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Scottish Trust Deed Forum
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Topic starter
25/01/2017 2:29 pm
Hi,
I'm getting quite frustrated by my trustee company. I competed my trust deed in April 2016 but I have not received my discharge letter. I called them on December last year as I was aware that it can take quite a while but now I'm thinking almost a year is taking the mickey. When I spoke to someone in December the woman stated that it can take up to a year for everything to be finalised as they are waiting on some companies to send them something. She stated that she would put a note on my file to see if it can be pushed through quicker but it seems that nothing is being done. Surely if I have received the letter stating all my payments are done and they will discharge me asap then they should have done this by now? When I check my clearscore credit report and check on closed accounts the outstanding balance remains on two of my old accounts that were part of my trust deed with no further actions on them since the year of my trust deed started, that can't be right surely? Has anyone got any advice?
25/01/2017 2:53 pm
Welcome to the forum Jules66.
We hear that different firms take a very different amount of time to discharge their clients. I'm afraid that they're not subject to any specific expectation regarding how long they should take after a customer has completed their obligations.
Many firms are prepared to discharge their customer within weeks of completing their obligations.
In these cases the trustee him/herself will typically remain 'in office' (not discharged) while they complete the additional work they need to do before they also can be discharged.
Other firms seem not to discharge their client quite so quickly while the trustee carries on finishing their own work.
Creditors would not be under any obligation to update your credit file until you have been formally discharged. They do have to update your credit file once you have been discharged even if your trustee has not. Often some will need "prodding" to actually make this happen.
I cannot really comment on whether your experience is "right" or not. What I would say is that it seems pretty reasonable for customers of trust deed providers to receive a reasonably prompt discharge once they've completed their part of the bargain.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
