Hi Dot

If you signed after April 2008, then there is nothing to stop them discharging you by issuing you with Form 5 and sending a copy to the AIB. This takes approximately 2 minutes.

If you signed before that date, I am amazed that it can take 46 months to get claims in. Also creditors do not claim against funds as such. The Trustee receives claim forms and supporting docs from creditors and he either sends them a BAC payment or a cheque by way of a final dividend.

As a firm we have all claims in withing 3 months and these are also agreed and accepted/rejected immediately they are received. So 46 months is certainly not an acceptable time period.

Mark

Than you Mark for your advise. One last question, does the trust deed close out have anything to do with me if I have satisfied my end of the agreement ?

Can anyone tell me why you would have to pay £500 when there is no equity. I thought the £500 was only to protect you from loosing your house if it went into positive equity through your TD.

Hi Dot

No, if you have met your obligations, then the closure is wholly in the hands of the trustee.

Mark

Hi MrsMac

Some firms choose to charge this in line with sequestration guidance, while other firms don't.

I've never quite understood the need to charge this in Trust Deeds to be honest.

Mark

Invocas gone silent. Nothing from complaints department , does anyone know what their complaints procedure is ? Can they just ignore me ?

Hi Dot

Im not aware of their complaints process, however you should send a short recorded delivery letter to the Trustee outlining your concerns and advising that a formal complaint will be made to their governing body if matters are not addressed.

Mark

I am also with Invocas and have just completed a 4 year Trust Deed. I am now being told this could take up to three months to finalise and that I will not be discharged until the PPI nonsense has been concluded. All the monies, if any, which are recovered from PPI will of course go to Invocas so I have absolutely no interest in this matter. After feeling a glorious sense of relief in having paid the final amount after 4 difficult years I now feel totally dejected and let down.

Annie F you are in exactly the same situation as I am I have just got off the phone with Invocas, there complaints person professed to exactly the same position no ppi no discharge. interestingly I have just spoken to the company Handling the ppi ( equity in Finance) they stated the application I made months ago has only been processed yesterday, and that it will be at least 8 weeks before they expect to get any feed back. I feel so crap about all of this neither of these companies have any interest in helping.

I have heard much about the form 5 discharge you will see it mentioned everywhere. according to Invocas they know nothing about it - can any body tell me why it suits them to keep me hanging on

There must a way to sort ppi out more quickly who actually offers a realistic service anybody

Just received an email from my contact at Invocas saying that he has lodged a formal complaint on my behalf following my concerns and that the compliance manager will get back to me! At no point have I asked to file a complaint, surely I have to instigate this? Am at the point of going into their offices in Princes Street and asking to see a manager. I am going to contact my Trustee by letter. On the plus side I have finished my payments so met my side of the bargain and have no intention of getting another credit card so perhaps Invocas should just be left to struggle on with PPI etc.

Any who has forced Invocas to issue a form 5 discharge, any advice would be great

Just received a call from the compliance dept at Invocas and they will be sending me out a Form 5 within the week. They are going to continue to reclaim PPI but to all intents and purposes I will be discharged from my Trust Deed and can start to rebuild my credit. Cannot quite believe it and would like to thank this forum for making me aware of the Form 5 as this could have gone on for months.
Thank you!!!!

That's excellent news AnnieF.

It's good to hear that your trust deed provider is going to help you move on in this way.