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Scottish Trust Deed Forum
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Topic starter
06/02/2014 11:24 pm
Hi everyone
I recently finished a TD on August of last year.
After doing a credit check online I noticed my previous creditors had done their job and updated my credit file, all but one, Capital One!
After a couple letters and few phone calls they eventually closed my account and put the status as 'satisfied'.
First question, what's the difference between satisfied and settled? as my other creditors have put the latter.
They have also defaulted my account a few months after the TD all the way until they closed the account, this is wrong right?
I entered into a TD quickly as I knew I could never be able to afford the bills after losing my job; by doing this capital one was the only one to default me out of the three.
Did they even have the right to default me as they never done so until November and my TD started in August?
JUL AUG SEP OCT NOV
AA AA BB BB DF
This is what is shown on my credit file. To me it seems like they have ignored the fact that I'm in a TD and continued to mark me off as a non payer, could be wrong though!
Thanks in advance.
07/02/2014 8:46 am
Welcome to the forum MoMoney and congratulations for having completed your protected trust deed.
We're not experts on credit files, so don't take this as gospel.
I think that credit accounts are marked as being "settled" and that default notices issued on credit accounts are marked as being "satisfied". Does that make sense as you look at your record?
If Capital One issued a formal default notice on a date substantially beyond when you signed your trust deed you're within your rights to ask them to backdate it. That will get it off your record at the same time as the trust deed in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/02/2014 1:45 pm
Hi MoMoney
TDA has written what I have experienced. That is, normal accounts are marked as Settled. The defaulted accounts, when updated, are marked as Satisfied. I believe some companies mark as Partially Satisfied or PS.
Like you, the defaulted accounts were all marked as Defaulted. That reflects the situation of course. It is only when it is matched with Satisfied that it reflects you have paid through the Trust Deed.
If you paid in full directly it might show Settled after the default.
2 of my accounts are recorded with dates (up to 6 months) after the Trust Deed and I am trying to get those changed right now.
One shows me as having a satisfactory account but with an outstanding balance, so that has to be corrected.
Also, I am having to chase 2 of the lenders to update my file to show Satisfied (and correct Trust Deed dates). I have no idea why they are choosing to ignore my correspondence (3rd letter sent since October, all recorded delivery and the last of which specifically addressed to the Data Protection Officer). Next stage would be to seek help from the Information Commissioner or the credit reference agencies, at some point in the coming year.
Anyway, I am not allowing myself to be agitated about it right now since I have another 18 months to go before it would drop off naturally (after six years), but it is a bit disappointing when I am trying to move forward and get everything in order and showing correctly. I guess you feel similarly.
08/02/2014 9:39 am
Hi Firewalker, did you find template letters somewhere to use when writing to creditors? I am going to make a start on doing this this week.
Topic starter
08/02/2014 2:32 pm
Yes TDA that seems correct.
Firewalker you just need persevere with these companies as some go out their way to make it difficult for you. To me Capital One shouldn't have put my account into default, as they done so well after my trust deed had been signed! Not only this they set the default date to a couple months ago, this means it will drop off 6 years from then, not 6 years from the trust deed.
I'm not going to let it bother me because I know they are wrong and it's only a matter of time before it gets fixed.
So don't worry, just put it to the back of your mind.
In the meantime if you wish, I can forward you a template which my trustee sent (certainly helped) me along with a guide to repairing you credit file.
09/02/2014 9:02 pm
Hi MoMoney
That is kind of you. I used the templates recommended on here and it worked for all but 2 of them. I enclosed copies of Trust Deed discharge and also a copy of the Trust Deed update (start and finish and discharge statement) on my credit reference file to them showing that it had been updated by the AIB.
Bank of Scotland and MINT are playing games, bouncing me around from office to office. Just heard from them (Data Protection offic) on Saturday asking for me to send them a copy of the discharge - again. All delaying tactics. Hopefully it will be resolved this time.
Always happy to see if there is anything else that would work better though, so if you would be happy to to forward the letters that would be great. Thankyou.
I just read another post (think by Porcupine) that he had no interest in improving his credit scoring and wanted to live without credit. Actually I have no interest in obtaining cards etc. however, I may have to change from company car to private car and need to be able to get some finance at a reasonable rate which is why I am preparing the ground - just in case.
Hi CIF. I got the advice and templates on this site. I cannot find the link or section on the site just now - I am not sure where the templates are from the index at the side - sorry. Perhaps TDA can offer you the link or MoMoney share his template?
