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Selling house after discharge

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(@bgm82)
Active Member
Joined: 8 years ago
Posts: 5
Topic starter  

Hi, I have completed my Trust Deed and received a letter with the following on it

 

“I write to confirm the Accountant in Bankruptcy has registered Form 5 and your discharge have been confirmed on
06/05/2024.
This is your confirmation that you are now discharged from the Trust Deed.”

And an e-mail from the company I had the trust deed with to say my trust deed was closed on 29/05/2024. I am just about to go through a divorce and will need to sell the house in the process. Does this mean I can sell the house and be able to use my share towards a fresh start without any of it going to creditors? Most of the accounts are now showing as settled on my credit report, only a couple that haven’t been updated showing still in default 

Bgm


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4253
 

That's correct, Bgm82 - congratulations on reaching the end!  Once you have been discharged you have no further liability for any of the debts that were part of your Trust Deed so any proceeds are yours.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@bgm82)
Active Member
Joined: 8 years ago
Posts: 5
Topic starter  

That’s great, thanks! It was a long road and tough at times, but such a good feeling to have completed it and be able to start afresh. I remember seeing folk come to the end of their trust deeds on here and it felt like my time would never come. So happy it’s finally here. 

Bgm


   
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