Have you tried formally writing to Lloyd’s with a complaint? Sending it recorded delivery. What was the original date of default on that account?

Hi DADdude, thanks for the reply.

No, I've not formally written to them - I think part of not doing this is that I don't know the correct things to say, or points to highlight.

There are 2 accounts - one is 10/10/14 and the other is 13/10/14

Would a recorded delivery still work in these times? Would there be someone there who is collecting mail like this?

Hi,

As those accounts are defaulted it takes 6 years for them to be completely removed from your account. As the default dates are still within 6 years (by my calculations) they should both disappear October 2020, which ain’t too long away. If the record still remains after this you would have basis to complain to Lloyd’s would be my understanding but I ain’t no expert 🙂

Have a look at: https://forum.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=7364

Thinking further about it if you were to complain just now you maybe able to request via complaint why is it not showing as settled. Just don’t know if it’s worth it since it’s due off in October, I’m not sure how they are responding to mail just now or what timeframes in the pandemic. An email complaint would be ideal if you can find an email address online.

a good read and reference - thank you

I accept defaults stay on credit file for 6yrs - no real issue with that. I just don't understand how they can say the account is "open"

Whilst i'm no expert, I don't doubt the fact that this "open & defaulted" account still showing is completely impacting my ability to get a credit card offering a "reasonable" APR

I am obviously pleased that this is all sorted and is a complete weight off my shoulders - this little frustration still sits there, and I think part of my frustration is I just don't understand it all

This part caught my attention :
"Lenders shouldn't report inaccurate information about you. See Section (06) below regarding your data protection rights in this respect. Creditor reporting should change once you’ve been discharged. Too many lenders do a poor job of this. The three main problems areas are:

1. Default notices with issue dates after your trust deed began.
2. Default notices not marked as “satisfied” or “partially satisfied”.
3. Credit balances that haven’t been changed to zero.

It will be hard to improve your credit status if any of these problems exist. Resolving them may require you to take action"

Which I think highlights, particularly the last sentence - its hard to improve when they don't zero the balance?

I think with the points you have noted there it would be worth formalising a complaint on the basis it is inaccurate information that is recorded, also ask for some compensation for the stress caused. See how it goes. Try to find a Lloyd’s complaint email address online.

Hi nov2018.

I just wanted to add a couple of notes to the sound guidance you've already received from DASdude.

Lloyds definately should have marked any default notices as being satisfied or partially satisfied when you were discharged from your trust deed.

This often gets missed, which is frustrating but which also can be fixed.

The first step is to contact Lloyds and ask then to do this. You could go via their customer service route, or you could use their complaints route which has the advantage of imposing a timeline upon them to accept or reject your complaint.

You don't need any particular wording, just a call/email/letter stating that this should have been done when you were discharged and that you expect it to be done now.

If they don't fix the issue, you can take it to the Financial Ombudsman Service.

Irrespective of Covid-19 financial firms are still expected to deal with complaints within the usual timeline.

We've heard from a number of forum members who have received cash compensation as well as seeing their credit report updated when they've addressed this with banks and other lenders.

I think you've already seen it, but the following article addresses a number credit rating issues after being discharged from a trust deed (including a section specifically about default notices):

https://www.trust-deed.co.uk/repair-your-credit-rating.html

A satisfied or partially satisfied default notice will affect your credit status a little less than an unsatisfied default notice.

DASdude is absolutely correct that these default notices should disappear from your credit report altogether in a few months.