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Discharge Process

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(@pinkgirldancing)
Active Member
Joined: 13 years ago
Posts: 9
Topic starter  

Good Afternoon,

This is my first post on this forum.

I am due to make my last payment to my TD in August this year could someone tell me what the discharge process is please?

What documents do they need from me?

I also have a car which was included in my trust deed.

Thanks


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi pinkgirldancing (great name)

Once you have paid all contributions and any money for the car, then your Trustee will issue you with a letter enclosing Form 5 advising of your discharge. He will then issue Form 6 to creditors seeking his discharge and then 14 days later send (strangely enough!) Form 7 to the AIB where the discharge will be recorded.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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(@pinkgirldancing)
Active Member
Joined: 13 years ago
Posts: 9
Topic starter  

Thanks Mark - very quick response. I'm glad I've found this site, it's been very informative.


   
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(@pamjo)
Reputable Member
Joined: 14 years ago
Posts: 355
 

Welcome-always space for a pink girl dancing!!


   
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(@plasticdaft)
Noble Member
Joined: 16 years ago
Posts: 1594
 

my non existant ppi seems to be delaying rsm tenons ability to do forms 6 and 7!!!

I check the AiB site daily and I still have a trustee!!!!

Paul

Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Do you still have a trustee plasticdaft?

Or is it just the trust deed that you used to be party to that still has a trustee?

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


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 17 years ago
Posts: 4253
 

Just to clarify - there is a bit of work to be done between form 5 and form 6. Claims may have to be adjudicated and dividends would have to be calculated and distributed to creditors. Creditors can be quite slow to cash cheques, which again delays the trustee's ability to apply for discharge. I don't think Mark was intending to imply that it is just a case of sending out forms 5, 6 and 7 one after the other.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi Kevin

Ooops! sorry, I was.

We are fortunate as we have a team in our Irish off who chase all the groups]'s claims and supporting documentation from the date the Trust Deed is protected and it is very unusual for us not to have all claims in and agreed by month 4.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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(@plasticdaft)
Noble Member
Joined: 16 years ago
Posts: 1594
 

Yes I still have a trustee. I have grown quite attached to him and may choose to keep him for a while longer!!!

Paul

Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.


   
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