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Topic starter
25/06/2014 11:59 pm
Evening all! I have been looking at my credit report, but to be honest, I don't really understand what I'm seeing. Obviously, being in a Trust Deed, I expect it to be quite negative at present. Where I'm confused, is the breakdown of individual debts and whether or not they are showing correctly. I'm using Noddle if this makes any difference to how it reads. Does anyone know much about these reports, or know somewhere I can go for advice? Obviously I'm not looking for credit now, but want to keep on top of things like this now, rather than in down the line if I do need credit.
My TD became protected in January. Basically, some accounts are reporting late payments after January ( "4month overdue" in March, "5month overdue in April), that the account defaulted in May/June. Does this sound right, or should they have simply defaulted in January? And this is another thing I really don't know much about- do they default the once, or do they default again every month from now until the TD ends?
I really am not the most financially savvy person!
26/06/2014 5:38 am
I wouldn't pay too much attention to your credit file at the moment. As you say, you won't be looking for any credit soon. Once you are discharged from your Trust Deed at the end it should change so that any default notices are altered to show a date around the time your TD became protected. They will also change from being in default to satisfied or settled. You may find at the time that you have to chase the occasional creditor yourself to update the credit reference agencies.
Glad that's over with....
26/06/2014 9:00 am
Hello TheShadow.
I very much agree with upstream here.
It will take your credit file a while to settle down and your creditors aren't all going to report to the credit reference agencies in the same way.
You could end up doing a load of work, for pretty much zero gain, then have to repeat it all after your discharge in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
26/06/2014 11:17 am
Hi TheShadow.
I echo what upstream and TDA has said. Mine were all over the place with default dates up to six months out. I waited until after I was discharged (Oct 13) and then set about having them corrected.
Some were easier than others. I experienced confusion in that they did not know it was the Trust Deed date to be used. Some were automatically updated, some it took one letter from me and others it took some months and several letters and calls to get them to correct it.
In the end, they are all now within one month of the Trust Deed signing date and I am happy enough with that. Not worth the effort and hassle for a month.
What this means is that the Trust Deed will disappear after six years on your file and the default accounts linked to that Trust Deed will disappear within a month of the Trust Deed disappearing. Then in general terms, it should not be reflected on the credit report.
I used Noddle which was free and found the site easy to interpret and the staff very helpful with any queries.
This is just to confirm the suggestion that you ignore the report for now. After your discharge you will have time to correct any dates necessary and you will have the discharge paperwork to help with that.
Topic starter
30/06/2014 6:05 pm
Thanks for the replies guys. I'll forget about it for now!
