Hi everyone,been a while since been on the site,to have help from fellow people in this position is very helpful,my question is,why does it take such a long time to be discharged fron your TD when it finishes,the way I see it is you,ve paid your dues so I can't understand the delay,any help would be appreciated
How long have you been waiting? Some companies discharge you after the final payment, I was lucky in this respect a week after making my final payment. Seems it can be them checking out any PPI claims!
Some discharge you quickly then look into PPI, again I was lucky in my choice of Trustee, they took 4mths with PPI then discharged themselves.
You could contact them to perhaps get an estimate of timeline. Hope it won't be long for you now.
Completed 3yr TD Sept '12 discharged Sept '12. Trustee discharged Jan '13
Building up savings.
Chase them along. They could discharge you while staying in office to chase up ppi.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Are there no rules to govern this? There seems to be rules for everything else?
Is there anyone on here who can provide a legal standpoint?
Hello squench2002.
This isn't a legal forum I'm afraid. I'd imagine legal forums would be 99% disclaimers!
For most people discharge will be prompt. For some people a specific issue related to their case will delay discharge. Sadly there appear to be a couple of firms out there that don't consider promptly discharging their clients to be especially important.
The Protected Trust Deeds (Scotland) Regulations 2008 cover most of the legalities for how trust deeds should be administered. They do not set out a timeteable for discharge, I'm afraid. They simply say that when a debtor has completed his/her obligations then the trustee should make a statement to that effect, recall the notice of inhibition and send out a Form 5 notice of discharge to the debtor.
I don't see why this cannot happen very quickly in most cases, though as Trust Deed Assistant says, some firms seem to be taking a very long time.
Thank you everyone for your input,does seem to be your luck really and ho good your TD is,I still have 18mths to go,but heh ho.