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Scottish Trust Deed Forum
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Topic starter
27/06/2014 3:09 pm
My trust deed has just ended - for various reasons and changes in circumstance I had to pay reduced payments but the Trustee said I would still be discharged - I was so relieved I was a blethering idiot but would this right - he siad he would send me my final letter soon - sorry for being thick but whole process as been very stressful
27/06/2014 5:30 pm
Welcome to the forum Thickasmince (it feels a bit odd writing that!).
It could well be right. Some trustees will discharge a client at the end of the agreed term (and discharge them from their debts) even if their payments were reduced. This normally happens when things take a turn for the worse for reasons that are out of your control.
There are other trustees that take the view that the full amount initially pledged to the creditors needs to be paid, which can lead to a trust deed being extended.
It sounds like good news for you, but I'd double-check with your trustee to be sure.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
28/06/2014 3:37 pm
I got a letter from the Trustee saying they want to discharge me due to change of circumstances outwith my control and I have no assets (not even a car) so making me bankrupt wouldn't help anyone so they have written to the creditors asking for objections - what are the likely hood that the creditors will object?
28/06/2014 5:25 pm
Pretty sure creditors will normally go along with trustees recommendations. Fingers crossed.
paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
28/06/2014 6:25 pm
Agreed.
Objections seem quite unlikely in the circumstances.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
