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Scottish Trust Deed Forum
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Topic starter
29/01/2015 11:26 am
Hey there,
I have a little over a year of my TD left and I was wondering what the process is for discharge? I currently send two payslips to my trustee every 6 months but do they require this info again at the end? Also, what does the trustee look at prior to discharge? Do they need bank statements, a list of assets (I don't really have any apart from a car which I was allowed to keep) etc. before they are satisfied that the TD has been completed appropriately?
I have never missed a payment and I'm happy with the process so far but I read lots of stories on here about folk still waiting for a discharge, I just don't want to extend the TD process any longer than it has to be!
Any help/advise would be much appreciated.
Thanks!
29/01/2015 11:30 am
Welcome to the forum trustworthyindeed.
Different firms will handle discharge and closure in slightly different ways.
You might be asked to provide some information for a final review before being discharged. Your trustee should be able to tell you what they're likely to ask for so that you can be prepared.
They will need to check that your obligations have been completed. This will include being reassured that any assets you owned when you signed, or which have come into your possession since, have been treated appropriately according to the agreement that you made.
I'm afraid there does seem to be some variance between firms about how long they take to discharge their clients when their payments and all other obligations have been completed.
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