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Scottish Trust Deed Forum
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Topic starter
12/12/2013 2:06 pm
Hi there, after 4 years in trust deed ( with a year deferred for maternity leave) I have finally made my last payment on the 30th November. [:D]
I have no assets or PPI to be claimed and my trustee has advised that they have received claims from all but 2 of my creditors, strangley these 2 show as satisfied on my credit report( another conversation I think)
My trustee has advised that it can take a minimum of 3 months to receive my discharge, and my information has been handed over to the closure department to process. Can anyone advise if this timeline is normal given that there are no outstanding issues to be resolved.
Thanks
12/12/2013 2:09 pm
It is a simple process to issue you with your "Form 5" discharge letter, kittychip40, so there's no reason it should take that long. After you are discharged then your trustee can remain in office for however long it is necessary to tie up the loose ends with your creditors.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
13/12/2013 9:08 am
Hi kittychip40,
Well done on reaching this point and successfully completing your Trust Deed and expecially this time of year when the extra money I'm sure will be useful.
As Kevin said, it's a simple process to issue you with your Form 5 discharge certificate and they can then continue with closing the case and making payments to creditors etc. Allowing 8-12 weeks to completely close the case doesn't seem unreasonable.
Give your Relationship Manager a call and ask them specifically for the Form 5 to be sent out to you as you have completed your obligations under the Trust Deed. If your wanting things moved along quite quickly then keep on top of this by asking for regular updates on the closure.
How have you found the whole Trust Deed process?
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
16/12/2013 11:07 am
Kevin/ David,
Thanks for the replies. I have requested the Form 5 so will see how long they take to respond. I'll give them a week and then chase again.
It was quite daunting to begin with to be honest, I signed up in 2009 as I found myself in a position where it really was my only option. I kept it to myself so it was quite stressful to be honest, TD company were great I have had no major issues in the past 4 few years, they have been supportive with a payment break when I had a bereavemnet and had to travel abroad and I deferred my payments for 12 months when I was on maternity leave ( a surprise ).
Only real issue has been regular change of case handler, I had an issue with one of my creditors not cooperating with Trust Deed for the last 18 months and it took over a year to resolve with the creditor constantly deducting monies and no one really taking ownership to help resolve. Other than that they communicated well and were professional, hopefully the close out process will be the same.
Been a long 4 years but ironically seems like yesterday that I was sat in their office not sure what to do.
