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 Defaults on credit file
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lilone
Frequent Contributor

26 Posts

Posted - 09 July 2019 :  17:15:41  Show Profile  Reply with Quote
Hello

Ive checked my score on total money and also have clearscore on total money it shows almost all of my credit accounts taken in to the trust deed as defaulting everymonth?! I thought this was meant to end when trust deed protected which was dec 2017 am now worried this will be on credit file forever? As hoping to get a mortgage once all ended

Any advice would be appreciated Thanks!

TDA (Debt Adviser)
Trust Deed Expert



12987 Posts

Posted - 09 July 2019 :  17:50:24  Show Profile  Reply with Quote
Hi lilone.

Each of your accounts should be issued with a single formal default notice, dated no later than the start of your trust deed beginning.

You're looking at the monthly "status reporting" but that should be irrelevant in the end.

Six years after the date that a default notice was issued, the account will no longer appear on your credit report.

There's a fuller section about this at the following page:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

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

Edited by - TDA (Debt Adviser) on 10 July 2019 09:08:27
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lilone
Frequent Contributor

26 Posts

Posted - 09 July 2019 :  18:05:30  Show Profile  Reply with Quote
Should i contact them or is this irrelevant ? Thanks for quick response
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TDA (Debt Adviser)
Trust Deed Expert



12987 Posts

Posted - 10 July 2019 :  09:08:06  Show Profile  Reply with Quote
Hi lilone.

The only reason I can see to contact the creditors is if they have issued the formal default notice significantly after your trust deed began.

You'd want them to backdate that if this was the case.

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

130 Posts

Posted - 10 July 2019 :  10:33:56  Show Profile  Reply with Quote
as long as your default date is the same as the date of your PTD, they will all come off at the same time (6 years from the date of first notice/signing pf PTD).

The accounts should be marked as settled or partially satisfied however, so look out for that and ask them to update accordingly. You might have to send them copies of your form 5 as proof etc but should be done quickly.

have a look at the ICO site https://ico.org.uk/your-data-matters/credit/
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TDA (Debt Adviser)
Trust Deed Expert



12987 Posts

Posted - 10 July 2019 :  10:41:54  Show Profile  Reply with Quote
Thanks for sharing this pingpong.

Lilone - with regards to the defaults being marked satisfied or partially satisfied - this will not happen until after you have been discharged.

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