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03/03/2013 11:16 pm
As I get closer to the finishing line of my trust deed (9 payments left) I had a look at my credit file. To my surprise, last year, my largest creditor has marked the account as satisfied with a zero balance showing. I suspect this is related to a successful PPI claim by my trust deed firm back in 2011, but I did not expect the account to have been marked as satisfied.
To put this into context, I was originally in a debt management plan for a period of four years prior to going for a trust deed and over that time had managed to pay back nearly 60% of my outstanding debt. The PPI claim above, was just in excess of the outstanding amount, but I would have thought the creditor would hold the account open until such time I was discharged. In any case it's one less default on my credit file and hence less tidying up to do later.
Has anyone else ever experienced a creditor marking an account as satisfied during a trust deed?
04/03/2013 8:22 am
In short, never! Although I don't check credit reports I work in insolvency but have never had a client who has experienced this. Very strange.
Not that you will be complaining of course!
Rob is not currently posting in the Trust-Deed.co.uk forum.
05/03/2013 2:04 pm
Yes both first direct and northerrock did this on all my reports. it makes not one jot of difference as you will still have the td on for 3 years post discharge. Also dont pay any attention to certain expert credit reference sevices of which there are a few. I apparently have an excellent credit score but I am certain I will not be accepted for credit until the td comes off.
05/03/2013 2:30 pm
That's a fair point pingpong, but it will not apply to every lender.
They each have their own acceptance criteria.
For example, one may have a blanket blan on anyone with a trust deed on their credit file, another may only want to accept clients that have been discharged for a year or more, another may have no criteria in this respect at all.
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07/03/2013 9:20 pm
It could be that your Creditor has sold the debt on and they are satisfied, as the debt with them has been settled. as this has been the case with me I think. ie Max recovery have taken the debt fro 2 of my original creditors.
