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Black Night
Regular Contributor

21 Posts

Posted - 28 April 2017 :  17:41:30  Show Profile  Reply with Quote
Made my final payment today and it was a longish 45 months. I thought id be delighted and this morning I was. Im a little bit flat right now but I guess next payday the spirits will rise considerably. Ive been working towards this day for a long time. Bring on my form 5 day now.

TDA (Debt Adviser)
Trust Deed Expert



11867 Posts

Posted - 30 April 2017 :  09:23:58  Show Profile  Reply with Quote
Many congratulations to you Black Night.

You have much to look forward to in the coming weeks and months.

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David Tannock
Trust Deed Expert



1927 Posts

Posted - 02 May 2017 :  09:33:25  Show Profile  Reply with Quote
Hi Black Night.

Well done on successfully completing your Trust Deed.

Have you spoken to your Trustee about the next steps and when you can expect to receive your Form 5 (Discharge Certificate)?

Iím sure in the coming weeks/months you will start to feel a lot more positive about things and like you say once the next pay day comes around and you have extra money this should help.

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Kevin Mapstone
Trust Deed Expert



3315 Posts

Posted - 02 May 2017 :  09:57:05  Show Profile  Reply with Quote
Congratulations Black Knight - why not plan a wee treat for yourself with the money you are no longer paying out next month?

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Black Night
Regular Contributor

21 Posts

Posted - 03 May 2017 :  15:22:03  Show Profile  Reply with Quote
Thanks guys.
David yes I had an email exchange yesterday. They are saying the full process should take between 6- 12 months to complete but to expect my form 5 in a much shorter timscale so I will start to pester them in a couple of months if there is no contact. I also asked about PPI as I know they were investigating and it appears all cases are closed on my file so that shouldn't be holding things up.
Onwards and upwards.
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David Tannock
Trust Deed Expert



1927 Posts

Posted - 04 May 2017 :  12:37:25  Show Profile  Reply with Quote
Hi Black Night,

I would keep on top of your Trustee and chase up your Form 5 as this is your official discharge. The sooner you receive this the better as until you do then if you were to inherit or acquire an asset this could be ingathered into the Trust Deed.

My firm for example will aim to discharge a client and provide them with their Form 5 within 4-6 weeks of their final payment. If it was me I would give them a month then start chasing.

Itís also an important point for other people to clarify when they are seeking advice to deal with their debts. You want to be discharged as quickly as possible following your final payment.

Let us know how you get on and when you receive your Form 5.

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Black Night
Regular Contributor

21 Posts

Posted - 04 May 2017 :  17:23:14  Show Profile  Reply with Quote
I will do David Thanks.
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ibmstyle
Advanced Contributor

54 Posts

Posted - 05 May 2017 :  19:52:23  Show Profile  Reply with Quote
Hi my td was started in august 2013 and i emailed my td point of contact to find out about final payment and discharge but the time scale given to me seems a bit longer.how early can you be discharged and how long does it take for your name to be removed from register of insolvencies

See email received below

Thank you for your e-mail.

I can confirm that your final contribution payment towards the Trust Deed is due in September 2017, providing no payments are missed.

Once your final payment has been received the Trustee will prepare your discharge certificate and this will be forwarded to the Accountant in Bankruptcy for registration. You will not be discharged until the date this is registered on the Register of Insolvencies and this can take between 1-4 weeks.

The Trustee will remain in office to pay your creditors and finalise the Trust Deed and he will be unable to request his discharge until this is completed. As PPI investigations are completed, it will likely be an estimated 3-6 months for the Trustee to finalise the Trust Deed after your discharge.

Please note that your details will be automatically removed from the Register of Insolvencies, 1 year after the Trustees discharge date.

Should you have any further queries please do not hesitate to contact me on the number below.

Kind Regards
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David Tannock
Trust Deed Expert



1927 Posts

Posted - 08 May 2017 :  08:29:18  Show Profile  Reply with Quote
Hi ibmstyle,

From what you have posted it sounds to me like your Trustee has advised that once your final payment is paid it will be between 1-4 weeks for them to discharge you which I think is completely acceptable.

In terms of the Trustees discharge this can take longer than yours but this should have no impact on you or your credit rating. 3 to 6 months for this to happen from your final payment to me again is acceptable. The relevant part for you is your discharge and once you receive this you can then begin the process of rebuilding your credit file.

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ibmstyle
Advanced Contributor

54 Posts

Posted - 13 May 2017 :  10:45:01  Show Profile  Reply with Quote
Hello david thanks for replying.so if i am discharged will my name be removed from the AIB register or not until trustee is discharged?because i am applying for british naturalisation to home office and they also check for bankruptcy so should i wait and not apply until trustee is discharged or can i apply for my discharge thought its not a direct bankruptcy
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ibmstyle
Advanced Contributor

54 Posts

Posted - 13 May 2017 :  10:46:46  Show Profile  Reply with Quote

Hello david thanks for replying.so if i am discharged will my name be removed from the AIB register or not until trustee is discharged?because i am applying for british naturalisation to home office and they also check for bankruptcy so should i wait and not apply until trustee is discharged or can i apply after my discharge though TD is not a direct bankruptcy
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Kevin Mapstone
Trust Deed Expert



3315 Posts

Posted - 15 May 2017 :  08:51:02  Show Profile  Reply with Quote
Hi ibmstyle. Your name will be removed from the Register or Insolvencies 1 year after your trustee is discharged.

I don't know whether your trust deed showing on the register will cause you any problems in this regard to be honest. Maybe you could call them and ask?

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Diane
New Member

4 Posts

Posted - 17 May 2017 :  19:42:57  Show Profile  Reply with Quote
I made my last payment in September 2016 and can't get a straight answer as to when I will receive my discharge, I looked into my credit rating and according to that I will be under a td until august 2018, can you shed any light as to why Its taking so long and why it says 2018. My debt was for £8,000 and I've already paid over £10,000 and ppi has been obtained already.
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TDA (Debt Adviser)
Trust Deed Expert



11867 Posts

Posted - 18 May 2017 :  09:05:27  Show Profile  Reply with Quote
Hi Diane,

Your credit report is irrelevant here.

Please see the information on the other thread you've been posting on.

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