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Scottish Trust Deed Forum
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Topic starter
24/04/2015 10:37 am
Dear all
Hi and happy Friday, almost the weekend 🙂
Can I just ask, in peoples experience, how long does it take to get the Form5 and be considered discharged ? I paid my last payment in Feb, two months today in fact. When I asked recently about the timeframe, I got this answer
"Thank you for your email. Your discharge (completion) letter will be issued to you in due course. This is usually issued once the creditors have cashed in their dividend cheques. Unfortunately, the whole completion process can take up to 6 months, to complete"
I haven't been on the forum for a while, but from memory I had thought that getting discharged happened more quickly. Am I just getting confused ?
Thanks in advance
24/04/2015 10:51 am
Hi Redguard
Some firms appear to process the Form 5 along with the Form 6 ( Trustee's discharge)
In reality, if all payments have been made by you then there should be no problems whatsoever in issuing you with Form 5. This then leaves the Trustee to deal with the dividend payments/closing down the Trust Deed etc.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
24/04/2015 11:14 am
Hi Redguard.
Mark's post sums it up I think.
Once your obligations are complete your trustee is in a position to discharge you.
However, they'll then discharge you according to the priorities and workflow that they've set up via their internal systems.
Some firms seem to take days, others months.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
24/04/2015 11:24 am
Thanks guys, I figured that was the case. I will give them a wee while and get in touch again.
24/04/2015 2:09 pm
Hi Redguard,
I would keep on at your Trustee to receive your discharge (Form 5) a lot sooner than 6 months. After all, you have completed your part of the deal.
David is not currently posting in the Trust-Deed.co.uk forum
24/04/2015 5:35 pm
Hi Redguard
It's always worth asking the question and see if they can issue Form 5 and then deal with creditors etc. The process itself ( Form 5 ) is probably 5 minutes work filling in a standard document and then posting.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
