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Scottish Trust Deed Forum
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Topic starter
20/03/2014 10:42 pm
Hi all. Been a long time since I've been on, so a quick history first.
Trust Deed signed June 2008, discharged 3 years later as planned. Got a Vanquis card, always paid off every month, even managed to get a joint account with my missus with an overdraft that's used for emergencies but always paid off come payday.
Anyway, a couple of nights ago the bank phones and talks to the wife about her loan. She's had it since before we got together and we've renewed it a few times for extra cash when needed, always in her name. This time they offer us some money at a really good rate, which is really good timing as I'm about to pass my motorcycle test and want to buy a bike, and we're also in line for a council house and will need funds for the move.
I take a few hours off work yesterday and head to the bank with the missus. Turns out the guys who phoned was the bank manager. We chat about the special offer and he leaves us alone with some figures to discuss it. We decided how much we'd like and let him know. He goes through the motions, and then gives a spiel about credit checks, etc. I explain that the bank does know I was discharged and am coming up on 6 years, but he says it will be fine due to our account conduct, etc.
Lo and behold, I'm declined straight away. They wouldn't even give the same rate to my missus, who's had the loan for years, without dropping the amount, lengthening the payback period and costing us a lot more each month anyway.
The bank knew about my trust deed from opening the joint account, I've been busting my ass to make sure I don't get into trouble again, and I'm still getting nowhere.
He even tried to tell me that even though my 6 year anniversary is almost up, the defaults will stay on my record for a while, which I'm sure is a load of crap. Need to get the records checked so my anniversary dates are correct so I can get this monkey off my back.
Sorry, rant over.
20/03/2014 10:55 pm
Feel free to rant, Bob - it must be very frustrating.
It's up to them whether they want to lend you money and on what terms, but what I don't understand is why they lead you to believe it would be available in the first place if it's not. What a waste of your time.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
21/03/2014 7:20 am
It was very frustrating Kevin, and I'm still pissed off about it all. The way he sounded on the phone and in the office was that this was no problem, and it had to be in my name as I didn't have a loan with them to get the "special rate".
I seen a letter template somewhere to send to my creditors to make sure my anniversary date is correct. Can't find it anywhere now (it was a few years ago) - does anyone know where I can find a copy?
Cheers
Topic starter
21/03/2014 12:03 pm
Found this on the web, can one of the experts let me know if this would still be relevant please:
Data Control Officer
Data controller address
Date
Dear Sirs
Re: Account Number xxxxxxxxxxx
After consultation with both the Information Commissioner and the Credit Reference Agencies, I am writing directly to you to request that you formally update my credit files in accordance with the Data Protection Act.
I signed a trust deed on XXXXX which became protected and was subsequently discharged on <Date of Discharge>, and <name of creditor> was included within the Trust Deed. For your convenience I have attached my Discharge Notification and a copy of the original Trust Deed.
Currently the information that you have recorded against my name with the Credit Reference Agencies is factually incorrect and as yet your company has failed to correct the entries as required.
ÔÇó It is requested that if you intend to default the account, the default entry must be <Date if your bankruptcy>, in accordance with the Data Protection Act.
ÔÇó It is requested that you mark the account in some way as to indicate that it is settled or satisfied, in accordance with the Data Protection Act.
ÔÇó If you have sold the debt on, according to the Information Commissioner, you are still liable to ensure that both you and the new holder are aware and that as the originator of the information it is your responsibility to ensure that it is corrected.
The Information Commissioner has indicated that I should allow you 28 calendar days from the date you receive this letter to comply, during this time you are requested either to update the Credit Reference Files correctly (of all three Credit Reference Agencies) or notify me in writing the reasons that you refuse to.
After the 28 days have elapsed the Information Commissioner has requested that I inform them if your company fails to update the records so that they may take any necessary enforcement action against your company.
I have copied the relevant information provided by the Information Commissioner as an attachment to this request.
Yours faithfully
21/03/2014 12:21 pm
Hi Kamikaze Bob.
Have you had a look at your credit file as yet to identify whether there is any information that needs changing?
You might be making some unnecessary work for yourself here. Much easier to deal with a couple of specific issues (if they exist) rather than to write to everyone without knowing whether or not they need to take action?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
21/03/2014 12:48 pm
I'm ordering my credit file today from Experian and Equifax. I got them a couple of years ago but didn't follow up at the time as other things got in the way. I know there are a few who are completely off, and strangely a couple weren't showing at all. I want to make sure they haven't suddenly defaulted me once I was discharged or something.
