Hi Bravator,

I waited until I had been discharged and received my "form 5" through the post, I was lucky and received this within a few weeks of the TD ending though. The reason for waiting is that the form 5 bears the actual date your trust deed was satisfied, and so you can send a copy of this to any creditors as proof that you have been discharged.

You want to make sure that all of your creditors do not mark your account as having been defaulted at any point AFTER the TD began (so your last day of default was the day your trust deed started).

then you want to request that they mark your debt as either "satisfied", or "partially satisfied" (which one they use depends on how much they were paid in relation to what you actually owed them i.e. if it was enough to fully clear the debt). the date at which it should be marked as satisfied, is the date of completion of your trust deed, which again is marked on your Form 5.

So whilst you dont necessarily need it, it is a good strong piece of evidence to use, I basically drafted up a standard letter, included a copy of my form 5, and just tweaked the dates depending on the creditor and sent it out to all of them (I emailed it first, and sent it by post the same day, just to cover all bases).

I hope this information is useful to you.

Cheers

Mick

Hi Bravator.

Brilliant advice and help from Mick.

It might be a little easier once your trustee is discharged, but you don't need to wait (it could be a long time).

Upon your discharge you're entitled to request updates.

I'm confused about what creditors must legally update on my credit file, but have taken note of the advice given on this and other sites about getting my accounts marked as satisfied.
I completed my TD last year and was discharged in November. Some creditors updated my report to show satisfied in Dec while others didn't. I wrote to all oustanding ones in Jan enclosing a copy of my F5. Now only 2 remain with the balance showing. Capital One say that they haven't received a dividend and so cannot update my file. On checking with my Trustee he confirmed this wouldn't be paid for another 2 months and said the creditors had no obligation to mark my accounts as satisfied Is this true as it doesn't follow this current thread?

Thanks for the advice mick, will start the ball rolling as have my form 5. Here's hoping they play ball 🙂

here is a copy of the "standardized" letter I used to send to the companies:

______________________________

Enter Creditor Address Here

Dear Sirs,

Re: Enter Description here e.g. RBS credit card/Halifax Loan etc

After consultation with both the Information Commissioner and the Credit Reference Agencies, I am writing directly to you to request that you formally update my credit files in accordance with the Data Protection Act.

I was entered into a protected trust deed on Enter TD Start Date and subsequently discharged on Enter Discharge Date, and Enter Creditor Name was included within the Trust Deed. For your convenience I have attached my Discharge Notification (Form 5).

Currently the information that you have recorded against my name with the Credit Reference Agencies is factually incorrect, as yet your company has failed to correct the entries as required.

ÔÇó It is required that if you intend to default the account, the default entry must be no later than TD Start Date, in accordance with the Data Protection Act.

ÔÇó It is required that you mark the account in some way as to indicate that it is settled or satisfied, on or before TD Completion Date, in accordance with the Data Protection Act.

The Information Commissioner has indicated that I should allow you 28 calendar days from the date you receive this information to comply, during this time you are requested either to update the Credit Reference Files correctly (of all three Credit Reference Agencies) or notify me in writing the reasons that you refuse to.

After the 28 days have elapsed the Information Commissioner has requested that I inform them if your company fails to update the records so that they may take any necessary enforcement action against your company.

Please note that if this account falls within the remit of the Financial Ombudsman Service, I will also be submitting a separate complaint to them regarding this matter if the Credit Reference Files are not correctly updated.

I have also sent this letter directly to your company in writing.

Yours faithfully,

Enter Name Here
_______________________________________

hopefully this is of some use to you.

Hi mick 1985
Thanks for that, this is a great help 🙂
Bravator

Hello haunted.

Here's what the Information Commissioner told us and what we think you can do. It contrasts with what you've been told and may be helpful to you:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

Thanks TDA. This and the thread above are really useful. Strange thing is after having a heated conversation with Capital One, they did update my credit file, but only on Experian. Equifax still shows the outstanding balance. I will give it a few more weeks before chasing them again. This time I will use the format in the last reply and quote the Data Protection Act and Information Commissioner.

I know this is not under the remit of my Trustee, it just seems he feels that people in TDs deserve everything they get...........

Perhaps haunted, though it would seem he's labouring under some misapprehensions about rights related to credit reports at a minimum.

I wouldn't point fingers at your trustee for that though. Insolvency practitioners, their staff and debt advisers like myself get virtually no training in this respect. I guess it simply falls outside of the remit of what we're expected to do.

Working on this forum for a few years and researching the occasional issue that comes up starts to fill in some gaps though.