Thanks for your kind words Debtnomore and congratulations on reaching the final stages of your trust deeds.

I think you need to ask your new trustee to check the number of payments made for you. A number of other members have found that this new company did not have immediate access to the receipt of this first cash payment, but we're able to locate it once directed that this is what had occurred.

Well done debtnomore - I'm glad that we have been able to help along the way.

A Trust Deed can be a very effective option and works for a lot of people. As you say, not an easy option but hopefully the 4 years has passed more quickly than you felt it might at the start!

Hi Debtnomore,

Well done on reaching this point and successfully competing your Trust Deed.

I would give your Trustee a call to ask for an update on your case and when you can expect to receive your formal discharge (Form 5).

As Kevin said, glad that the forum has been able to help you through a difficult time.

Best wishes for the future and enjoy being debt free!

Managed to phone Credit Fix tonight. I'm not sure I feel overly confident after having spoken to them but I am determined to remain positive and hopeful.

A few things worried me. The first is they were very negative about PJG which I felt was unprofessional. I explained that we had taken months to choose a trust deed company and we had chosen PJG as we felt they were professional and fair. When I said I had presumed they would have contacted me regarding the end of my trust deed the girl said they did not have my contact number or email as the computer files given to them from PjG were corrupt. When I asked about the closure process, they advised it could take up to 6 months. I said this confused me as my case was straightforward, the negative equity on my mortgage at the start of the trust deed meant that there were no assets and this had been agreed at the start of the Trust Deed. The girl said that PjG made agreements that they should not have. This made me very worried. I explained that I had kept a meticulous copy of all agreements should they need to see anything . When I asked about the overpayment as I had made 37 payments, she said this would be reviewed. If it was found that I had they would wait to see if any equity from the house would have to be paid before returning any funds to me. It could take a while before this money could be returned if indeed it should be returned at all depending on assets.

It has left me feeling quite anxious. I deliberately did not contact Creditfix last October when the transfer occurred despite the great concern shown on this forum at the time by others in my position. I wanted to see how things would progress before making any judgements or showing any concerns. I did not have any issues, the only change that was made was with regard to the bank account I made my trust deed payment to. I am trying even now to give them the benefit of the doubt but I just have a gut feeling the closure is not going to go quite the way I had hoped.

So does this sound correct? What do I do next?

Hello Debtnomore.

A number of other posters have reported being told the same things by Creditfix. Subsequently (so far):

1 - They have been able to find the relevant information.

2 - They have honoured agreements about equity.

As a further reassurance, an insolvency practitioner from the firm came on here (soon after the transfer) to confirm that equity agreements would be honoured.

As for the time that this firm is taking to close cases, it's probably best that some of our other members that have been through their closure process report on their own experience here...

Thanks for your prompt reply as always. Greatly appreciated.

Got a phonecall from Creditfix today. I shared my concerns and felt the person dealing with me was far more professional in relation to PJG. I was asked to email any electronic evidence I had with regard to equity/ assets which I have done. I have assured them I can send any other paperwork they require. With regard to my 37 th payment, it is still not showing up on their records. It left my account on Tuesday (1st of the month) so I guess this is understandable. Between my payment and my husband's it equates to almost £700.

So my concerns just now. Would I be right in inferring that Creditfix do not legally need to honour the agreements made by PJG ? I understand that according to other forum members they have honoured the agreement if the relevant paperwork matches what was agreed. I know you said an Insolvency Practitioner from Creditfix came on to give assurances regarding equity but I believe this is the man who left the firm a few months ago. Our Insolvency Practitioner was changed recently. Hopefully I am worrying unnecessarily but I know you appreciate the emotional turmoil this whole process churns up. I couldn't sleep last night.

Hi again Debtnomore.

I'm glad to hear that you got a more professional response on this occasion.

We can't tell you the "legal position" as we're not legally trained or regulated. However, with the paperwork that you have in place, the assurances provided publicly by a senior person within the firm some time ago, and the experience of others that have been in the same position and written about it here, I strongly suspect that this is all going to work out just fine for you.

Just thought I would give you an update.

I am hoping our money from 37 th payment will be refunded shortly. Creditfix has asked for our bank details. Any emails I have sent have been answered promptly and professionally. Feeling more confident.

Haven't heard any more yet about assets/ house valuation as yet but hoping this is just a formality and we will have closure soon.

One more step...

That all sounds much more reassuring Debtnomore.

I hope that it's all brought to a satisfactory conclusion soon.