Hi Sinking Fast,

Sorry to hear of the difficulties you have faced over the last couple of years.

It's good to see you are now trying to take positive steps to deal with your situation. This can sometimes be the hardest step to take.

If on the Register of Insolvencies it has the date of your Trustee discharge but not yours then the likelihood is that you were released from your Trust Deed but not discharged from your debts.

The entry on the ROI will remain there for 1 year after your Trustee discharge date then it will fall off.

You can give your Trustee a call to ask about the money you paid but It's unlikely that any funds would have been paid to your creditors. The time costs of the Trustee would have unfortunately absorbed any funds which you paid into the Trust Deed.

Yes, as you have not been legally discharged from your debts then the creditors can pursue you.

I don't believe the AIB will inform the creditors but this is something which credit reference agencies or the creditors themselves may pick up from the ROI.

Your effectively back in the position as if you had never signed a Trust Deed and therefore you will need to consider taking steps to deal with the debts which you have. This could be entering into a second Trust Deed, it could be a DAS (although you said sizable debts so may not be ideal) or Sequestration.

I would say the best way forward is to speak with a qualified expert regarding your circumstances and what your options are. Kevin or I would be happy to give you advice if you required it.

You should have received correspondence from your trustee before they discharged themselves advising that this was their proposed route and giving you the opportunity to object - did you not get this? Maybe you had moved home already and hadn't informed the Trustee of the new address?

If so, then that might also explain why you didn't get further details of the distribution to your creditors (or lack of it, depending upon whether there were any funds left once the Trustee's costs had been covered).

What is your position now then, Sinking Fast? Are you back in work and in a position to offer something to your debts? As David said, it sounds like you really need some advice as to what you can do next, so we may be able to give you some pointers if you want to share more details with us on the forum (or feel free to contact either of us offline for more in-depth advice).

Hi Kevin/David

Thanks to both for reply. Much appreciated. Was little surprised to think nothing paid to creditors as I paid £254 for 14/15 months.
I had contacted Trustee via email & they said they had mail returned 'gone away' which would be my fault. They asked for proof of income to enable them make decision how to proceed. I returned scanned docs and update addrees by return email. I never heard anything after that.
Unfortunately I'm not working at moment so don't think a second TD is an option. I need to chew this over but just wanted to thank you guys for advice given.

quote:

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Originally posted by Kevin Mapstone
[br]You should have received correspondence from your trustee before they discharged themselves advising that this was their proposed route and giving you the opportunity to object - did you not get this? Maybe you had moved home already and hadn't informed the Trustee of the new address?

If so, then that might also explain why you didn't get further details of the distribution to your creditors (or lack of it, depending upon whether there were any funds left once the Trustee's costs had been covered).

What is your position now then, Sinking Fast? Are you back in work and in a position to offer something to your debts? As David said, it sounds like you really need some advice as to what you can do next, so we may be able to give you some pointers if you want to share more details with us on the forum (or feel free to contact either of us offline for more in-depth advice).

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Hi David

I just checked the date Trustee was discharged out of curiosity. It is coming up on two years but still showing on public register.
Is this because in all likelihood I've not been discharged as you suggested?

Thanks.

quote:

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Originally posted by David Tannock
[br]Hi Sinking Fast,

Sorry to hear of the difficulties you have faced over the last couple of years.

It's good to see you are now trying to take positive steps to deal with your situation. This can sometimes be the hardest step to take.

If on the Register of Insolvencies it has the date of your Trustee discharge but not yours then the likelihood is that you were released from your Trust Deed but not discharged from your debts.

The entry on the ROI will remain there for 1 year after your Trustee discharge date then it will fall off.

You can give your Trustee a call to ask about the money you paid but It's unlikely that any funds would have been paid to your creditors. The time costs of the Trustee would have unfortunately absorbed any funds which you paid into the Trust Deed.

Yes, as you have not been legally discharged from your debts then the creditors can pursue you.

I don't believe the AIB will inform the creditors but this is something which credit reference agencies or the creditors themselves may pick up from the ROI.

Your effectively back in the position as if you had never signed a Trust Deed and therefore you will need to consider taking steps to deal with the debts which you have. This could be entering into a second Trust Deed, it could be a DAS (although you said sizable debts so may not be ideal) or Sequestration.

I would say the best way forward is to speak with a qualified expert regarding your circumstances and what your options are. Kevin or I would be happy to give you advice if you required it.

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Hi Sinking Fast,

Do you anticipate not working for a while? Depending on this and other factors then Sequestration could be the option for you.

You would likely pay an application fee of £200.00 if you are unemployed then you would not be required to make any kind of regular payment and after 12 months you would receive your discharge and be debt free.