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Scottish Trust Deed Forum
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Topic starter
16/03/2023 7:24 pm
Hi Folks,
I am nearing the end of my TD thankfully, I am just wondering what the process is after I make my final payment?( i have 3 left)
Do i have to send bank statements etc for another review before discharge or is it simply a case of final payment completed then the process of discharge begins.
Thanks
17/03/2023 8:44 am
Hi Charles07. That's great to hear the finishing line is in sight for you.
You might be asked to complete another review, as your Trustee may want to check that there is nothing in the last 12 months that should have been declared to them. Assuming there is nothing like that then they should issue you with your certificate of discharge (aka Form 5) fairly quickly. That's your obligations to the Trust Deed formally ended and you are no longer liable for any debts that were in it.
It usually takes a few months for Trustees to get their own discharge and close down the Trust Deed altogether, as hey have a process they must go through first to deal with your creditors and pay out available funds etc.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
