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Scottish Trust Deed Forum
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Topic starter
03/10/2013 10:03 pm
Hi
I've just recently completed a trust deed (June 2013) and I'm having some problems clearing up my credit file.
All of my debts have been wiped from my credit file apart from a loan that I took out with HBOS in 2007. On my credit file it shows that the account entered default in June 2007 and it has been recorded as being in default every month up until August this year.
As far as I have been led to believe no default notice should be recorded on this account past the date that the trust deed was entered into (April 2008) and that the debt should now be listed as settled.
I have written to HBOS requesting that they update their records however I have received the following reply:
"Having checked our files, I can confirm that I am unable to grant your request to remove the information held at the Credit Reference Agencies as it is correct and shows a true reflection of the conduct of the account.
The entry remains registered on file for a period of 6 years from the date of default in accordance with the Consumer Credit act 1974."
Is this information correct or should I still request that the information is updated to reflect my discharge?
Any advice would be greatly appreciated.
Regards
Craig
04/10/2013 8:23 am
Welcome to the forum Craig.
I think there is a bit of confusion here between formal "default notices" which are a one-off event and an account being updated on a monthly basis as being in default.
The former should be dated on or before the start of your trust deed, be marked satisfied or partially satisfied upon completion, and the balance be set to zero.
The latter I'm afraid you can do little about, though as previously stated the balance should be set to zero. It's an accurate record that you aren't meeting the contractual debt repayment terms, until your discharge at least.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/10/2013 4:31 pm
I am not sure this is the case in the latter as the debt has been dealth with throught the trust deed. Have a look at the CCA there is a reference to that effect somewhere. Also If you enter a trust deed you can no longer honor the agreement therefore the information in the credit report is misleading in this instance and that accuracy is protected under the DPA the ICO can give you support in resolving the issue.
Topic starter
22/03/2014 12:01 pm
Thanks for your replies, been fairly busy for the past few months so it's taken me a while to get back to dealing with this. After doing a little more research I believe that HBOS are well within there rights to update my account on a monthly basis as being in default, however the date of the original default does not coincide with the date of the start of my trust deed. Are you aware of any form of template letter that I could send to HBOS to ensure that this time they update my credit file with the accurate information?
Thanks
Craig
Topic starter
22/03/2014 12:07 pm
Also the balance on the account still does not show as settled.
22/03/2014 12:09 pm
Both should be updated.
I'm not aware of any specific template letter that I'd recommend, though the request and their responsibilities are quite clear.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
