Help !!! lack of un...
 
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Help !!! lack of understading

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(@lorrainek)
Trusted Member
Joined: 14 years ago
Posts: 72
Topic starter  

Can anybody give us some help to understand, my husband is due to pay his last contribution on the 30th of this month. Equity is now to be sorted. The trustee says they will have to get an up to date valuation, do they have to pay for that ?Also the PPI is still on going, we have sent another lot of forms away, 3rd lot I think.They want to see our life policy, why ? We are finding it quite difficult to understand why are you not discharged when the contributions are completed, when is discharge completely likely to happen and how long are we kept in office ???
We have a complete nightmare story has to how we ended up in a PTD, went into completely blind, hence all the panic and lack of understanding that is going on with us now, so sorry if we are coming across as complete idiots. Would be grateful for any pointers, just can't wait till this nightmare is over, feel our lives have been on hold for 3 years plus. It will be good to have my wage as my own again. We know that this is our mess but we have done all that has been asked off us, when we see the advert on the television debt free is 36 months, then surley it should all finish in that time scale.[V]


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi lorrainek.

The valuation cost will be met by your trustee.

Life policies vary. Some are straight insurance policies. Others may be connected to investment policies with a cash-in value. They may be seen as an asset that could help repay creditors.

If it's only PPI then left outstanding your discharge is possible.

I can only agree with you that some trust deed advertising might be more clear that it may not be a straightforward 36 payments if you own assets such as a home.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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