Notifications
Clear all
Scottish Trust Deed Forum
5
Posts
3
Users
0
Reactions
2,764
Views
Topic starter
10/04/2017 6:11 pm
David thank you, have looked at posts from Firewalker and have now direction to start building credit.
Just would like to check after reading other posts..regarding selling my home.
I paid a £500.00 pound 3rd party payment at the beginning of my trust deed back in 2013 toward my home. My relationship manager advised at the time that after I was discharged. I would not need to pay any profit to the trust deed. I did contact my Trustee and my relationship manager has confirmed verbally that I quote I am now "Free and any profit would be mine".
I have been granted a Debtor Discharge Date 09/01/2017 I also received a letter from my Trustee confirming the above date ie Debtor discharge.
Reading some forum messages a form 5 has been mentioned...I have not received this and am now a little concerned.
Should I wait until receiving this form 5 and should I wait until my Trustee discharge date shows on the AIB. Your view would be very much appreciated.
10/04/2017 6:20 pm
Hi Happydays.
Your discharge is official as of the date that it appears on the (online) Register of Insolvencies. That update is performed when the AIB receives a copy of your Form 5 from your trustee.
Have you checked the register?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
10/04/2017 7:12 pm
Hi TDA
Yes it appears on the register as....Debtor Discharge Date 09/01/2017.
What does not appear is the Trustee discharge date.
Should I wait for this or is the Debtor Discharge Date considered to be the form 5 and can I sell my Home as their may be some profit which my wife could use to purchase new home as she was not part of my Trust Deed.
Thank you in advance
11/04/2017 9:55 am
Hi Happydays,
As TDA has advised your Trust Deed discharge is official once a date of discharge is placed on the Register of Insolvencies. The Trustee discharge date may not appear for some time (3-12 months) from now as that is when the Trustee has completed their obligations and made payments to all of the creditors.
You should have received a Form 5 certificate of discharge in the post. If you haven’t you want to speak with your Trustee to ask for this. This is your official confirmation (along with the Register of Insolvencies) that you have successfully completed your Trust Deed and received your discharge. You can also save a copy of the Register of Insolvencies extract which can come in useful in the future if you need to write to a creditor to confirm the position.
As you have received your discharge there shouldn’t be any issues in you selling the property. You may wish to just check this with your Trustee and perhaps ask for confirmation in writing from them that they won’t have an interest in the sale.
Also, there will have be an “Inhibition” placed against you whilst you were in the Trust Deed. You want to clarify with the Trustee that this has been removed as this will temporarily stop the sale of the house until it’s been resolved.
David is not currently posting in the Trust-Deed.co.uk forum
11/04/2017 10:29 am
I do think it's worth having a word with the trustee here before putting the property on the market.
We've always been pretty clear in our minds that this is fine once you have been formally discharged.
I am conscious however that some visitors have initially been told otherwise by their former trustee. From memory the trustee subsequently backtracked on each occasion, but not before some real concern had been caused.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
