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Scottish Trust Deed Forum
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Topic starter
05/11/2012 8:06 pm
I was sent a letter in October 2011 stating that my obligations had been met. Is this my "form 5" that people refer to? My Trustee stated that I don't get discharged until they do, one year on since they've had all the money that was agreed, but apparently because the creditors didn't reply they haven't discharged me. So they tell me on one hand yes I have but on the other no I haven't and the AIB register won't be updated until I have been. Other posts I've read on here seem to imply that the form 5 is sent to me and the AIB, is it an actual form or the letter I received last year? Also my credit report shows defaults on all creditors, did I pick up here they should show discharged or not as the creditors still haven't been paid. Considering they are taking over £ 9,000 of the £ 24,000 paid to them, I really feel like the Trustees are taking the p***. [:(!]
05/11/2012 8:26 pm
Yes, that is your Form 5 and if everything goes the way it should, the last piece of correspondance you should recieve from your Trustee. You are now discharged from all debts in your Trust Deed, the only thing left is for the Trustee to discharge themselves as Trustee. This will happen once all the contributions have been distributed. Mine took a couple of weeks to conclude after I got my Form 5.
06/11/2012 9:10 am
Hi WIKIKEE.
I think you need to check with your trustee whether your Form 5 has been issued or not.
You can expect default notices to be marked satisfied (or partially satisfied) if you have been discharged.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
06/11/2012 1:05 pm
Hi all
If the case was pre April 2008, then it wont be Form 5. They will require to follow the 'old' process of closure.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
08/11/2012 7:09 am
Sorry to ask again, but the "old" process, should this take over a year after they've had all my contributions and realised the assets? I've also just read a post about a car which stated that as it was on a hire purchase agreement it wouldn't be included. My car was on HP and was included but my kind Trustee "let" me keep it as I needed it for work and it was valued at less than £ 1,000 at the end of my TD. I actually dreamt last night and went into their office, can't tell you what I did though I'd get arrested !
08/11/2012 10:50 am
I don't know why it would take over a year, Wikikee. Is there are a PPI issue at play? Sorry, can't remember what you have posted before about this.
Regarding the HP car, a lot depends upon whether the car becomes yours during the period of the trust deed, ie when the finance agreement ends.
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Topic starter
22/11/2012 8:02 pm
Might give them a ring tomorrow and ask why they still haven't paid the creditors, 18 months after having my last payment, 12 months after practically forcing me to borrow from my parents to pay my share of equity in property which was I thought to be covered by cashing in my endowment if I couldn't remortgage and also asking how they can justify nearly £ 10,000 in fees out of contributions etc. totalling £ 24,000. Rant over.
Topic starter
22/11/2012 8:09 pm
Oh yes and why the AIB Register hasn't been updated because according to them, it can't be till they've paid the creditors. Well in that case PAY THE CREDITORS aaaaaaaaaaarrrrrrrrgggggggggghhhhhhhhh!
23/11/2012 11:32 am
Hi WIKIKEE.
I wonder if this might be connected to the VAT issue we've heard so much about?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
