Mine lasted 42 months but no idea why it would be marked as settled if you havent been dischagred.

Register on the AiB website and search the records of insolvencies for yourself and see what it says.

Were the extra 6 months added to cover trustees interest in a car or a payment for equity??

Paul

the 6 months were added as they said the debt was higher then expected but it wasn't to cover a car or any equity.

I just find it really strange that my credit report has been updated when I am still paying.

Thanks for your advice, I will register with AIB today and also phone my advisor to see what I need to do as my trust deed is nearly finally over!

Thanks for your help [:)]

No problems,what company did you use for the trust deed,we used RSM Tenon and they made it all rather simple and relatively pain free?

Paul

Hi scorpio81

At what point were you told it was to be extended?

Mark

Welcome to the trust deed form scorpio81.

It is strange that your credit file would appear to say that your trust deed is finished before you have been discharged. Having said that, I wouldn't worry about it too much as it certainly will not be doing you any harm I don't think!

Trust deeds can last longer than three years. Sometimes that is because a longer term is agreed by all of the parties at the start. Somtimes it's because a reduced capacity to pay into the trust deed makes an extension appropriate.

We haven't heard very often that a trust deed would be extended because the debts were more than expected. Did you forget about a creditor at the start of your trust deed?

Hi TDA

Even if there was a missed creditor, its no reason for the increase.

Mark

Absolutely Mark.

I'm just curious as to how the trust deed firm involved in this instance might have justified it.

Probably connected to ensuring the creditors receive the promised dividend?

Hi all,

My trust deed is with Invocas. Invocas came out to see me just before I signed and the told me it would be extended by 6months because the debt was higher than they expected, truthfully it wasn't really explained that well to me and at the time I was just so relieved that it was being fixed!

I'm going to phone them tomorrow and hopefully they can explain what will happen once my Td ends.

Thanks for all the help [:)]

That does put this in a slightly different light scorpio81.

It looks like the increased term was proposed before you agreed to the trust deed due to the discovery of another creditor and you agreed to this. The extension was probably necessary to ensure that creditors were being offered an acceptable dividend from your trust deed after the fees were deducted.

Not long to go now! I hope the time passes quickly.

Hi scorpio81
I to am in a trust deed and it was with invocas and then was sold on to masars in glasgow who i had never herd of (has anyone else).invocas done the same with me told me it would be for 3 years but when it came to signing the papers mine is for 5 years like yourself was told my debts were to high.nothing was really explained to myself or my partner either.But as we new nothing about trust deed thought that must be the norm.We have along way to go yet as we have only been in ours since nov 2010 so keeping our fingers crossed everything will be ok when it comes to an end.Good luck and i am sure it will all work out for you.

The value of your debts should have been calculated at the very beginning, to see if a trust deed was the right option for you - and your creditors, especially when the level of debt pays such a big part in determining a trust deed.

Hi mamo25.

Mazars are well known within the industry.

I cannot remember them being mentioned in the forum before, which is generally a pretty good sign!

THANKS FOR COMING BACK TO ME TDA.
I must have been typing to the forum at the same time as you were replying.I have just listed this as a topic.

Thanks again tda