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 End of trust deed- what do I do?
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Rkrkrk89
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3 Posts

Posted - 30 October 2021 :  06:06:33  Show Profile  Reply with Quote
Hi

I have around 7 months left of my trust deed. Is there anything I need to do before it is completed? What exactly is the process my trustee takes to realise me from the trust deed?

Do I need to submit my expenses etc again?

Thank you

Rkrkrk89
New Member

3 Posts

Posted - 30 October 2021 :  06:07:44  Show Profile  Reply with Quote
Release not realise!
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TDA (Debt Adviser)
Trust Deed Expert



13851 Posts

Posted - 01 November 2021 :  09:12:48  Show Profile  Reply with Quote
Welcome to the trust deed forum Rkrkrk89.

There's nothing for you to do at this stage other than to focus on getting these final payments out of the way.

There isn't a fixed timeline for discharging you after you have completed your obligations, though we know that some trustees can and do get this done within a few weeks.

It's possible that there might be some final checks just to make sure your obligations have been fully completed. It seems that firms vary a little in their approach to this.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Rkrkrk89
New Member

3 Posts

Posted - 01 November 2021 :  09:14:23  Show Profile  Reply with Quote
Thank you- can I just check what exactly you mean by obligations? Is this just that I have made all my payments?
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TDA (Debt Adviser)
Trust Deed Expert



13851 Posts

Posted - 01 November 2021 :  09:17:59  Show Profile  Reply with Quote
That's right Rkrkrk89 - making the monthly payments is typically the main obligation.

Other obligations can arise if someone has an extra liability to pay in to cover equity they own in an asset, or of an extra liability has arisen as a result of things like an increase in income or having been gifted cash or other assets.

Essentially what I mean is having fulfilled all of the agreed terms of the trust deed.

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

Edited by - TDA (Debt Adviser) on 01 November 2021 09:18:09
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