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Scottish Trust Deed Forum
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Topic starter
15/01/2014 1:25 pm
My TD is due to finish around March or April this year (may have to make up a missed payment but have increased my contributions so hopefully this will cover it!).
My question is what happens? Does my Trustee write to me and tell me it's coming to an end but we are extending it because of the missed payment or is the onus on me to contact them to find out?
If it does finish in March do I have an annual review?
Thanks in advance
15/01/2014 2:18 pm
Hi Neverendingstory
My guess is you should contact them directly for an update. Assuming all payments have been received, the Trustee will be able to issue Form 5 which is your discharge. This will allow the trustee to remain in office to finalise matters. Once this has been completed, he issues Form 6 to creditors and seeks his own discharge which takes place 14 days later if there are no objections.
I don't think there would be any reason for a review once you have reached the end.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
17/01/2014 1:34 pm
Thanks Mark
Spoke to my Trustee and my TD finishes in April - with a tiny payment!
I have to contact them once paid, and can cancel my standing order and hopefully receive my discharge quickly and start my debt free life!
17/01/2014 1:44 pm
Hi Neverendingstory
No problem. Glad it's sorted.
One of the key things is knowing that when all matters have been concluded, you have a definite timescale to closure.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
