JL083,

I'm glad to hear you have made it through the TD process and are waiting on your form 5 discharge. This is something that, should everything be completed, the Trustee may issue quickly. Is you Trustee claiming mis-sold PPI on your behalf? Did you own your own house? If so the Trustee may be recalling the inhibition. However, unlikely to hold up the form 5 too long. Give the trustee a call to enquire, this may help to speed things along.

Hi JL083,

Well done on the completion of your Trust Deed. How did you find the whole process of the Trust Deed JL083, has it worked for you?

As Rob said, providing everything has been concluded in your case then the Form 5 should be with you shortly. You may want to chase this up by giving your relationship manager/Trustee a quick call to see what is happening with your case.

In terms of applying for a credit card, this is something you can do at the moment if you want. As you will be aware the Trust Deed will have had a big impact on your credit rating but unless you apply you won't know if you will be able to obtain a credit card or not. People on the forum have advised that the company Vanquis are providing people with credit cards. I think that they have a high APR rate but if you use the credit card wisely you should be fine. This should help gradually rebuild your rating.

Good luck for the future and enjoy having the extra money.

Thanks guys for getting back to me x

Hi Rob I have not got a clue if my trustee is claiming PPI on my behalf, shld I get a letter from them saying that they are? What happens to the money if I am fortunate to get a refund, does my trust deed take it?

I don't own my own home so hopefully my discharge letter shld be out soon. Also what happens with the credit reference agencies does my trustee contact them to make my file as settled or will I have to do it?

Thanks again x

Hi JL083.

Just give them a call regarding the PPI. If they haven't already they're likely to need to look into this before discharging themselves.

This doesn't have to hold up your discharge from the protected trust deed, though sadly for a couple of particular firms it seems to.

Any PPI claims will be for the benefit of your creditors (the money will go into your trust deed).

Your trustee has no role in terms of liaising with credit reference agencies. You'll want to look into this yourself, perhaps a few weeks after you have been discharged.

Hi,

I didn't want to worry you but it would probably be an idea to give your relationship manager a call to clarify the above matters. If there is no PPI to claim and you have confirmed you do not own a property then It should be straightforward to send you your discharge. If there is PPI then it may delay this being issues depending on your TD firms own policy, again something that can be clarified. To be honest you would probably know if they were looking at PPI as they should have notified you of this previously.

JL083, congratulations on reaching the end of the road with your trust deed. I am in the same situation, last payment was in July and just waiting for confirmation that everything is concluded.

I had thought the restrictions imposed by the trust deed would remain until my trustee was discharged but presumably not if it is ok to apply for a credit card, learn something new every day.

Would also like to thank all on this forum, have been reading for a while now and found it very helpful, just wish I had known about this when i started.

Welcome to the forum RJH2013. It's always a pleasure when a long-time reader joins and posts for the first time!

The restrictions are lifted when you're discharged (though some people may remain in some small way committed if a trustee has remained in office to deal with a particular issue - typically PPI).

As a point of interest, there's no restriction placed upon an individual obtaining new credit (such as a credit card) before they're discharged. Obviously lenders may be less willing to offer credit and it typically will not be a good idea to do so anyway.

Thanks TDA. Have been told the PPI claim has been sorted out so hopefully the rest of the process won't take too long now.

Haven't received my form 5 either so presumably that means I have not yet been discharged from the trust deed.