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Scottish Trust Deed Forum
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Topic starter
05/06/2012 11:57 am
Ok, my protected trust deed started in 2009 and is due to complete November 2012.
I'm just not clear about discharge etc. If my final payment is in November then when can I expect to be discharged? How do my trustees make their money? Will there be any unexpected monies that are still outstanding.
When I enterd the trust deed I had negative equity and three years later little has changed. My salary has not increased and my circumstance is the same.
I'm just confused about how the process ends and what happens come November.
05/06/2012 12:10 pm
Hi poorweeme
Once you have made the final of the 36 payments, your trustee should be able to finalise the trust deed in 4-6 weeks.
The process is fairly simple, although some firms do seem to over complicate things. Your Trustee will seek their final fee, pay the final dividend and issue you with Form 5 which discharges you from the trust deed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
05/06/2012 12:12 pm
Hi poorweeme.
We hear from some of our experts that discharge should only take a few weeks, and from some members that their firms are taking many months. I'd suggest you call your trust deed firm and seek an expectation from them.
You may wish to check at the same time whether you'll have any further responsibilities under the agreement you made.
The fees are drawn from the money you have paid into the protected trust deed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
