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Just Joined

2 Posts

Posted - 01 August 2018 :  12:26:02  Show Profile  Reply with Quote
Hi first time poster!

I am just looking for some advice on a Trust Deed that I have with Kinghtsbridge, who are now Pinnacle Insolvency.

It was a 48 month Trust Deed and I made my final payment of 250 at the very start of July 2018. I contacted Pinnacle after my last payment had been made just to ask about what happens next. The person I talked said they had passed my Trust Deed over to the closure team and then explained the process of being discharged and said it may take up to 6 months but would usually be done before that.

I received an email from Pinnacle last week to inform me that my current Trust Deed handler was leaving so I had been appointed a new one. Now I know it had only been a month but I replied to my new handler just thanking them for their email and just inquired as to what the current status of me being discharged from my Trust Deed was at etc.

I received email back today which said my Trust Deed was currently awaiting review for the closure process to begin and that the process could take up to 12 months, the complete other end of the original time frame I was given previously.

Basically I was just looking for advice as to whether 12 months is a normal discharge period and that after one month, should it have progressed any further than 'awaiting review'.

Any help or info would be very much appreciated.

Lee Reid

Captain Sensible

8 Posts

Posted - 01 August 2018 :  12:40:46  Show Profile  Reply with Quote
Hi Lee

There's no 'normal' discharge period, different firms have different processes, and there's no statutory limit on how long they can take to issue you with your Form 5. My advice would be just to hound them for it as much as you can, maybe calling/emailing them on a weekly basis for an update. This may speed up the process for you.
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Frequent Contributor

27 Posts

Posted - 01 August 2018 :  22:03:43  Show Profile  Reply with Quote
As CS said hound them on a daily / weekly basis to receive your discharge. This will hopefully speed up the process. From final payment to your TD I would say an acceptable timescale is 6-8 weeks for your discharge.
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Just Joined

2 Posts

Posted - 02 August 2018 :  08:20:27  Show Profile  Reply with Quote

Many thanks for the responses and the advice.

I will definitely keep on top of them weekly for updates.

Thanks again


Lee Reid
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