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Scottish Trust Deed Forum
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Topic starter
30/03/2015 3:51 pm
Hi.
My husband was discharged from his TD on the 5th March. We are now looking at how to start building his credit rating.
A few questions, what is a form 5? I have a letter stating that no creditor objected and the application to discharge has been granted?
Also I am just looking for confirmation on this.... any outstanding default accounts included with trustdeed on his credit file the balances should change to £0 and marked as satisfactory/part satisfactory?
Thank you in advance!
30/03/2015 4:21 pm
Welcome to the forum backontrack15.
Form 5 is issued by the trustee once the debtor has completed their obligations to their trust deed. It's effectively their discharge, though that's not official until it has been registered on the Register of Insolvencies (available online). A trustee will usually send a copy to their client as well as the Accountant in Bankruptcy.
You're correct in the second part of your post but:
1 - This might take a little time.
2 - You might need to give some creditors a gentle shove to do it.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
30/03/2015 5:44 pm
Hi
Thank you for information. I have checked the AIB and it says the debtor discharge was 4/2/15. I will get my husband to ask for a form 5.
Thanks again!
31/03/2015 8:34 am
Hi backontrack15,
Well done to you and your husband for successfully completing his Trust Deed.
How did you find the Trust Deed process?
David is not currently posting in the Trust-Deed.co.uk forum
