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Scottish Trust Deed Forum
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Topic starter
14/11/2016 2:59 am
Hi, wonder if I could have a bit of advice please. I went into a trust deed in Aug 2011, everything went well, I was discharged from it in Nov 2014. Since then the company has been collecting mis-sold PPI, finally got the fifth anniversary letter from Apex saying they have written out to creditors and 14 days from this letter they will seek their discharge.
At the start of my TD I had 7 creditor but only 3 of them have submitted claims and these are the smaller amounts of money. Those that haven't claimed will they get their money or not? If not what happens then to my credit file as they are still showing default? should I be doing something?
Cheers AlphaB
14/11/2016 8:43 am
Creditors who do not claim will not receive a dividend out of the funds collected by your Trustee. This will not have an implication on your discharge from the deed or your liability. The non-claiming creditors would still have been bound by the terms of the deed and therefore have the seem responsibilities with regards to your credit file as those that did.
There would be no action required on your part.
14/11/2016 9:08 am
Hi AlphaB.
Regarding non-claiming creditors, you'd go about getting your credit file updated in exactly the same way as you would any other creditor.
They should have updated your credit file when you were discharged. If that hasn't happened (and this is important to you) then you'll want to start contacting them and requiring that this gets done.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
14/11/2016 5:29 pm
Thanks for the replies, what will happen to the money that the trustee is holding then? My contributions came to £12,000. Despite me saying I wasn't mis-sold ppi they managed to get just under £5,000. Their fees were just over £4,000 and only £3,000 has been claimed by creditors. That roughy leaves about £9,000 unaccounted for.
14/11/2016 5:47 pm
Hi AlphaB.
After claimed debts, interest on those debts, and the fees of your trustee, I guess there's a theoretical possibility of some funds being returned to you.
Best at this stage to speak to your trustee to see what the actual position is rather than the theoretical one though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
