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Topic starter
05/03/2015 5:30 pm
was told equity in may 2013 £8300 been paying £300 each month since was to p gill now creditfix rang them yesterday how many more payments thinking as I haven't missed any I would pay last £300 in July with £200 to pay as last payment in august creditfix tell me still £4000 outstanding on equity ?? so somewhere equity has gone up £2300 they said they will look in to it but how can it keep going up at this rate I can never pay it off. Asked about redundancy pay,explained if I got for arguments sake £10,000 how much would they take as if I gave full £10000 they would not get anything for equity as I would have nothing again waiting for an answer
05/03/2015 5:45 pm
Hi maverick267.
Because the equity question is very case specific (to you) I think you'll need to wait for a response from your new trustee at this stage.
Please let us know what they say.
Are you expecting to be made redundant?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
05/03/2015 6:37 pm
in the oil sector so hanging on not much left of my fingernails left
06/03/2015 5:48 pm
That must be worrying maverick267.
I hope that your employment doesn't become affected.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
08/04/2015 9:09 pm
conformation equity is paid off now awaiting what happens next no idea how long till I'm free I take it form 5 can take months then I have to wait 3 years for credit file to be updated?
09/04/2015 2:53 pm
Ask your trustee about discharge timescales maverick267.
When did you sign your trust deed?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
14/04/2015 8:44 pm
tried to contact trustee but she's on holiday
however as I have paid up inc equity what happens if I gain money between now an being officially discharged form 5 eg I win £2000 on the lottery(I wish)
14/04/2015 9:05 pm
Hi there.
That type of windfall might remain at risk until your discharge is registered I'm afraid.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
14/04/2015 9:07 pm
that's what I was worried about ref any redundancy pay I may get as suggested before it would all have to go to trustee
15/04/2015 12:31 pm
Keep pushing for a date with your trustee. If everything is squared away from your end, then there's no reason your Form 5 should take months. I had mine a couple of weeks after my last payment.
Glad that's over with....
Topic starter
21/04/2015 5:12 pm
been told it will take at least 6 months to close so best I don't win anything till next year(or if I'm a lottery winner in the Caribbean best o luck trying to get me)
Topic starter
21/04/2015 5:14 pm
also puts any redundancy pay at risk now as well as I'm sure they want to take it all
22/04/2015 8:38 am
Hi maverick267,
If you have completed all of your obligations and paid everything you had agreed to pay then I can't see why it should take 6 months for you to be discharged. Normally when a client has paid everything we look to get the Form 5 sent out within a matter of weeks.
I would keep on at your Trustee and push them to provide your Form 5. If they say it will take 6 months to discharge you ask them to confirm in writing why it will take this long.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
22/04/2015 7:11 pm
was really worried as well about redundancy money as I have paid everything I don't see them allowed to ask for any ?
23/04/2015 9:09 am
I'm not sure that's going to be the case I'm afraid maverick267.
The sooner you're discharged the better for you, but there's only so much that you can do to encourage this to happen.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
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