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Jimuc
Frequent Contributor

31 Posts

Posted - 05 February 2019 :  18:58:45  Show Profile  Reply with Quote
Hi All.
I wanted to let you all know that today I made my last payment to my TD. After 48 months the end has came. For those wondering about entering a TD .... itís been the most positive thing that I have done to amend my ability to manage my finances correctly.
This forum has been a great help with answering those questions that needs a response from one of the experts on the site, or from other peopleís own experiences.

I was with Carrington Dean and finally Credit Fix, they were outstanding across the last 4 years.

Any thoughts on the typical timescales for being discharged now the final payment has been made.

Jimuc.

TDA (Debt Adviser)
Trust Deed Expert



12803 Posts

Posted - 06 February 2019 :  09:24:02  Show Profile  Reply with Quote
Congratulations to you Jimuc.

It's great to read that you've found positives from working through the situation. Thank you for your kind words about the site as well.

There aren't really any typical timescales for discharge. Your trustee may be able to give you an idea of how things will work from here.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Sharon Toal
Trust Deed Expert



321 Posts

Posted - 06 February 2019 :  12:07:06  Show Profile  Reply with Quote
Congratulations Jimuc - it is a great feeling !

Most firms will discharge the case quickly depending on tying up loose administrative ends.

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

134 Posts

Posted - 06 February 2019 :  12:52:40  Show Profile  Reply with Quote
Hi Jimuc,

Congratulations on the successful completion of your Trust Deed.

Itís really encouraging to hear that you have had such a positive experience on your own Trust Deed and something which you would recommend to other people who may be financially struggling.

I think as long as a Trust Deed is set up correctly at the outset with everything covered then it should run smoothly and without any problems.

Best thing to do is to touch base with your Trustee to let them know you have made your final payment and ask them when you can expect to receive your Form 5 Certificate of Discharge. I would say a timescale of 4-6 weeks from final payment to receipt of this is ok.

Enjoy being debt free and the extra money every month. Hopefully a few celebratory drinks this weekend.
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Jimuc
Frequent Contributor

31 Posts

Posted - 08 February 2019 :  19:41:40  Show Profile  Reply with Quote
Hi all.
Thanks for the replies. I will keep supporting and advising if possible on the site for those who may be considering a PTD.
Best wishes Jimuc
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TDA (Debt Adviser)
Trust Deed Expert



12803 Posts

Posted - 08 February 2019 :  20:57:53  Show Profile  Reply with Quote
That would be amazing Jimuc.

My favourite part of this site has always been when people whoíve got to the other end of the process share reassurance and experience with new visitors.

Itís unbelievably powerful when people are (understandably) finding it really tough to make a big decision after experiencing a hard time. So much more Ďrealí than when it comes from someone who does this as their work.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    

Edited by - TDA (Debt Adviser) on 08 February 2019 20:59:11
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Swandog
Advanced Contributor

134 Posts

Posted - 11 February 2019 :  12:05:40  Show Profile  Reply with Quote
Great to hear Jimuc about helping with advice where possible.

Feedback from people who have actually been through the journey I think is more powerful than anything else and can really help to reassure people at the start of their debt free journey.
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