Hi Ciara and welcome to the trust deed forum.

Your trustee will investigate whether there is the potential to raise more money for your creditors by claiming back PPI which may have been missold to you in the past.

You can be discharged while this is looked into, but some companies choose not to. If this hasn't been dealt with yet I'd call your trustee to find out when it will be. There's no reason why the process couldn't be underway well before your trust deed ends.

The trustee's fees are paid from the contributions that have been made to the trust deed.

If your home had no equity you may have been given the chance to pay £500 so that, if equity develops, you'll not have to find a lump sum at the end of the trust deed.

You may wish to check with your trustee whether they'll still accept the £500 at this stage. They may expect you to pay it before you are discharged, it depends upon what was agreed at the start. Failing to pay it could leave you very exposed if your property has increased in value and/or your mortgage balance has reduced.

Thank you for your reply. You have me concerned now so I will contact the trustees. A friend was going to pay this for us but because of the economic downturn, he was unable to and now we may be in trouble to pay it back.

Hi there, not sure you will read this again but I called my trustees and have got clarification of all the points I mentioned above. Got it all sorted thanks.

Glad to hear that Ciara.

It's always best to know exactly where you stand.