Welcome to the forum Suzie28 and congratulations on completing your obligations to your trust deed.

Form 5 is the important one - it's your discharge. It becomes official once recorded on the Register of Insolvencies.

Form 6 is much less important to you - it's your trustee's discharge once they've completed their work on your case.

We can't really advise you on timelines as it varies by firm and how busy they are at any particular time. Check with your trustee if this is important to you.

Well done on joining the "trust deed finished" club!!! You deserve a medal. I know how much effort is involved!!!

Paul

hi I have received at letter Knightsbridge stating its a "form 4" which includes; thanks for you reply.

* a copy of my receipts and payments
*a copy of the circular to creditors
* a copy of the Trustees form 4 summary

The trustee's statement of status of a protected trust deed seems slightly complex in the break down.

Wanted to check is this the form before form 5? the Trustee mentions that she anticipates the trust deed to be completed by 11/7/16 (it this when we should expect form 5????

Suzie

Hi Suzie28.

Yes - Form 5 would be next.

I'd guess that date might be for trustee discharge (which happens after yours) but you should call or email your trustee if you want to check.

Hi Suzie28,

Well done on successfully completing your Trust Deed!

The important form for you is the Form 5. This is your official discharge.

The Form 4 is an annual update for your creditors which confirms the progress of your Trust Deed. The Trustee is required to send this on an annual basis. The anticipated completion date of 11/7/16 is when your Trustee expects to complete the Trust Deed and receive their discharge. This isn't something you need to worry about.

You will need to chase your Trustee for your Form 5 and ask them when you can expect to receive this.

With my firm, it's normally between 4-6 weeks from final payment to receipt of discharge and Form 5.

Speak with your Trustee and let us know how you get on.

Thanks as I currently have a company car but would like to swap and use my car allowance to choose a car myself on pcp but I prob should hang off until form 5 arrives?? althought technically I wouldn't own the car for 4 years on pcp? I had enquired at a local garage but hesitant about making any errors at this stage. I have had an additional letter stating that we have contributed all required payments and they are now ginning the final administration of my case.

is it worth me phoning my trustee to chase form 5 I would definitely hope it would come more within 4-6 weeks than 6 months but still delighted to have finished all payments and that the letter received since my last post clearly states that all all contributions have been made.

You can certainly chase it up Suzie28.

Are you confident that a credit application connected to a vehicle will be approved very soon after your discharge from the trust deed?

Hi Suzie28
I'm similar to you in that I started a trust deed with Kelsom and then it transferred to Knightsbridge half way through. I just posed my own topic due to problems with them. I made my final payment in December 2014 and I am STILL waiting to be discharged. The only reason they ever give (as I have phoned numerous times) is that not all of the creditors have replied to them. I'm trying to move on with my life but they keep fobbing me off saying each time that it is nearly complete and it was being prioritised. Hope yours doesn't take too long but keep on to them.

thanks Carlisle29 I know its a shame it takes so long at the end but im just enjoying not having the payments to make! good luck with obtaining form 5 too

Hi Suzie,

My Form 5 came about four months after my final payment and my Form 6 took a bit longer as they were claiming PPI - took about 14 months from my final payment.

Hi Suzie28

I am not sure if you know that receiving the form 5 does not mean your credit file will be accurate. Your Trust Deed and the default accounts will still show until six years after the start of your trust deed.

I had the same problem with my company car and I took another car until my credit file was clear.

May I suggest you check your credit file records. My experience is that the information varies on them, so I took Noddle (which is free) and then Checkmyfile which shows Callcredit and Equifax (£7.99 per month). Experian is £15 a month approx.

Long term you need to ensure the default dates on all account show as the same as the Trust Deed signing date, so you may need to contact the lenders with a copy of your Form 5 to get it corrected.

Anyone approving credit will base their decision on the credit search.

I do know a few people got credit after discharge and before the six year period, so you may be lucky. Fingers crossed for you.