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Scottish Trust Deed Forum
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23/01/2015 7:02 pm
My husband has a Trust Deed with Wilson Andrews. His last payment was made on 01/06/2014. He has been told since then that it was going to the closure team. He phoned last week and explained that it has now been going to the closure team for 7 months and wanted to know what was happening. He was told again it was going to the closure team and he would receive his discharge letter in 2 weeks. He phoned today (exactly 2 weeks later) to be told that the hold up was to do with our Life Insurance Policy. This was the first time since he started his Trust Deed (November 2010) that anyone has mentioned anything about any cash in value of our Life Insurance?? We do not hold that policy any more and have never held a Life Insurance Policy where you get any money back when you cancel the policy.
Can anyone give me some advice on how long Wilson Andrews can keep stringing him along for? They already added 6 months onto the 3 year Trust Deed and now so far have taken nearly 8 months since his last payment and they have still not released him.
Thank you
23/01/2015 10:08 pm
Welcome to the forum clm1983.
There are no set time periods regarding discharge, but it will not happen until the trustee is satisfied that such a policy has no cash in value.
Hopefully you can work with them to provide them with the evidence they need on this issue and a prompt discharge then follows.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/01/2015 11:32 pm
Seems to be a lot of folk saying get kept on for months lately. Totally unfair I think. They know how important it is for folk to move on. There is no way whatever thing it is they are looking into can take 7 months. Farcical
steve
24/01/2015 11:12 am
Was the policy discussed at the start. I know insurance policies wernt mentioned at my meeting. Wondering how they can bring these things up later or how they would even know about an insurance policy if it wasn't discussed?
29/01/2015 10:40 am
Dear clm1983
I am sorry your discharge paperwork has taken longer than promised.
I understand you have now received this but if you do need anything further please don't hesitate to let us know.
We wish you all the best for the future.
Thank you
Sarah ÔÇô A member of the team at Wilson Andrews.
