It's entirely possible that you might be accepted, kailea. If it is over 6 years then it is possible that there would be no sign of your trust deed showing on your credit files any longer.

However, I would say that you should err on the side of caution and speak to your trustee first just to confirm that they will not have any interest in any car that you purchase

Thank you for your advice, that seems very unfair that Trustee may have interest in new car when we have already handed over the value of our present car to them....[|)]

Hi kailea.

Your trustee may well agree with that, which is why it's worth speaking to them on the matter. Hopefully you'll be reassured by the answer.

Very unlikely that the trustee woul have an interest in the vehicle at this stage. But as the guys say, never any harm in just running it by your trustee for the purpose of their file and transparency. At the end of the day they are still in office. I would always say it is at the own discretion of each lender, however most trust deeds stay on your record for 5-6 years and given your good credit rating hopefully it should not be a problem.

Kailea, 3 years and still no discharge? Is there no independent body who regulate IP's that can look into this for you?

The trustee will have a governing body and I would certainly look at raising a concern. I don't think the PPI issue is a valid excuse for a delay of that length. I'll bet the trustees fees are on time each anniversary!

Mark

Well said Mark .

I could guess what firm this is , sounds/ looks very familiar .
[:(]

Thanks for your replies. We did extend our Trust Deed to pay the outstanding equity on our property and made the last payment in November 2011. Seemingly because our Trust Deed started in 2007 Trustee will not discharged until PPI'S dealt with. I made a call to company dealing with PPI'S and they are still waiting response from 2 companies, told me they would chase but got the impression they couldn't care less. So frustrating we want to get on with our lives! [|)]

The trustee cannot be discharged until PPI claims have been completed given the start date of your trust deed kailea.

Very frustrating and quite unfair on you, but not something that the trustee has much control over unfortunately.

You would think a good IP would look after both sides equally (most do). However, when they please there self when they will and when the wont do work on a case is all wrong as at the end of the day they are quick at moving right at the start of a trust deed for you to sign on the dotted line.

What would happen if the client was discharged, and the PPI was mistakenly sent direct to the client as has happened in one of my cases recently? The money was soon spent and has cost even more time trying to recover it/conclude it.

The Trustee has to stay in office until all assets are realised so they can wind everything down properly. I agree with TDA, frustrating but not the Trustee's fault. We have to remember IP's get monitored on a regular basis.

I totally agree with your point Rob, Although part of the blame should have fallen with the PPI firm who sent the payments. My PPI claim payments were sent to me by cheque and made payable to my trustee which I then forwarded on. Perhaps in kailea's case the IP could have offered some reassurance by trying to chase things up rather than being dismissive about the situation.

Thank you for your advice everyone...looks like nothing can done but to try and be patient. The few times I have called Trustee for update they have given me the impression that its up to me to chase PPI company.
Think we will hold off with applying for any loan as not keen on doing anything that may delay discharge. [|)]

Absoloutly sparky1. We are chasing the PPI company/bank who are liable for payin he money direct to the client rather than to us as Trustee (basically standing in the shoes of the client as I like to imagine it). The liability ultimately lies with them. Doesn't help that client spent it mind you!