Hi Trixie1980,

Well done on successfully completing your Trust Deed.

Is there a particular reason that they have advised it could take up to 6 months for you to receive your Form 5 discharge certificate? We have heard varying timescales for people to receive their Form 5 but to have to wait 6 months for this when you have completed all of your obligations and payments does seem excessive. I think if you keep on at them you should receive the From 5 a lot quicker than 6 months and if I were you I would be demanding it immediately.

I sounds like you are doing the right things to try and build your credit rating as quickly as possible. I would wait a couple of months and then look at your credit report to see how this looks. Depending on what is on it i.e. default notices and the dates you can then take action to try and tidy this up to ensure it is as accurate as possible. You will find a lot of useful information regarding this on the forum.

I was speaking to a client yesterday morning and he was telling me as the majority of people do that it was never his intention to have debt and to sign a Trust Deed but there was no way he could pay back £20,000 of credit card debt when the minimum payments were up close to £1,000 per month. He lost his job 7 years ago and used credit to cover basic bills always with the intention that he could catch up but never did. Like you say it's an effective tool for dealing with an unmanageable amount of debt.

Enjoy being debt free and having the ability to save to buy a bigger property!

Congratulations Trixie1980 - what a lovely way to start the week!

I'm glad to hear of your saving plans. That sounds like a really sensible use of at least some of the additional funds that will now be yours to spend/save exactly as you please.

Best wishes with everything.

I asked the question David and was told that they don't discharge you until everything is sorted and completed - apparently that's just the way they do it, they complete all paperwork at the end. She did mention that some of my creditors still haven't got back to them with final balances owed so she said that would delay things, but they could provide me with a letter stating that I had met all my responsibilities but i don't think that will be much help in trying to get corrections to defaults etc sorted on my credit files.

I'll maybe give them a few weeks and phone for a progress report and put a bit more pressure on them! Apart from the length of time to discharge, Knightsbridge have been fine to deal with and I can't really fault them during this process.

Thanks for the well wishes David and TDA, think a wee bottle of prosecco might be on the cards tonight!

Excellent news, congratulations Trixie1980!

6 months for discharge seems very excessive. Once you have paid the money for the property I think it is fair to expect your form 5 shortly afterwards and at the very least your trustee should explain why this is not possible.

Keep us updated re the form 5 will you? It is the kind of practical detail that can make a big difference to people and is useful for those at the start of the process to know.

Will do Kevin!

Congratulations Trixie1980

Just an opinion from the experts, would it be in Trixie1980s interests to register on the ROI site so she could frequently check on her status, or would she have to recieve her form 5 first anyway?

I'd have thought that the trustee would notify the AIB and their client at around the same time littlemo.

It's the entry onto the Register of Insolvencies that makes it official though.

Trixie1980,
I completed my TD in December, received my form 5 last month and applied for a Vanquis card, which was unsuccessful. Primarily to get my credit rating back to some sort of normality.
I wonder, is there a time limit to when you are able to apply for one of these cards after completion of the TD instead of continued rejection?
Thx

Hi Rickie1, I actually got my Vanquis card about 3 months before my TD was due to finish. I've had a catalogue account all the way through my TD which I've always made regular payments to. As such my credit limit has regularly increased although I am very careful not to go over £100 never mind the £3k limit they've given me!

I can only presume that regular payments to my catalogue and my mortgage has encouraged Vanquis to lend to me. I also got a copy of my credit reports and one of them gave me a "fair" rating and had no detail of my TD. However my Equifax report made for some rather scary reading! Might be worth getting your credit reports if you haven't already and seeing if there's something that can be updated to improve your credit rating? For me there was some simple things such as updating my married name on the electoral roll and my £500 credit limit with Vanquis was viewed as a negative as its a small credit limit but I'm hoping that will change now it's been doubled. Not sure if that helps at all?