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Regular Contributor

21 Posts

Posted - 04 June 2018 :  19:57:19  Show Profile  Reply with Quote

I just wanted to say thank you to everyone who has given advice and guidance over the last 4 years while Iíve been in TD. I canít quite believe that Iím saying this but TD now completed and I have received Form 5 in post today!

For anyone considering a TD Iíd say:-
I entered the TD because of a change in personal circumstances and it wasnít something (morally) I ever felt really comfortable with but by doing things this way it has allowed me to be financially stable again and stop the anxiety of worrying about how I was going to pay bills and live week to week with my daughters. Once the first few months were underway I got more used to it and I used the income and expenditure guidelines as a tool for budgeting - I saved using a Christmas Club with the credit union which my trustee knew about and supported. Any changes at all to my income - I.e my annual increment I made sure I declared and on occasions my payment was altered accordingly. I found that the outgoings calculation was more than fair and I managed to clothe, feed, car maintenance etc every month. The 4 years passed fairly quickly and with no real incident (fingers crossed this will continue)

I am now starting to get statements in from some of the lenders I previously had - detailing balances on accounts - I assumed this would now say £0 but this doesnít
appear to be the case so il need to find out what the process for this should be to have this concluded and closed off?

I would also like to look into re-mortgaging my house with my existing lender at some point in the future - perhaps a years time.

Anyway thank you again to everyone who has given advice - it was much appreciated. Iím sure il continue to lurk - just in case I can be of help to anyone else!


TDA (Debt Adviser)
Trust Deed Expert

12746 Posts

Posted - 05 June 2018 :  09:24:05  Show Profile  Reply with Quote
What a lovely post Nel. Our congratulations to you.

Your creditors will not be immediately aware of your discharge and will need to update their systems with this information once they are.

My suggestion would be to leave it a month and check your credit file (plus any letters you're receiving) at that time.

Hopefully some of the creditors will have made the appropriate updates. Others you will be able to chase up if this is a priority for you.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Kevin Mapstone
Trust Deed Expert

3649 Posts

Posted - 06 June 2018 :  10:58:40  Show Profile  Reply with Quote
Glag to hear that everything has worked well for you Nel, I'm sure many others feeling trepidatious and just starting out on the same journey will find your words of great comfort.

Best of luck for the future. Hopefully you won't need to do too much to get those creditors to update their files.

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

71 Posts

Posted - 14 June 2018 :  10:25:14  Show Profile  Reply with Quote
Congratulations on completing your Trust Deed Nel.
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