Hi folks, just wanted to say a huge thankyou for all the valuable information that is on this website and forum.
My wife and I paid our final payments, after 3 years of learning to budget properly, not buying things on a whim, and saving a small amount of money every month for the unknown. It has been a real eye opener for us both, and even our children have now got the message of living within your means.
I take it we can just cancel the direct debit now, and wait for the Form 5 to arrive ?
Hi Dave1966,
Well done on reaching this point and successfully completing your Trust Deeds.
I would give your Trustee a quick call just to confirm that all payments are made and that you can cancel the standing orders. Whilst your speaking to them ask them when you can expect to receive your Form 5.
It sounds like you feel the Trust Deed not only helped to clear the debts that were a struggle but also helped to improve your financial management which is excellent.
Let us know once you have spoken to your Trustee to confirm everything.
David is not currently posting in the Trust-Deed.co.uk forum
Emailed them at the beginning of February, and got this reply :-
I write to advise that your last payment will be in March 2016 and once this payment has been made, a closing review will be completed and your case will be passed to the closing team. I can advise you that the approximate timescale for this procedure is 6-8 weeks.
Should i still phone them ?
Hi Dave1966,
I would still give them a call to highlight that you have completed your final payment, have cancelled your standing order and will await your Form 5.
The risk is that if you don't it could be a couple of weeks before the realise that you have made your final payments and pass it to the closing team.
It should be 2-3 minute phone all to make but that way you can ensure that it's being dealt with and passed for closure.
David is not currently posting in the Trust-Deed.co.uk forum
Well done on getting through to the end of a trust deed. Never easy and a great achievement.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Thanks David, i will give them a phone.
Cheers Paul, it was like a huge weight was lifted when we started the trust deed, and i have to say, its been a quick 3 years. So glad we did it.
Well done on completing your TD. I can honestly say logging in to my online banking to cancel that Direct Debit was one of the happiest actions I have experienced!
Glad that's over with....
It's surprising how often we hear that. Thanks for sharing your experience, Dave1966 - there are no doubt many others that are currently where you were 3 years ago that will be glad to read your comments.
Congratulations!