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Topic starter
13/03/2017 7:08 pm
Hi
I was reading earlier posts from 2012 about getting an early discharge.
I notice that it is at the IPs discretion whether to allow this.
Can you advise if this is still the case, as a family member has made an offer to repay his Trust Deed early, but the Insolvency Administrator has advised him that to be discharges he would need to pay the full amount, along with 8% interest and fees.
Your advise on this would be much appreciated
13/03/2017 9:49 pm
Welcome to the forum Elliw.
I'm afraid the rules have changed in this area.
The advice you've quoted is correct for newer trust deeds.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/03/2017 10:16 pm
ok. When did the legislation change. He took his Trust Deed out in 2014
13/03/2017 11:32 pm
From memory it was for trust deeds beginning in late 2013 onwards Elliw.
Kevin or David will correct me if I'm wrong.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
13/03/2017 11:46 pm
You are correct TDA, it changed November 2013.
As TDA has advised Elliw for the Trust Deed to be settled early it's the total debt plus interest and fees.
How long does the person have remaining in their TD?
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
14/03/2017 12:37 am
It is due to finish in October 2018
