I believe that the individual you spoke to will be referencing the fact that under the current regulations you can only settle the Trust Deed early if you pay all of your debts in full together with statutory interest.

In the event your partner was offering to just pay your outstanding contributions then this would not have been possible. Nevertheless, with your contribution period due to have ended in November, I am surprised that they didn't say that come November your arrears could be paid off by way of the lump sum as you would not actually be settling the Trust Deed early at all.

I would suggest it may be worth clarifying whether this becomes an option for you in November.

Thank you for your reply. I have explained that originally it should finish in November but they said that they informed creditors about the breaks at the time of me taking them.

I spoke to a nice gentelman again and reworded what I actually meant. He said that it should be ok to just send him an email explaining and pay this month payment and then once creditors come back to pay the balance. Fingers crossed that will happen. I also been told that it’s going to be 2-3 months before I get my discharg papers? Is that correct? Does it mean that date on the discharge be the day of the last payment or how does it work?
Thank you for your input

Hi TD2013.

That sounds a lot more positive.

I'm afraid that the discharge date will not usually be the date of the last payment. However there will not normally be reason for this to take more than a few weeks after your last payment to be processed.

Hi TDA. Thank you for your reply. I was a bit confused when I’ve been told it’s 2-3 months. I’ve read on forum here that between 6-8 weeks so was hoping to get into 2018 debt free 🙂 i suppose we will have to wait and see. I had an email confirming that the department that deals with my querry is already on it so fingers crossed.

Yes, hopefully under-promising and over-delivering.

Hi TD2013,

I think that once your 4 year period expires I can’t see any problem for your partner to bring the arrears up to date and allow you to be discharged a little quicker.

In terms of the date of discharge, this isn’t on the last payment but when the paperwork is completed and lodged with the Accountant in Bankruptcy.

We try to aim to discharge people within 4-6 weeks of their final payment towards their Trust Deed. If you can keep on at your Trustee about this then you will ensure that you receive this as quickly as possible.

How have you found the Trust Deed experience in general TD2013?

Hi David.

Thank you for your reply. My arrears are finally settled and just waiting for discharge papers.
Speaking of experience: If i could go back in time I would go different route like DAS perhaps so everybody got paid what they were owed. Overall my debt was around £7.5k and that’s what I have paid in total in my payments(so in my eyes no debt write off) so what was the point of Trust Deed(who charged almost half of my contributions for their fees). Creditors only got some of their money. I felt guilty with my decision from the moment I signed up and I’m over the moon that it’s done and dusted. So my advise to anyone looking to step up and sort their troubles Please look into other options first and speak to your family if they can help. My partner was very disappointed that I have kept it from him as he could have helped(luckily).

Hi,

I hope one of you lovely people can clarify something for me.
For the past 2 years I have been with Creditfix after it took over from PJG Recovery.
After making my last payment in Oct last year and being promised to receive cc by the end of Feb I have found out from AiB register(my IP said they have send all the forms to AiB last Monday so have been keeping an eye on discharge notice to appear) that my case has been dealt with by Carrington Dean these days which is a news to me as I have never received any correspondence about the changes.
So my questions are:
Who should be dealing with closure of my case : Creditfix or Carrington Dean?
How long does it take for AiB to update their records and will Debtors Discharge Date be shown before it will disappear after 3 months or not?

Thank you

Hi TD2013.

I understand that these two firms came together last year. No cause for concern here for you as far as I can see.

From previous experience, the Accountant in Bankruptcy are pretty quick to update the register of insolvencies when they receive updates from insolvency practitioners. I'm not aware of any set period of time that applies here.

What are you expecting to disappear in 3 months' time?

Hi TDA,

Thank you for your reply.
I would like to start rebuilding my credit profile and don’t want to do it without discharge papers. Creditfix has said that they have sent all the closing paperwork to AiB Monday last week after me chasing them so just thinking how soon it should all be done and if it will be marked as discharge first on AiB or it will just dissapear after 3 months. It’s been long 4 years and until I see my name gone of AiB it feels like I’m still in Trust Deed.

Hi TD2013.

I'm afraid I have news that you probably will not welcome.

The AIB will register your discharge on the register of insolvencies pretty quickly after receiving the right documentation.

However your trustee will also have to seek their discharge in due course as well. This could take some time and they're not really under an obligation to do this in a set timescale. There's work they have to do which may take some time.

Your entry will remain on the register of insolvencies for a year after your trustee has been discharged I'm afraid.

Hi TDA,

I understand it takes time for trustee to discharge himself as well but i thought from reading some posts that my name will disappear after 3 months? I guess I got that wrong. I was just hoping it will show my discharge date so I can at least look somehow trustworthy to even get a car finance in the near future.

How long should I give my trustee to discharge me tho?

Thanks

Trust Deed Assistant is correct. The record of your Trust Deed disappears from the Register of Insolvencies 1 year after your trustee's discharge.

However, as soon as your discharge is processed then the record will be updated to reflect that and show the date of your discharge. Your credit file should also be updated with this information soon after and you can start rebuilding your credit rating regardless of the fact that the record is still showing on the register - these are two different things.