law) must run for a minimum of four years unless the money you've paid over will clear all of the following:

1 - The full debt you owed at the start of your trust deed.

2 - Interest on those debts.

3 - Your trustee's fees and costs.


I knew this was the answer, I was just a little confused by the wording. This time next year...


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 15 years ago
Posts: 13594
 

Hi ElleBee,

There's no harm in asking if you aren't 100% sure.

Let's hope that the final year of your trust deed passes quickly for you.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@ellebee)
Active Member
Joined: 3 years ago
Posts: 5
Topic starter  

quote:


Originally posted by TDA (Debt Adviser)
[br]Hi ElleBee,

There's no harm in asking if you aren't 100% sure.

Let's hope that the final year of your trust deed passes quickly for you.


Thank you. I dug out my paperwork it is defo 48 months. I hope it passes quickly too.


   
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