Welcome to the forum Bob33.

It does need to be included - all debts that exist when your trust deed begins are included (they have to be).

From the lenders point of view your ex-partner hasn't taken on the whole debt. There's joint and several liability, meaning that each of you is individually responsible to repay the full amount owed. The lender has no interest in releasing you from that obligation as they stand to receive a payment from your trust deed and/or they'd want to pursue you for repayment in the event that your trust deed failed.

When you're discharged the creditor will not be able to go after you for repayment any longer. They'll need to recover the balance from your ex-partner only.

You are correct that if your ex fully repaid the loan prior to your discharge the lender would no longer have a claim on the funds paid into your trust deed.

Once that debt had been removed, it's possible that an early finish might become realistic. Typically you'd have to have paid in an amount that adds up to the total of your debts (minus the repaid debt), plus the fees and costs of your trustee (likely to be several thousand pounds), and possibly some interest on the debts also.

This page provides more information about joint debts, trust deeds, and other debt solutions:

https://www.trust-deed.co.uk/joint-debts-and-a-trust-deed.html

Many thanks you for your reply. It has clarified the position for me and given me something to look into.

I presume (from reading other forum topics) that early release from a PTD would usually require one full payment, either from a windfall of some sort or a 3rd party, rather than just an increase in monthly payments? This would not be possible for me but I think I should speak directly with the Trustee's office and see what options there are.

Hi Bob33.

I think from what you've written that you're subject to the old rules - for new trust deeds now an early finish is only possible if everything is paid off in full.

You're correct that settlements under the old rules (where the full debts etc aren't repaid) would normally be funded by something that wouldn't otherwise be due to the trust deed anyway.

Your surplus income is already part of the agreement, so I doubt very much it could be used to fund an early settlement where everything isn't fully repaid.

A lump sum from a relative, for example, would be different because it's extra money that otherwise would not go to the creditors.

When was the Trust Deed signed Bob? If the Trust Deed started 2 years ago, in 2014, then this is subject to the new rules (after November 2013) and cannot be finished early without full repayment of the debts, interest and costs.

Good point Kevin.

That time has flown by.

The TD was started in late 2014 so it would be under the new rules. I wish the rules on who can search the AIB register were more strict. I am fairly sure that I have already lost one potential new income source due to this and may lose my existing income source any day (no question there, just a rant!)

Thanks for the very good advice.

That's definitely one of the potential disadvantages of any type of personal insolvency Bob33.

Registers are made publicly accessible so that interested parties can review whether any particular individual is insolvent.

For most people that's a non-issue because nobody is going to go looking. For others, in different types of work, it can be a real challenge.