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 Default date on credit file
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Corsa77
Just Joined

2 Posts

Posted - 20 May 2021 :  20:24:49  Show Profile  Reply with Quote
Hello,

I am in my second of four years of my Protected Trust Deed. It hasnít been easy, but Iím getting there and never want to be in this position again.

Long story short, I started sorting my credit file to what I was able to do so at the moment to get the default date back dated to the date my trust deed started which is what all the information online states I can do. Some sites say do this now, others say wait until discharge.

Three of my accounts were taken over by the same debt recovery company and since they have, they have caused me endless issues from bombarding me with texts, emails and calls wanting money, despite me being in a trust deed. I got that sorted, but then I raised the issues on my credit file with them and they basically refused to do anything other than adjust the default date, but they adjusted it to match the date of protection and not the date to the start date of my trust deed. Date of protection is two months later than my agreement start date.

I have taken this to The Financial Ombudsman, and the person investigating has got them to adjust one of the other issues I had on my file with them, but surprisingly the investigator is siding with the recovery agent and thinks the date of protection is the correct date for the default date.

Anything I find online, all states default dates can be back dated to the start date of the trust deed, but the investigator at the ombudsman is still siding with the recovery company and thinks they have been fair in adjusting the date to then.

I have repeatedly sent the investigator link after link, screen shots and documents which all show my argument, but they still refuse to advise the recovery agency to change the date to the date my agreement started.

I have also asked why they are siding with the recovery agency and was advised it is because there is nowhere in legislation that shows what the date should be, it was vague and was also because of evidence that the recovery agency has sent the investigator. I have asked for proof of what made them decide this and they said they have nothing in black and white and didnít think the information they have will help, itís her independent decision. But I have requested to see what information they have on file to shed some light.

My trust deed agent sent me more links and documents which I forwarded onto the investigator and still they refuse to advise the recovery agency to adjust the date to the start of my agreement.

As I do not agree with the investigatorís findings, it is now going to an Ombudsman, but I am so worried they will side with them and I get penalised two months longer than I should.

All the other agencies or companies that unfortunately had to go into the trust deed have changed the date no bother to the start date of my agreement, so I donít understand why the investigator seems to side with that one agency who has caused me so much issues and the only one that wonít adjust the date.

Can anyone on here perhaps advise in any way that I could potentially take back to the investigator to send to the Ombudsman to make the final decision.

Thank you in advance.

Paul

DBHA21
Frequent Contributor

31 Posts

Posted - 21 May 2021 :  09:53:50  Show Profile  Reply with Quote
Hi Corsa77,

Usually debt purchasers buy defaulted debts, so the default date listed by the debt purchaser should match the default date listed by the original creditor. If the original creditor served you the default notice, or first updated your credit file, it may be more fruitful to have them update the initial date of default

It may be that the investigator is used to (and therefore confusing Trust Deed with) IVAs - where the relationship at the outset is very different. Once you grant (sign) a Trust Deed, you have vested your estate in the Trustee and it is legally binding on you, whether creditors accede or not. Not only that, in signing it you have declared yourself apparently insolvent and you are unable to voluntarily terminate the Trust Deed - only your Trustee can do this.

Ultimately, I agree that the date of default should match (at the latest) the date of signing your Trust Deed. Hopefully an experienced Ombudsman will interpret it this way. Make sure you arm yourself with the original agreement, which should detail what constitutes a breach of the contract on your part.

Worst case scenario, if the Ombudsman does not side with you 2 months is a relatively short period of time.
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TDA (Debt Adviser)
Trust Deed Expert



13851 Posts

Posted - 21 May 2021 :  10:07:54  Show Profile  Reply with Quote
Welcome to the trust deed forum Corsa77.

This clearly all comes down to an understanding of when your trust deed began.

As DBHA21 has already written, you're legally bound by the trust deed from the date of signing. It has come into existence at this point in time.

One question you might want to ask the Ombudsman is, if the date of signing isn't relevant, why is it specifically listed within your record on the Register of Insolvencies? What purpose would that serve unless it's recording a significant event at the beginning of your trust deed?

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Corsa77
Just Joined

2 Posts

Posted - 21 November 2021 :  21:43:22  Show Profile  Reply with Quote
Hello,

Thank you for your advice, it was gratefully received. Apologies for the delay in updating/responding.

Long story short, I went to the the Financial Ombudsman Service with the above advice and more, but this was a complete waste of time, the investigator was obsessed with the date of protection and got stroppy when I kept asking for her to prove this with evidence and I was eventually lied to and told there was no guidance for recording of default dates in Trust Deeds... The investigator had the guidance from the Information Commissioners Office (ICO), but did not follow it.

To my surprise, even the ombudsman ruling sided with the investigator at keeping the default date as the protection date, as this was when the trust deed became legally binding. The ombudsman decided to make assumptions and interpretations as to what both dates mean, the FOS was a complete waste of time and I'm surprised that despite the staff supposedly having financial knowledge, not one of them got the workings of a Trust Deed right in their explanations. They also breached ICO guidance, that they are governed by, which is quite bad I think...

I refused to accept their reasons and took my complaint direct to the ICO.

There was a slight issue with them to start, as the investigator at the ICO thought the same as the FOS, but when I requested a manager deal with the issue, they eventually upheld my complaint. A right to rectification notice has been sent to the company who has three of my accounts, all with default date matching the protection date and they have been advised to update them to reflect the start date of the Trust Deed, so now when this is over everything falls off my credit file at the same time.

It was only two months, but given the fact I have experienced so many issues from the one company, I was not letting them away with it.

Being in a Trust Deed process is quite scary, and difficult, and I never want to go through this process again, but I have to say, it is sites like this that help so much, as it is amazing and has so much advice on it, from the experts, to people who have been or are going through debt management process.

Thank you again for your advice :)
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Kevin Mapstone
Trust Deed Expert



4029 Posts

Posted - 22 November 2021 :  09:17:59  Show Profile  Reply with Quote
Glad you got the right outcome in the end, Corsa77. I applaud you for your persistence!

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
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