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Scottish Trust Deed Forum
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Topic starter
19/05/2011 10:49 pm
Hi there new to forum
I entered into a protected trust deed June 2007 and it finished in June 2010, i finally got discharged in march this year. My main listed creditor "santander bank" used to send me a statement every 6mos reminding me of my arrears throughout the duration of the PTD. The debt on this creditor say was 15k it was just a blank statement showing this 15k liability. Anyhow i got another statement of arrears from them today showing the Final PTD dividend showing as a credit against the account, a massive interest debit was taken off as well showing a new balance as an outstanding arrears. It was like they just showed the dividend as a payment against the account. This creditor was a listed creditor in the PTD.
Throughout the trust deed (invocas) i felt they were poor on the communication side of things, i got the impression there was a high turn over of staff, my account was handled by 2 different people who both left invocas during the PTD and it took for ever for dischargement almost 10mos. This letter has upset me and before i take a course of action was going to see what the general census was.
19/05/2011 11:36 pm
Welcome to the trust deed forum oscar11.
This seems to be a problem at Santander rather than resulting from any issue at your trust deed provider. It's also not the first time that Santander have been mentioned here recently in connection to similar issues.
I'd suggest calling Santander and asking that they correct their records. If they fail to do so you should make a formal complaint to them. Such complaints have to be dealt with within set timelines by the banks.
Please don't worry about this too much. The fact that you have completed your trust deed and been discharged means you do not owe Santander a penny and there is nothing whatsoever they can do to you. It's just a case that their administrative systems are, in this respect, sub-standard.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
19/05/2011 11:40 pm
Hi Oscar11
There appears to be a new requirement for creditors to send out annual statements. I don't think the paperwork you have is a demand in any way, just the creditor following procedure.
It's a pity that they took so long to finalise matters, especially if you have maintained your side of the proposal throughout the period. In my experience a number of firms concentrate on the cases per month rather than the quality of service they provide for ongoing Trust Deeds and that is extremely unfortunate.
I'm sure it will be fine, but please keep us posted.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
20/05/2011 10:00 pm
Ok Phoned Santander and they said they had a note of the trust deed and dischargement. They stated that the interest was the gross interest over the period of the loan. They stated they are not pursuing the debt but due to the terms and conditions of the initial loan agreement are obliged to show a statement every 6mos, he went on to say to expect a statement every 6 mos but to just ignore them. So was relieved with this. My only question tho would be surely i should now have no liability showing against my name and with the final dividend showing agaisnt the account they should now close this account.
20/05/2011 10:59 pm
I'm glad you feel relieved oscar11.
You have no debt to Santander so it's bizarre that they would continue to send a statement. As their employee seems to acknowledge, it makes no sense and I go back to my previous point about poor systems at Santander.
You might want to check your credit file and demand that it's updated if it still shows a debt. If they do not it might cause you issues in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
