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Topic starter
22/04/2013 2:47 pm
Hi All,
My trust deed finished 7 days ago (signed it 15th April 2010) [:)] and I received the letter that goes out to all the creditors with where the money is going etc.
I only have one payment left at the end of the month and that's me done. I have a few questions, the letter says that I should be discharged in AUGUST! Does it take that long? Or if it happens sooner will I be told that am done? Also what does the letter mean, is that it done and the creditors must accept the money (7p in the pound). The 3 years flew in by the way.
22/04/2013 3:08 pm
Hi sam
If you signed after April 2008 then the Trustee can discharge you after you make the final contribution payment and remain in office to close down the Trust Deed, pay final dividend. I think 3 months is not totally unreasonable.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/04/2013 3:11 pm
Thankyou Mark, what do you mean by "remain in office to close down the Trust Deed" sorry am a bit dim on this!
22/04/2013 3:25 pm
Hi Sam
Your Trustee will remain as Trustee until he seeks his own discharge. You can obtain your own discharge before your Trustee.
Generally he stays as Trustee until final dividend is paid and then seeks his own discharge from creditors.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/04/2013 3:30 pm
Hi Mark,
Thankyou, will I receive a letter telling me that's me done and that's my Trustee done and I can relax and celebrate with a wee bottle of beer?
22/04/2013 3:38 pm
Hi Sam
Yes, you will receive a letter with Form 5 which is your discharge. The Trustee then seekks his own discharge from creditors using Form 6 and finally issues ( you guessed it!) Form 7 to the AIB to register his discharge.
I'm sure it will be fine.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/04/2013 3:40 pm
Thanks Mark, much appreciated.
