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11 Posts

Posted - 24 September 2020 :  15:03:52  Show Profile  Reply with Quote

I'm in my final few months of my Trust Deed (Last payment due April 2021).

I'm just after other peoples experience of this times;

Did you have a final review over the last few months?
When did you decide to look into your credit file to make sure it was up to date(although I'm already ahead of this haha)?
Did you contact your trustee to see if there was anything else required, or did you just pay the last payment and wait for the discharge?
How long did the discharge take to come through?
How long did you wait until trying for some credit (A high rate credit card for example) to quickly start building up again?

Sorry for the good few questions but I'm hoping to be able to be in the best position possible to HOPEFULLY be accepted for a mortgage in 2 1/2 years roughly.


Regular Contributor

17 Posts

Posted - 24 September 2020 :  17:36:51  Show Profile  Reply with Quote
Hi gibbo8907
I was released on July 20th this year.
I received my discharge by post 4 weeks later.
I did not have a final review even although it was due July time.
I am just chasing 1 company now to update my credit file to settled and £0 for this I went through complaints procedure.
I havenít applied for any credit so unfortunately cannot answer that one
So all very quick really and credit score is improving.

Hope this helps

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Paul McDougall
Trust Deed Expert

94 Posts

Posted - 30 September 2020 :  12:21:55  Show Profile  Reply with Quote

Congratulations for reaching this mile stone. Nearly there.

The review is either completed every 6 months or every year depending on the firm.

Your Trustee will contact you to cancel payment.

Discharge Form 5 usually is quite quick but it never a bad idea to contact your trustee when you have made your final payment to chase this up.

There have been quite a number of posts re credit report. If you have a quick look at previous posts.


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