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Scottish Trust Deed Forum
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Topic starter
20/01/2022 11:22 am
Hi everyone,
I received life changing help from the friendly people here just over 2 years ago now, decided that sequestration for the best option for me. That means I was discharged from bankruptcy a year ago and now continue to pay repayments for another 2 years.
I just logged into my account with Credit Karma to receive my free credit report update and noticed that two of my credit cards still show as active (with balances over their limit), however a unsecured loan of a much larger amount has now disappeared from the report.
Is it normal for credit card companies to stay as active accounts after a person has been discharged from sequestration?
I'm only asking as there is now no record (on Credit Karma at least) of the much larger unsecured personal loan.
Many thanks and best wishes to you all for a better 2022,
AP
20/01/2022 11:59 am
Hi AberdeenPhoenix,
It's great to hear that you have now been discharged from your bankruptcy and the debts.
Each of these accounts should have had a default notice issued at the time you became bankrupt (if they didn't have one already). Six years after the issue of the default notice the account will vanish from a credit report.
So I'd expect the credit cards and loan to show on your credit report at this stage. You may want to try one of the other credit report services to see if they're reporting the same information.
The credit card balances should be set to zero when you get discharged from bankruptcy. You may need to contact these credit card firms to request that this is done.
The following article includes information about these issues and also links to other free credit reports. It's written with regard to trust deeds but the same principles apply with sequestration:
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
