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25/03/2019 5:00 pm
Hi. Looking for some information. As always is so difficult to get straight answers or to find out information. I was in a protected trust deed 2012-2016 discharged by debtor 2017 due to delays from my trustee.
MY trustee still hasn’t discharged his self due to funds still not being collected by creditors ( so he says ). Very frustrating and still feel it’s hanging over me.
My credit report is clear of the trust deed and actually moving up quite nicely. In a position to remortgage. I have been totally honest with my TD and have my discharge papers etc. But on checking the AIB I’m still there because he hasn’t discharged his self.
Does anyone know if this will go against me. My remortgage is at the stage of conveyor doing checks and I wonder if this will suddenly show a big red mark and everything will be unsuccessful.
Hope all that makes sense.
Thanks for any advice
25/03/2019 5:25 pm
Welcome to the forum Dunc2709.
This shouldn't cause an issue provided that the mortgage lender was fully aware of your trust deed, date of discharge etc, and took this into account when they made you a mortgage offer.
There will be an insolvency check by the solicitors towards the end of the process, but that check should clearly reveal your discharge. At the worst, the solicitor might want to confirm this status with your former trustee.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
25/03/2019 5:31 pm
quote:
Originally posted by TDA (Debt Adviser)
[br]Welcome to the forum Dunc2709.This shouldn't cause an issue provided that the mortgage lender was fully aware of your trust deed, date of discharge etc, and took this into account when they made you a mortgage offer.
There will be an insolvency check by the solicitors towards the end of the process, but that check should clearly reveal your discharge. At the worst, the solicitor might want to confirm this status with your former trustee.
Thanks for the information. Yeah I was upfront with the trust deed however I wasn’t aware I was still showing on the AIB. I was under the impression everything was done especially after the 6 years had passed and my credit file is clear of all information about theTD. Thanks again
25/03/2019 5:40 pm
Hi Dunc2709.
I can't remember seeing any financial detriment resulting from someone remaining on the register of insolvencies for a while.
They key point is your discharge, not that of the trustee.
However (quite understandably) many people would prefer not to be listed there for longer than necessary.
When you speak with trustees they do often explain that they can experience significant delays when trying to get the information they need to send funds to creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
25/03/2019 5:44 pm
quote:
Originally posted by TDA (Debt Adviser)
[br]Hi Dunc2709.I can't remember seeing any financial detriment resulting from someone remaining on the register of insolvencies for a while.
They key point is your discharge, not that of the trustee.
However (quite understandably) many people would prefer not to be listed there for longer than necessary.
When you speak with trustees they do often explain that they can experience significant delays when trying to get the information they need to send funds to creditors.
Yeah I have checked and was told they are waiting on creditors making contact to receive funds. I was hopefull all this was behind me, still quite stressful to bring it up and discuss it again. Don’t suppose you know what checks the solicitor does for the insolvency checks. I can just see it being one big mess.
Thanks again for the information
25/03/2019 5:46 pm
Hi Dunc2709.
They're simply checking whether you're insolvent.
If you're discharged, you're no longer insolvent.
If you were insolvent then nothing would happen without the consent/involvement of the trustee.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
25/03/2019 5:52 pm
quote:
Originally posted by TDA (Debt Adviser)
[br]Hi Dunc2709.They're simply checking whether you're insolvent.
If you're discharged, you're no longer insolvent.
If you were insolvent then nothing would happen without the consent/involvement of the trustee.
Thanks again for the advice 🙂
25/03/2019 10:17 pm
As Amy has said, it really shouldn't make any difference that your trustee is still not discharged.
Having said that, I really don't see why it should take so long after your discharge for the Trust Deed to be completed. Sounds to me like it is probably more about inaction on your trustee's part than that of your (former) creditors.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
26/03/2019 9:11 am
quote:
Originally posted by Kevin Mapstone
[br]As Amy has said, it really shouldn't make any difference that your trustee is still not discharged.Having said that, I really don't see why it should take so long after your discharge for the Trust Deed to be completed. Sounds to me like it is probably more about inaction on your trustee's part than that of your (former) creditors.
Thanks for that. Yeah I am starting to feel the same way. I have also just learnt that once he does finally discharge it will still be a year from that date before I am removed from the insolvency registry. Very frustrating.
