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Scottish Trust Deed Forum
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Topic starter
15/08/2012 1:07 pm
Can anyone help with this query ? I will make my last payment to Invocas after 36 months of hard slog. Invocas are still persuing PPI and tell me that it can take as long as 3 months after my final payment before discharging the trust deed . I am keen to get on with my life , and wish to travel around the world . This would involve renting my property out without being discharged formally . Can I do this or do I have to suffer a further 3 months after the last payment, while Invocas get their act together.
15/08/2012 1:23 pm
Welcome to the forum Alli.
Congratulations on getting to the end of your payments. You must be pleased and relieved?
If you have finished the monthly payments I cannot see any reason why you could not rent out your home. Check it with your trust deed firm if you'd like to be 100% sure, but I don't think there will be a problem.
Any firm will take a little while to deal with discharge. There are processes that need to be completed before it can happen.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
15/08/2012 1:28 pm
Hi Alli
TDA is correct, there is no reason why they cannot issue you with Form 5 discharging you and remain in office themselves to deal with the PPI.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
15/08/2012 1:55 pm
Thanks for that. I have just spoken to Invocas, they want to do a valuation of the property after final payment, which will probably drag on, can I just rent it out and let them get on with it, even if if there are people renting the property ?
Topic starter
15/08/2012 2:06 pm
Further to above, they tell me along with the valuation, if the valuation is negative I have to pay £500 to relinquish their interest in the property. Is this normal ? It has not been mentioned before . Are there any other hidden requirements that will come out the closet that will delay this process any further , that I can deal with now ? ( apart from PPI )
15/08/2012 2:35 pm
Is this £500 not mentioned in your original paperwork at the start of the trust deed, Alli? If it formed part of the proposal to creditors then I think you are probably stuck with it. If not, then I don't see why you should have to pay anything - there is no real work involved in them relinquishing their interest in the property if it is in negative equity.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
15/08/2012 5:23 pm
Ask them why you need to pay anything to remove their interest in a property in negative equity??? They are at it!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
