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Mack86
New Member

3 Posts

Posted - 20 October 2020 :  11:04:47  Show Profile  Reply with Quote
Looking for some urgent advice February 2018 I applied for a Trust Deed but this never was protected due to majority of creditors not agreeing. Bankruptcy was never filed for after this, unfortunately I lost a loved one but inherited some money and cleared my debt off.

January 2020 myself and partner separated and with this I was browsing my credit file and realised there was an active IVA on my account. I looked in to how I get rid of this and was then held up with Corona Virus.

August 2020 I have spoken with the debt management company who helped clear my debt, they contacted the trust deed company I applied for and they clarified that it was not them that sent this in formation for credit file and must have been one of the creditors that agreed to this and placed on my file.

I contacted equifax who seem to have a complete miscommunication and understanding of what I need as they keep saying that when the AIB update the information and we get confirmation that your Trust Deed is now complete we will remove from file. They will never update that information because as far as AIB see it, it does not exist.

I contacted AIB myself and recieved a letter that I was able to give to EquifaxI also sent my letter from Trust deed company stating I never entered in to a protected deed.

I contacted AIB again to explain that equifax have written to them and waiting for reply AIB are saying this not the case and they cant help with my credit file. So I am at a loss.

Please can anyone help me get this sorted and 6 years this is affecting my life for something that didn't even happen.

Mandy Mackenzie

TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 20 October 2020 :  11:49:49  Show Profile  Reply with Quote
Welcome to the trust deed forum Mack86.

This won't be the answer that you want to hear I'm afraid, but my understanding is that it's the act of signing a trust deed, rather than a trust deed becoming protected, that's the relevant event here.

I'm going to qualify this whole reply however by saying that we don't claim to be credit file experts. This is just my understanding based upon general experience in this forum and as a debt adviser.

I believe that once you signed the trust deed it came into existence, it's just that it was an unprotected trust deed rather than a protected trust deed. I therefore think that it's correct that the trust deed would be added to your credit file at that time.

The event that would trigger the credit reference agency to record this insolvency on your credit file would be when it's added to the register of insolvencies, which would have been when your trust deed was advertised to your creditors (before they failed to agree to allow it to become protected).

Anything that goes on your credit file stays there for six years, so unfortunately I think a record of your trust deed will remain there until February 2024.

There is a separate question I guess about whether it should also be recorded on your credit file that you have been discharged from your trust deed (but not from your debts at the time) as this is potentially less damaging than having a record that appears to show that your trust deed is still ongoing.

Have you looked on the register of insolvencies (it's online) to see whether you're still listed on it? If you are, is there a debtor and/or trustee discharge date listed on there?

Records on this register cease to be public one year after your trustee is discharged, so if you cannot see your entry there you may need to get the Accountant in Bankruptcy to confirm these dates in writing from their internal records. Once you've got that in writing you may be able to get the credit reference agencies to at least mark your record as having been discharged from the trust deed when that occurred.

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

Edited by - TDA (Debt Adviser) on 20 October 2020 11:50:45
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Mack86
New Member

3 Posts

Posted - 20 October 2020 :  12:10:58  Show Profile  Reply with Quote
Hi

Thank you for your response.

So even though I did not enter in to the deed it will still show as active for 6 years, I u derstand that it would be in there like any finance you apply for but as active is what I am fighting.

I have contacted Aib and this is what they have said they can see a it started in 21st Feb 2018 and was advertised to register if insolvencies on 3rd March but was not submitted by company to AIB for protection and therefore erases from thier system after 15 weeks the AIB have confirmed to me that I am not currently subject to an insolvency product.

I have this letter from AIB proving this but equifax won't accept this letter and have told me they have contacted AIB and AIB have said they have not.

So my question is where else can I go for help to get this sorted as I can not get any finance or a mortgage due to this.

My credit score is sitting at 352 at Very Poor for no reason at all

Mandy Mackenzie
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TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 20 October 2020 :  12:29:34  Show Profile  Reply with Quote
Hi Mack86,

You've two places you can take this matter to now:

1 - The Financial Ombudsman Service. If you feel that any credit reference agency has treated you unfairly and you're unhappy with their response to your complaint you can then take the matter to the FOS. They can intervene and require financial services firms to take corrective action if they agree with your complaint.

2 - The Information Commissioner's Office. Credit reference agencies are required, under data protection law, to only report accurate information about you. If you believe they are reporting incorrect information about you this becomes a data protection matter and the ICO may intervene with the firm on your behalf if they believe you're being treated unfairly.

If it were me I'd probably escalate the matter to both.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Mack86
New Member

3 Posts

Posted - 20 October 2020 :  12:32:48  Show Profile  Reply with Quote
Hi

Thank you for this I will try both if these avenues.

I assume that the addresses/emails are easily found on the web.

Thank you again

Mandy Mackenzie
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TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 20 October 2020 :  12:35:15  Show Profile  Reply with Quote
Yes Mack86.

Two major organisations with multiple ways that you can get in touch with them.

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