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Scottish Trust Deed Forum
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Topic starter
19/07/2013 9:56 am
As you can see from the title im heyin major trouble with cleaning up my credit files especially with northern rock who have decided to show the account as being active again and being shown on my file as open and in default.i have wrote a letter to the people who bought the debt over and also virgin money as was told they bought over northern rock.These letters were sent recorded deleivery and had no response.can anybody advise please.one more question i have is when does a default start from the date when you actually sign the trust deed or when you start paying it.signed in may defaults show july.six years up next year ats why im askin and it will all get wiped i hope.One more question what is a sensible amount oh time to leave before applying for a mortgage once youve saved a deposit and cleaned up your credit file.would it be once eeverythin is wiped from credit files.Few questions but help appreciated.
19/07/2013 10:06 am
Hi golf20.
If you're not getting a response the next step would be to make formal complaints to them. They then have to respond within set timescales.
Are you talking about an account marked as being in default, or a formal Default Notice that has been issued?
I'm afraid the mortgage question is unanswerable, partly because the trust deed is just one factor amongst many others. I'd be guided by a mortgage broker on this, but eventually the only way you're going to get an answer is by applying.
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Topic starter
19/07/2013 9:16 pm
Cheers trust deed assistant.yes its an account marked as default so should it be wiped in may or july.Is there not any specialist mortgage companies for folk who have come out oh trust deeds also.
19/07/2013 11:24 pm
Hi golf20.
Each lender has a different appetite for risk.
Some might see the trust deed as a big risk factor, others the type of work you do, others the loan to value you need, others the type of property that you wish to buy etc.
The list of factors is long. A mortgage broker will try to match your circumstances and risk factors and needs to a lender that is likely to be amenable. Focussing on the trust deed alone when looking for a lender is unlikely to be helpful, it's one important part of a bigger jigsaw.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
