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Scottish Trust Deed Forum
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Topic starter
29/06/2013 12:41 am
Hi again folks.
Not posted for a few weeks, but still enjoy coming on and reading other people's queries and answers.
Regarding bringing my TD to an early conclusion, is it as easy as some of the posts on here make it out to be that I simply have to pay off the remaining instalments in a one off payment ?
In my case it would be £250 x 7 = £1750, so if someone, say a friend or family member can come up with such a sum, then is that me finished completely seven months early, with no recourse or comeback from any of the creditors after discharge ? Surely it can't be as simple as that, could it ?
29/06/2013 6:49 am
From what I've read before, it's a proposal that you can put to the IP but they can either say yes or no. The fact that you're reasonably close to the end of the TD might stand in your favour as the chance of a windfall in that time isn't as great as if you had much longer still to run. Nothing ventured, nothing gained!
Glad that's over with....
29/06/2013 9:15 am
Hi A.D
You've pretty much covered it in your post.
With 6-7 months remaining, there's little or no reason not to allow it to be closed early.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
29/06/2013 12:48 pm
Thanks guys !
That's really encouraging news even if it is a bit hypothetical from my point of view at the moment.
However, even seeing the words, "reasonably close to the end of the TD" is equally up lifting, so thanks "upstream" !
I must say, I have seen so many grumblings from people on here complaining about their TD accountants. From my own point of view I have nothing but good things to say about how I have been treated by my own company who have been so supportive and informative right from day one up until the present, some two and a half years down the line. I would trust their advice completely if I was to put this suggestion of early closure to them even if they don't advise it, which judging by both your comments would be unlikely to happen anyway.
I don't know if I am allowed to name them, but suffice to say they are one of the companies listed on here, which, if nothing else, is recommendation of this excellent site which has been a godsend to myself and others in similar situations.
Keep up the good work guys !
29/06/2013 12:52 pm
Hi A.D
I suppose it's human nature that people are more likely to write about negatives as opposed to positives.
I'm glad things have worked out positively as this is exactly the way it should be. What was agreed at the start should be exactly how things are dealt with throughout. I like easy. Easy is nice and uncomplicated. Here endeth the lesson!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
29/06/2013 3:41 pm
I'm 5 months behind you A.D. Mine is a 42 monther so I'm already 30 months in. Seems like just yesterday I signed that paperwork. Hoping the last 12 go just as fast.....
Glad that's over with....
05/07/2013 11:10 am
When your t d is ending do you not have to find a lump sum as well after the 36 months this is what we have been advised and it is in the region of 16000.00 we haven't that kind of money so really what we are looking at is getting ourselves into further debt when we really thought that we would be debt free
05/07/2013 11:22 am
Hi Annie
Can you clarify what the lump sum is for?
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
