Hi babyd12,

Well done on reaching this point in your Trust Deed process. Not long now hopefully until you receive your discharge and will be completely debt free.

I would always advise speaking with your relationship manager to confirm the exact date of your final payment before cancelling your standing order mandate.

Even although your Trust Deed isn't due to finish until later in the year I would give them a call now and find out about the discharge process and how quickly you can expect to receive your discharge (Form 5). We normally provide people with this within about 3-4 weeks after their final payment.

In terms of your discharge, you don't need to sign or do anything. Your Trustee has to complete a form and send this to the AIB to effectively register the date of your discharge.

How have you found the whole Trust Deed process babyd12?

Hi David, I was reading the post there, you said normally receive the form 5 within 3/4 weeks,is this the normal time scale or can it take longer or a shorter time, what is the normal process from the trustee's perspective before receiving your form 5

Hi poprey,

I've learned that every firm and Trustee is different from being involved in the forum.

Generally speaking once a client has completed their payments and obligations then there shouldn't be anything stopping the Trustee from issuing the Form 5 discharge certificate.

Some firms will only provide a client with their discharge once they have completed all of the administration on the case and paid funds to creditors. People have told us on the forum that from their last payment they will need to wait 6 months for their discharge.

My firm will generally discharge an individual once they have completed all of their obligations and we will then complete our administration on the case and pay creditors a dividend. I think this is also the same for the firms of Kevin and Mark.

We always advise someone to keep on top of their Trustee for their discharge once they have completed all payments and obligations.

Best to check with your own Trustee to see what their procedure is regarding this. Let us know how you get on.

Hi David, thanks for your reply. I've found the trust deed really good and best thing I done, however never want to be in this position ever again [:)]. I think it has made me better with money and spending so that can only be a bonus. Let just hope I continue with my ways

Hi babyd12,

It's good to hear that you have found the Trust Deed to be of benefit and helped to deal with your debts. A lot of people say it's made them better with budgeting and working with money.

I always think that if set up for the right reasons then a Trust Deed will provide excellent debt relief. It's a tough journey but at the end you will be able to look forward in life knowing you are debt free.

To echo David's comments, there is no reason that a form 5 should take months to arrive once you have completed your obligations. It is a pretty straightforward process and your Trustee can then go ahead and complete the work they need to do to tie things up after they have discharged you.

Do you have any plans as to how you will use the spare cash once you no longer have any payments to make to the Trust Deed? I always think it is a good opportunity to try and save a bit of money each month to cope with whatever life might throw at you, given that you have gotten used to budgeting without that money each month.