Welcome to the forum Corsadavid.

The repayment term has increased, but only very recently.

It isn't retrospective so it sounds very much like you're finished.

It also sounds like you might be due a payment being returned to you.

I started payments in May 2012 so would these changes implement in people who are in last few months of their sequestration?

No. Not retrospective.

Only applies to people who entered sequestration after the rule change.

I don't think that the changes will affect people like you Corsadavid.

If I've understood properly, the important date is 1 April 2015.

So, if a creditor makes you bankrupt, the important document is the Warrant to Cite. The one which tells you that the creditor wants to make you bankrupt, and you have the right to turn up in court to put your own case across.

If the Warrant to Cite was dated before 1 April 2105, then your bankruptcy/sequestration is covered by the old rules - including the fact that you would make payments for 36 months max.

If the Warrant to Cite is dated 1 April 2015 or after, then the new rules apply - including payments for 48 months. That's assuming that you're assessed as being able to make payments.

If you apply/applied for your own bankruptcy, then it's the same principle, but the key document is the date your bankruptcy is awarded (you'll get the Award with the letter from the Accountant in Bankruptcy).

So, if the Award is dated before 1 April 2015, it's the old rules. On or after 1 April 2015, it's the new rules.

Like TDA, I think that you've probably finished making your payments AND you're due a refund for one of them! [:)]

Double check with your trustee on Monday, naturally

Edited to add: TDA beat me to it - and said it more concisely! So - 'Wot she said'! [:D]

So I think what we're both saying Corsadavid, is that you can relax and stop worrying about this.

It looks like you're finished now.

Thanks guys appreciate the time and effort 🙂

Hi Corsadavid

Remember and contact your trustee and get the last payment refunded. I suspect the have forgotten to cancel the standing order instruction, so probably best to contact your bank and have this cancelled.

Mark

Thanks mark I'll update you on what happens tomorrow

Thanks mark I'll update you on what happens tomorrow

No problem, better in your bank than theirs. Especially if they are not entitled to it.

Mark

Thanks mark I'll update you on what happens tomorrow