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Scottish Trust Deed Forum
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Topic starter
12/04/2012 5:24 pm
still awaiting closure from td after over 4yrs due to ppi & vat refunds to be finalised. would like to retire soon but am concerned that pension lump sum can be taken from me. have been told by td that closure could take up to another 1 - 3yrs how long can they keep you in limbo?
12/04/2012 5:46 pm
Welcome to the trust deed forum redadair.
The issue of VAT and trust deed fees was somewhat unexpected and quite legitimately caused some delays while insolvency practitioners took advice on how to proceed. Having said that, I think most firms now know where they stand and should be able to close cases.
In terms of PPI reclaims it may depend when you signed your trust deed. Was it before or after April 2008?
You're right to be cautious about taking a pension lump sum. Perhaps you could ask for written confirmation from your trustee as to whether you could take this payment without creating a further liability to your trust deed? That seems fair enough if you've done everything you said you would and the reason for delayed trust deed discharge is out of your control.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
13/04/2012 3:56 pm
Hi, Yes i think you should be careful about your lump sum- Do not take it unless you are discharged.
Shona is not currently posting in the Trust-Deed.co.uk forum.
