Hi gemgem.

When it all works properly they'll recognise that the trust deed closure process should start when they receive your last payment. That should only take a few weeks.

You might want to make a call a few days after the last payment to check that everything is underway.

Ok thanks

Hi gemgem

Process for closing should be around 4-6 weeks.

You are discharged when trustee issues form 5. He then seeks his discharge within 28 days after final dividend.

Interesting point as the AIB's guidance & forms for this conflict. I had a chat with AIB and understand this has been referred to policy for amendment. PTD Regs say that discharge is effective from date registered by the AIB - form 5 registered
Guidance says discharge is effective from the date debtor complied with all obligations under the Trust Deed.

Form 5 which has to be completed and issued to the AIB for him to register it has a section for you to put the date of discharge in - but how can you when you have not sent the form off to be registered yet - crystal ball I think

Mark

Thanks for the advice Mark, I think when the forms arrives I will phone my trustee and ask which date to place on the form then I can't go wrong, I would like to think it's the date of your last payment but as you say how do you really know.

Mark was meaning that the trustee has to put in a date of discharge on the form and then send off the form, not you, so don't worry!

Thanks Kevin, at least it's something I don't need to worry about, must be as complicated for trustees at times as it is for us.