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Scottish Trust Deed Forum
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Topic starter
30/10/2015 12:14 pm
Hi
I received my form 5 from Creditfix at the start of October. On the letter that arrived with it, it stated that I should not sell any assets until the Trustee was discharged.
I realise that this can take a while and understand that there are other issues that make the timescale unpredictable.
I have to say CF have been very good to deal with and none of the problems which a few of us were worried about after the Td's were transferred ever materialised.
My issue now is that I'd like to put my home on the market and I've seen other posts on the forum where it's been stated that when I'm discharged (form 5)then I can basically conduct my affairs as I wish. This is contrary to what CF have put in my letter. Is there any definitive answer on where I stand or is it a case of it varying form one trustee to another?
30/10/2015 12:29 pm
Hi Bruce.
I'm glad to hear that transition worked out OK for you. More importantly, I'm sure a lot of other people reading this who are in a similar position will also be very reassured.
I recollect Mark writing here previously that releasing control over your home is an intrinsic part of providing you with your discharge. As such, I'm not sure why there would be any restriction on you selling your home now.
Having said that, and especially with something so important, exercising a little caution is probably wise. I'd suggest confirming with your ex-trustee that they are happy for you to proceed with this. It would seem very unfair that you're prevented from going ahead so I'd be surprised if they stood in your way.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
30/10/2015 12:37 pm
Hi TDA
Thanks for the reply. As I understood it from Marks posts, the inhibition should be lifted when Form 5 was issued.
I believe I can check if this has been done online via the land registry. Not completely sure what I'm looking for though.
I guess I'll have a look and see if all ok there and then contact my case manager at CF.
30/10/2015 12:46 pm
It's the Register of Inhibitions and Adjudications that you need to look at, though it is on the same site.
You are correct though, the inhibition is lifted just prior to the form 5 being registered. The form 5 means that you have met all of your obligations and there should be no reason that you cannot sell your property.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
30/10/2015 12:48 pm
Ok thanks Kevin. I'll have a look and take it from there. Let you know how I get on.
Topic starter
30/10/2015 1:01 pm
Kevin ,I've had a look on the Register of Inhibitions on the registers for Scotland website. Is this correct? Its' giving me option of downloading a letter template. Do I have to send this away or can I access the info the info directly online. The site is not very clear, to me any way.
31/10/2015 2:13 am
Great post this one and just shows how helpfull this forum can be:)
03/11/2015 9:33 am
There is a small fee every time you perform a search, Bruce, £3 I think, so I presume you would need to register your details and payment method first before you can access the online services. If you go to the Registers of Scotland home page you should be able to find a link to do this.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
