Protected Trust Deed Question ?

zebade

I have a question about my deed (Three Year Trust Deed), when should i expect my last payment to be taken, as it will be 3 years since i signed my deed in March.
Is it based on the day i signed the Deed, or is it when it became protected.

I'm getting nervous about being Debt free.

Antoine_Roquentin

If it's a three year deed it will be when you have made your 36th payment to the Trustee - you possibly could have paid a set up fee to a third party prior to signing. Probably be a couple of months before you receive your actual discharge as closing the case and paying out the dividend to creditors takes a bit of work.

Charco_2

Really shouldn't be an up front fee - IP could get in a lot of bother for that kind of thing in Scotland where the rules were only relaxed a little two years ago!

If you signed your Trust Deed in March three years ago (then you probably had to wait 5 weeks for it to become protected so...) you probably made your first payment in April so your last payment should be in March this year (36 payments). I'm sure your IP will be in touch with you soon enough to wrap up the formalities... also, ask your IP, don't be afraid of them - they're kind of working for you!

Lots of people come on here to ask questions that really would be best directed to their IPs - are people afraid of their IPs? (I know it's also nice to talk to like minded people on here and get second opinions, i'm not complaining about people asking questions, I'm just wondering!)