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credit file after trust deed

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(@sjm750)
Eminent Member
Joined: 14 years ago
Posts: 31
Topic starter  

Hi

So I completed my trust deed in 2015, and my arrangement started 03/12.2011.

My credit file has all ยฃ0 balances and are marked settled or satisfied.

The default dates are close enough to the trust deed start date, so wont be on there any longer than they should be! ( 6 years )

Though the only one , thats not quite right is clydesdale bank. It shows as a ยฃ0 balance on the 2 entries, credit card and loan, and is marked as settled. But the dates showing account closed date is 01/10/2012, 10 months after my trust deed started.

Am I right in thinking that the dates should be similar to the start of my trust deed, like the other companies. Otherwise I will need to wait a further 10 months before that one falls off? Do you think its worthwhile contacting clydesdale bank? Whos in the right?

Cheers Steve


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi sjm750.

I guess they can mark an account as being closed if and when they actually close an account.

However, if a formal default notice was issued, my understanding is that this credit account should still fall off your credit file six years after the default notice was issued.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@firewalker)
Reputable Member
Joined: 13 years ago
Posts: 440
 

Hi SJM70

TDA is correct. Account can be marked closed with a date.
However, it is important that they have a default showing and with the Signing date (or very close to it) or it will run for six years after the closure date.

I had the same situation with Barclaycard. They did not show default - they had account closed. Strange as it seems I had to phone them to ask them to correct it to default with correct date.

If the default date is already showing with the correct date and it is earlier than the closed date, then the Default date will apply irrespective of the closed account date.


   
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(@sjm750)
Eminent Member
Joined: 14 years ago
Posts: 31
Topic starter  

Yeah that's the problem , there's no default date. Just an account closed date. So it would stay on longer , than if it was defaulted with the correct date! It's not every day , you ask to have a default to be put on your account!!


   
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(@pingpong)
Estimable Member
Joined: 13 years ago
Posts: 128
 

I get what you are saying but would have thought that if it was marked as closed and settled then this would not have a negative impact on your file. It is basically like saying the account concluded satisfactorily which is as good as you can get.

It would be an issue if it noted that there was a balance still outstanding.


   
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(@sjm750)
Eminent Member
Joined: 14 years ago
Posts: 31
Topic starter  

Yeah I'll ask if they can change the date, if not no drama's! All the other companies have obliged. Thanks for all your help.


   
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(@firewalker)
Reputable Member
Joined: 13 years ago
Posts: 440
 

Hi Pinpong

If the record of his payments shows Default and late/non payment (the red, amber and green circle records month by month on the credit files), it will continue to show those for six years after the account is closed.
That may not be a problem to SJM, but if he wants all lates and defaults gone, he may have to take steps to change this particular file record.


   
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