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26/02/2016 1:14 pm
The day has finally come, I've just made my last payment for myself and my husband to our PTD. It's been a tough 3 years but many valuable lessons have been learned in the process. I was originally with PJG and was moved to Creditfix so naturally I was worried about the closing process but I have to be honest and say Creditfax have been fab. I've been told to expect my discharge papers within the next few weeks and that'll be me, it'll finally be over. What happens next though? I desperately need a new car as our 2 are falling to bits, can anyone give me any advice on where to start with this? To anyone counting down the months, hang in there, before you know it, it'll be your final payment day too..... I'm so happy 🙂
26/02/2016 3:30 pm
Hi Stephanie,
Well done on reaching this point and successfully completing your Trust Deeds.
Posts like this are great for people who are considering their options or just starting out on their journey to debt freedom.
In terms of buying a new car we have heard that approaching the likes or Arnold Clark, Evens Halshaw or one of the big garage chains and being honest and up front about your credit rating might mean that you are able to secure a new car. Shop around, if one garage tell you then can't help check with others.
Enjoy the extra money per month and I hope that there is a little celebration planned.
David is not currently posting in the Trust-Deed.co.uk forum
26/02/2016 6:58 pm
That's wonderful news Stephanie. Congratulations to you on completing your trust deed - that's no small achievement.
I don't think I have anything to add to David's comments about finding a new vehicle. I'd leave it until you're discharge has been provided and your credit file has been updated accordingly if you're able to wait that long.
A few members have shared stories about what worked for them with car finance - hopefully someone can share their story again...
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
26/02/2016 10:08 pm
Well done!
Re car, I applied for a loan for a car 6 months after being discharged (2009) from my bank and was accepted, wish you all the best.
Cheers
26/02/2016 11:27 pm
If you get a car you may find your ex-trustee will claim you might have thought about owning it in a dream back when you signed your trust deed.
And that's a potential asset, hypothetically, potentially.
26/02/2016 11:35 pm
Sorry shouldn't have said that. Apologies. Well done on everything.
27/02/2016 1:40 pm
Hi Stephanie,
Once you receive your Form 5 any car or asset for that matter you buy or acquire after this point doesn't come into your Trust Deed and cannot be considered as an asset by your Trustee.
Just clearing up and confusion that tinsoldier may have caused.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
29/02/2016 5:17 pm
Thank you so much & some good advice in there ... I cannot wait to receive Form 5 🙂
