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Trust Deed Completion

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(@jewels174)
Eminent Member
Joined: 12 years ago
Posts: 20
Topic starter  

Good morning, was wondering if someone could help me with a couple of queries?
I have been discharged from my protected Trust Deed and has been recorded in the Register of Insolvencies. It states that my trustee has recalled the Notice of Inhibition that was lodged when I signed the trust deed - Can anyone advise what this means?

And secondly, it also states that the trustee will remain in office until they investigate PPI claims, which I don't think there will be any.

Where can I check that they have been officially discharged as I was hoping to apply for a mortgage with my partner at the end of this year.

Any help would be greatly appreciated. [:)]



   
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(@voice-reason)
Estimable Member
Joined: 13 years ago
Posts: 106
 

The Inhibition is a notice recorded at the Registers of Scotland to ensure the Trustee is notified if you attempted to purchase/sell a property or raise additional secured lending on a property which you own.

In terms of checking when the Trustee is discharged. They will send a copy of correspondence to you confirming this but you there is also an entry on the Register of Insolvencies which will be completed with their date of discharge when it goes through.



   
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(@jewels174)
Eminent Member
Joined: 12 years ago
Posts: 20
Topic starter  

Thanks for confirming that. DO you think that would cause any issues as I am currently saving up for a deposit to hopefully get a mortgage at the end of this year?

I have checked the Register of Insolvencies and cant seem to find anything. I was officially discharged 29/9/15. How long does this take for the Trustee to discharge themselves?

Thanks again



   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi Jewels174.

I doubt it will make any difference whether your trustee is discharged. The important date and event is your discharge.

Firms seem to vary quite widely in terms of how long it takes for the trustee to seek their own discharge. The amount of time also depends on external parties, for example banks taking an age to deal with PPI claims.


Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@jewels174)
Eminent Member
Joined: 12 years ago
Posts: 20
Topic starter  

Brilliant thanks for that. Was hoping this wouldn't hinder me as I am looking to apply for a mortgage and there has been a lot of encouragement on the forums that there is life after a Trust Deed. Thanks again for all your help on this.



   
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