Welcome to the forum lerski10.

From your perspective - you have been discharged. Your trustee met their obligation to you to do this after you completed your obligations to your trust deed.

You can expect your credit record to be updated to show this, but you may need to contact creditors who are reporting information incorrectly yourself in order to force this to happen. You could have started doing this when you were first discharged around a year ago.

The lack of trustee discharge shouldn't hold you back in any real sense.

Anything that goes on your credit file stays there for six years - so there will be no sign of your trust deed on your credit report six years after it began (not finished).

quote:

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Originally posted by TDA (Debt Adviser)
[br]Welcome to the forum lerski10.

From your perspective - you have been discharged. Your trustee met their obligation to you to do this after you completed your obligations to your trust deed.

You can expect your credit record to be updated to show this, but you may need to contact creditors who are reporting information incorrectly yourself in order to force this to happen. You could have started doing this when you were first discharged around a year ago.

The lack of trustee discharge shouldn't hold you back in any real sense.

Anything that goes on your credit file stays there for six years - so there will be no sign of your trust deed on your credit report six years after it began (not finished).

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Many thanks for your quick response. I have already been in touch with my creditors and they will not release me from this until the PPI claims are resolved. The complication is that my PPI claim is with my creditor. Is there a way that I can make them update this accurately regardless of the fact that my PPI claim is not resolved?

Also, and I'm not sure if you would know this, why did my trust deed administrator not start these PPI investigations at the time when I entered my trust deed? As far as I'm concerned they had 4 years to do this so it should all be resolved by now. My administrator is failing to answer any of my correspondence or give me any information as to what to expect and how long these things take. I appreciate my case is not a priority and I don't require a response within hours or days but it's been over 5 weeks since I last conntacted them and I've not heard anything back at all.

I would also like the insolvency register updated- can you advise when I would expect this to happen? Would it be at the discharge or after the PPI claim is resolved?

I also wanted to ask if I would get anything back from the PPI claim. I appeciate that I have had debt which, although settled, wasn't paid in full and I accept that my trust deed would get the PPI refund. However, what about the interest/compensation, I don't feel that it's fair that the whole sum is kept- particularly when it could be argued that if I didn't have PPI to pay my loans may have been more manageable and I might not have ended up in this situation. Furthermore, on another level, it could be argued that the bank deceived and de-frauded me without my knowledge, and I am not being compensated for that. The money that they pay out they will be getting straight back.

Finally, the claims have been ongoing since April/May this year, how long is it reasonable for this to take?

Apologies, I understand there are a lot of questions here but as my trust deed administrator is not answering any of my emails I'm not sure how to find out.

Hi lerski10.

Your creditors are wrong. Make a formal complaint to them. If they don't resolve the complaint to your satisfaction you can then take the matter to the Information Commissioner and/or the Financial Ombudsman Service. The key point is that you have been discharged from your debts by your trustee - credit reporting should reflect this.

I can't answer your question about the timing of starting PPI claims (as you expected!) but it shouldn't make any real difference to you anyway given the above.

I'm afraid that your entry on the Register of Insolvencies is going to be there for one year from the date of your trustee's discharge when that happens.

You will not normally get to keep any of the PPI payments unless the total paid over to your trust deed (including your contributions and the PPI) exceeds the total of:
1 - Your debts when the trust deed began.
2 - Interest on those debts.
3 - The fees of your trustee.
Any surplus in excess of this total should go back to you.

I can't tell you how long PPI claims will take. It's probably not helpful if your trustee has left this late to start. Having said that, some banks have caused massive delays to the PPI claim process by obstructing and refusing legitimate claims, and the Financial Ombudsman Service has a waiting list to solve these deadlocked cases as a result of the sheer volume that has gone to them.

quote:

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Originally posted by TDA (Debt Adviser)
[br]Hi lerski10.

Your creditors are wrong. Make a formal complaint to them. If they don't resolve the complaint to your satisfaction you can then take the matter to the Information Commissioner and/or the Financial Ombudsman Service. The key point is that you have been discharged from your debts by your trustee - credit reporting should reflect this.

I can't answer your question about the timing of starting PPI claims (as you expected!) but it shouldn't make any real difference to you anyway given the above.

I'm afraid that your entry on the Register of Insolvencies is going to be there for one year from the date of your trustee's discharge when that happens.

You will not normally get to keep any of the PPI payments unless the total paid over to your trust deed (including your contributions and the PPI) exceeds the total of:
1 - Your debts when the trust deed began.
2 - Interest on those debts.
3 - The fees of your trustee.
Any surplus in excess of this total should go back to you.

I can't tell you how long PPI claims will take. It's probably not helpful if your trustee has left this late to start. Having said that, some banks have caused massive delays to the PPI claim process by obstructing and refusing legitimate claims, and the Financial Ombudsman Service has a waiting list to solve these deadlocked cases as a result of the sheer volume that has gone to them.

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Thank you so much for your help. I've learned more this afternoon than I have from my trustee over the last 5 months. This has been very helpful!

I'm glad I could help lerski10.

Best wishes with getting everything properly updated by your ex-creditors.

Well done on completing your trust deed as well by the way - it's no small achievement.

Hi lerski10,

Well done on successfully completing your Trust Deed and receiving your discharge.

I can understand you frustration regarding this.

PPI investigations are unfortunately an extremely time consuming process for Trustees. Most firms will have thousands of active investigations which will ultimately delay the Trustees discharge. It's generally quicker for an individual to investigate these directly with the organisation as they are the customer. Everything a Trustee or claims company do takes longer and is done in writing but a Trustee needs to investigate it and won't take the word of an individual just in case there is PPI which was missed or they were not aware of.

Like TDA has advised though the fact the Trustee is still in office should have no impact on your credit file. With a little bit of effort you should be able to tidy your credit report up to ensure it accurately reflects your current position.

Good luck for the future, enjoy being debt free and let us know how you get on repairing and rebuilding your credit report.

Hi both. Many thanks for your advice to date. I've now received a letter from RBS Recoveries about the debt. Bear in mind I made my last payment in May 2014- should this not be closed off by now? I'm going to call them but before I do I would just like to confirm my position. Many thanks.

Hi lerski10.

What does the letter say?

Have you taken any action in respect of your credit file yet?

It says that they send this letter because the are obliged to send 1 every 6 months. It then shows the loan balance and what is required to satisfy the loan. The trust deed was for this loan only- it was the only debt I had. I thought initially it was a timing thing but it can't be now.

I've not been in touch re my credit file. I couldn't easily find the contact details so I was putting it off till after Xmas. This letter has put it back to the top of my agenda though!

Hi again.

I don't think this letter changes anything lerski10.

You'll want to contact them as soon as you're able to in order to address your credit file concerns and so that these letters stop coming.

In the interim, please be reassured that any creditor included in your trust deed cannot do anything to collect money that is clearly no longer owed to them.