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Trust deed nearly the end

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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there 

 

Just a few wee questions my husbands trust deed is soon due to finish , noticed it was signed on 14 June 2019 and then protected a month on from that what will the end date be the date it was signed ? 

I wrote on here last year as we had major problems with his new trustee carrington dean after being transferred to them from Wilson andrews , in the end a family member was allowed to pay his trust deed payments off a year early as in all the monthly instalment left upfront so we never hear from them after a official complaint. 
What happens now do we just receive this form 5 from them automatically or does my husband need to ask for it ? 
We are very reluctant to contact them as they are a bit of a nightmare to deal with over the phone and email ? 

thanks again 


   
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Paul McDougall
(@paul-mcdougall)
Member Moderator
Joined: 5 years ago
Posts: 164
 

Hi there 

I would recommend emailing the firm after the 14 June 2023 requesting a copy of the Form 5 Discharge. 

P

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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there Paul 

Thanks for your speedy reply I will get my husband to do this around that date we just can’t believe that’s it finally that time.

 

thanks 


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

@paul-mcdougall 

Hi there 

Just a wee update we got in contact with carrington dean and we have been informed that my husbands trust deed will finish on the 1st July 23, and then we will receive something in the post by the end of July , does that mean this will be updated on the register in the next few days? I take it now he will receive this form 5 and then what happens to the money outstanding does this get wiped ? 

Sorry for the questions they operator we spoke to didn’t really offer us any information to be honest.

 

thanks


   
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Paul McDougall
(@paul-mcdougall)
Member Moderator
Joined: 5 years ago
Posts: 164
 

Afternoon

That is good news indeed.

 

The Accountant in Bankruptcy will update the Register re the From 5 Discharge. The Trustee will seek to obtain their discharge but this will take longer as they will be required to conclude the administration of the case. 

 

Once the Trustee has been discharged, the balance outstanding to creditors will be written off. 

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there again Just a few wee things I was wanting to ask about ,  so do you know how long roughly the register takes to get Informed of your discharge , so it’s now 11 July and we were told my husbands trust deed finished on 1 July 23 , but he signed the trust deed on 14/6/19 , the aib register hasn’t been updated as of yet and not recieved any communication from his trust deed . 

Thanks again 


   
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Annmarie Macdonald
(@annmarie-macdonald)
Member Admin
Joined: 1 year ago
Posts: 38
 

@jellytot75 

Good afternoon it would depend on when your husband made his final Trust Deed payment.  Once this is received your Trustee will issue him with his Form 5.  This will then be updated by the Accountant in Bankruptcy of the Register of Insolvencies.  He should contact his Trustee and ask the question when he will receive his Form 5.  You previously indicated that this would by the end of July so it is still early days.

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


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there Annemarie 

 

Thanks for your reply my husband trust deed was paid off one year early by a family member on june 2022 a year before it was due to finish  after a lengthy complaint so we never receive any communication from his trustee all we were told was after 14/6/23 it would finish and form 5 sent out. So far nothing apart from us phoning them at end of June to ask the situation etc .

Hopefully as you say early days 


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there 

We contacted my husbands trustee again we are advised he was discharged on 01/07/23 and he should receive his form 5 within 6 months and also aib register be updated in 6 months ? We have queried this and they are now saying website will be updated within 3 weeks but form 5 won’t be till 6 months is this correct ? 

So sorry for all the questions etc we have never been in this position before and we seem to be getting told different things from his trustee 

 

thanks again 


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4237
 

The register of insolvencies is only updated with the date of a person's discharge after the Form 5 has been issued.  As such, I think you may find this happens within the 3 week timescale they have mentioned. I am guessing the person you spoke to may have been getting their wires crossed and the 6 month timescale is probably in relation to the Trustee's discharge, which is when the Trust Deed is finally closed down.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Hi there Kevin

 

Thankyou for your reply it’s just all so confusing the team we spoke today was the closures team which you would have thought they would have the right information we were told that form 4 was done on the 10/7/23 which then I asked do you not mean a form 5 ? They say he was discharged on the 1/07/23 and this form done on the 10th , then they said 6 month wait for register and the final closure of the trust deed , we queried this and was then told there was a mistake on his file and it would be rectified I guess it’s good to know he’s finally discharged after the 4 years etc but it’s just the admin of the trustee isn’t great hence us coming on here for advice which we are really grateful for, thanks for that we will let you know the outcome once we finally get it 

 

thanks 

jellytot75 


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

A update on our situation 

 

My husband finally received his form 5 by email this morning and was discharged today on the aib register, I must add only after I put another official complaint in to his trustee as all the information they were giving us over the phone was incorrect and he wasn’t discharged at all and adviser only told me this yesterday and advised it would be another 6 months for discharge and the winding up of his trust deed . 

We had put complaint in yesterday and overnight he was discharged, so hopefully we can now get on with things and put this all behind us .

 

thanks to everyone on here who has replied to myself and helped us with our queries 

 

thank you 


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4237
 

I'm glad to hear it finally got sorted out, though as you say it really shouldn't take so much effort and complaints to get to this point.  Certainly some very useful information for other forum members from all of this at least, so thanks for sharing your experiences here!

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@jellytot75)
Eminent Member
Joined: 2 years ago
Posts: 23
Topic starter  

Thanks Kevin for your replies , I actually thought I was going on and on lol about my complaints ha ha , we are so relieved that is us at the end of this journey.

 

We feel that there is more help and info setting up the trust deed than at the end as we weren’t sure how it all worked and thanks to this forum and other posts we have been given this info etc

 

Reading the email with the form 5 we noticed this sentence does this mean in plain terms that the whole thing will be wrapped up once and for all 

 

I expect that the final distribution of the debtors estate will be completed on 10/08/23 , I also expect the final realisation and distribution of the estate will be as summarised; 

 

It then goes into the things with the financial numbers etc we are reluctant to contact the trustee as we have lost a lot of faith in them .

thanks

 


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4237
 

Haha. Not at all - it's always good to share!

Once the final distribution has happened then your trustee can get their own discharge and then the whole thing is finished, yes.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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