Not necessarily jt222, unless you can fully repay the debts plus trustee fees.

Much depends upon when you signed your trust deed - could you tell us please?

Thanks for reply. I signed my TD in Sept 14 and before I did I was assured that if I could get hold of the money (15k) I could pay it in at any stage and get discharged instead of letting it run its course. At the end of the month I will have paid £750 towards the total so was thinking along the lines that I would need to find £14250 and that would be me done. Is this the case or has the truth been somewhat stretched?

Hi again.

There has never been any right to settle a trust deed early. It's always been at the discretion of a trustee.

Unfortunately I understand that trust deeds signed after November 2013 must run for a minimum of four years.

The exception would be where you could fully repay your debts, quite possibly some interest on those debts, plus pay the fees of your trustee.

Amazing how far people will bend the truth in order to sell you something! My own fault for not properly finding out the facts. I wonder what other untruths I will discover as I plod my way through the next four years.
What is the reason for not being able to settle up early?
Surely if I can get the money from a third party then it is in the best interest of all my creditors to receive it as quickly as poss

There is that argument jt222.

The counter argument is that your circumstances might improve, meaning that you could repay more of what you owe.

That might be income based, or could be a lump sum that comes your way during the term. Early discharge could deny your creditors the benefit of such a lump sum.

I could also die.
The annoying part to this is the untruths told to sell you the TD.
Also dealing with the call centre when anything arises.

Hi jt222.

I don't know who your trust deed provider is, nor do I need to.

Sadly however for as long as this forum has existed we've heard of salespeople pretty much telling people whatever they think they want to hear in order to get a "sale".

It's not how the majority of the industry operates, but as with every industry there are a wide range of standards and ethics in place at different service providers.

In terms of a call centre, the work done on your case remains the personal responsibility of your trustee. If you think something is wrong, write to him/her personally and tell them. If you're correct, I bet you get a helpful reaction.