Hi again.

Discharge from a trust deed occurs once you've completed your obligations to that trust deed. This will usually be after a minimum of four years.

The six year period you mention relates only to what's on your credit file - which is a separate issue obviously.

Documentation requirements will vary slightly by firm. They'll be looking to verify income (payslips, accounts, tax returns etc), expenditure (bank statements, utility bills etc), and identity (passport, drivers licence etc) amongst other things.

Kevin and/or David may be able to confirm what their firms require to give you an example or two.

Hi pipsaholic,

Your discharge from your Trust Deed will come after you have paid all of your agreed monthly contributions towards the Trust Deed. This won't be 4 years exactly to the day you sign it as normally people start paying 4-6 weeks after signing a Trust Deed. Also, once you have paid your final payment then it takes our firm approx 3-4 weeks to give someone their discharge (Form 5). I would therefore say that you could expect your discharge in 4 years and 2-3 months after signing.

In relation to documentation, as TDA has advised we require evidence of your income so payslips, accounts or tax returns. We also require evidence of your expenditure so bank statements are good for this to show things like rent, council tax, gas & electricity. If these things are not on your bank statement i.e. you have a pre-payment gas/electricity meter then we would need you to speak with your supplier to give us an annual usage statement. Also, identification so driving licence or passport. If you owned a property then we would need a redemption statement for your mortgage or if you had a car on finance we would need a copy of the finance agreement.

Most of the information we require is things that people are able to put their hands on easily for us.