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.
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.
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.
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 ?
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 )
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.
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.