Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
3
Users
0
Reactions
3,173
Views
Topic starter
06/06/2015 2:10 pm
You can tell I am on a roll as this is my 3rd post of the day. I have been reading through numerous other posts on this Forum to try and learn about what happens when your TD issue you with a discharge - there seems to be various 'pitfalls' - I am sure I am worrying unnecessarliy, i think after 5 years pf paying my TD I can't really believe I might be able to put it all behind me - or can I?
It seems if i have understood the other posts correctly that although eligible for discharge it seems some of the creditors may object - and hold up the discharge for months - is this a real possibility?
It seems the Trustee also has to be discharged ? Does this affect me?
Although the discharge is in the pipeline (so to speak) if a lucky windfall arrives in your lap - the TD can still take these funds - and am i reading correct that even after you are discharged from your TD - should a windfall arrive out of the blue - the TD can still claim the windfall. Is there a time after the discharge of the TD that any windfall would be a genuine windfall,
I am gathering that credit scores are perhaps not the be all and end all - but I would like to be able to improve my credit rating as at some point i will need to try to invest in a newer vehicle - once discharged what is the best way to start to build up better credit?
Lots of questions, I hope you can clarify some of the points
Thankyou in advance
06/06/2015 10:42 pm
Hi there.
Creditor objection is highly unlikely to hold up your discharge. Your trustee should warn you if there's any real risk of that.
You'll be discharged first. Your trustee will discharge themselves later. You only really need to worry about the first event.
If you're discharged a new windfall will be yours. That's not necessarily the case with an asset which already exists; most commonly PPI which your trustee might carry on working on.
With your credit report its best to make sure existing reporting is accurate, then make some good responsible use of credit thereafter (if you're comfortable that's appropriate for you).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
08/06/2015 10:33 am
Whilst it is technically possible and I guess may happen occasionally, I have never heard of any Trust Deed where creditors have objected to a person's discharge so would be very surprised if you had a problem on that score.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
12/06/2015 4:33 pm
Thankyou very much for your positive replies - its just a waiting game now.
