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Scottish Trust Deed Forum
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Topic starter
28/08/2018 12:45 am
Hi everyone! I have been using Noddle for a while, but recently signed up to Clearscore and MSE Credit Club, and can now check the "big 3" agencies. Unfortunately, I'm now just completely confused by the whole thing! I'd like to make sure everything is all in order following discharge from my Trust Deed, but I have no idea what I'm doing and these sites are not making things particularly clear!
Clearscore list my old accounts as 'closed'. Noddle say they are 'open'. MSE have a third option, and they are listed as 'default/ended'. Individual account histories aren't much better. Clearscore in particular don't present the information in a way that I can easily understand!
If I can give an example though, I wonder if anyone can shine any kind of light...
I signed TD Oct 2013. It became protected Jan 2014. Both myself and Trustee were discharged April 2018. A Barclays loan is showing similar data on both Noddle and MSE (but nothing on Clearscore!). Jan 2014 is marked "3", Feb is "4", Mar is "5" (this I understand is months without payment). From April, it shows as "D" (default), every month up to April 2018, and carrying on now into August.
With this particular example, I assume they shouldn't be marking anything past April? Should the 3,4, & 5 be changed, or does that not matter? And should the "D"s between becoming protected and being discharged be shown every month or should that have stopped early on? Finally, both being discharged, these should show as at least Partially Satisfied and/or closed?
Thanks in advance for sticking with me on this and for any advice you have!
Topic starter
28/08/2018 12:51 am
P.S. I have seen a lot of advice that suggests credit files can be fixed relatively easily yourself by contacting your former creditors etc. If however, I find myself really struggling to get to grips with it all, is there a (reliable) service I could use that would help?
28/08/2018 8:38 am
Rbryan
I would advise against instructing a third party to resolve this issue.
There are previous threads on this group offering advice and tips to sort out your credit report.
Sharon is no longer posting in the forum.
28/08/2018 10:09 am
Hi rbryan,
I can understand why you are feeling all confused about the credit rating issues. It’s confused me.
Not all lenders report to all credit reference agencies so it’s important to check the main ones. I think these are Noddle, Experian and Equifax.
From the information that other people on the forum have posted (Firewalker has been great – maybe do a search for that name to see the posts) it’s all about the one off “default date” that a lender places on your credit file. The information on your credit file should fall off 6 years from the date of the default and therefore you want to ensure that any default dates are as close to the start of your Trust Deed as possible. I don’t think you need to pay attention to the monthly defaults that go on. It’s more about the default date.
For the default dates to be changed you need to contact each lender and ask them to update the information and send them a copy of your Form 5 Certificate of Discharge. If you do that then 6 years from the start of your Trust Deed and from the default dates the negative information should fall off and leave any positive credit information you have.
In terms of paying a third party to “fix” your credit file I’m not sure how successful this is. I can’t remember seeing a post on the forum or speaking with anyone that has said they have done this and it’s helped.
David is not currently posting in the Trust-Deed.co.uk forum
28/08/2018 1:51 pm
Are any of the various entries still showing that a balance is outstanding, rbryan? If so then the various creditors should be amending this to zero. The entries should fall off your file altogether 6 years after the date of default, as I understand it, which should coincide with the date you signed your Trust Deed.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
28/08/2018 8:32 pm
Ok, so third-party is out!
Swandog, thanks for the tips, I'll check out Firewalker's stuff!
Kevin- they are still showing with balances. I'll get on to them about that and the default dates asap!
29/08/2018 2:24 pm
Your welcome. Firewalker has posted a lot on this subject and I have learned a lot from them so you will find the posts useful.
David is not currently posting in the Trust-Deed.co.uk forum
