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05/01/2015 7:00 pm
Hi
Well I have 6 more payments to make to my TD & hopefully that's it. I called the company I am with as when I signed up I did not have £500 to exclude my property from the TD so assumed this would be looked at, at the end (its in negative equity my thousands)but the person on the phone said as long as I pay the £500 before the end of the TD they will not look at my property as its not in equity. Does this sound right? I am going to try to get this money together by the end of the TD but what if I can't what happens.
If I do make this payment and I have had a simple 3 years in this, should it just be a case of waiting for the discharge, do they contact me or do I call them??
I wish it would hurry up!
Thanks
05/01/2015 7:22 pm
Hi Chillypink.
I guess it depends upon what was agreed at the start.
If you said the £500 would be paid the trust deed might not end until it has been.
If it was just an opportunity to pay that £500 to avoid a review of the equity later, and you haven't paid it, they'll likely instruct a valuation to compare with the mortgage redemption figure. If there's still no equity then your obligations should be at an end.
Probably best to double check this with your trustee so you know where you stand, and perhaps also ask them to give you their best guess of how long your discharge will take once you've made the last payment. It does seem to vary a fair bit between firms.
I'm sure the six months will pass quickly now!
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
05/01/2015 8:34 pm
Why would you pay it if your certain you are in thousands of pounds negative equity? Is that not just a waste of 500 pounds?
steve
