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Scottish Trust Deed Forum
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Topic starter
31/01/2013 10:02 am
Hello all.
I have been in a trust deed for a year now and thought it was time to check everything was correct on my credit profile. Upon checking this from Noodle, I have found that my debts included in the trust deed have been defaulting every single month, even after the TD has been secured.
Could someone tell me if this is correct? As I'd assume by this that the debts will default every month until the end of the TD?? That would mean an extra 6 years to clear the defaults after the TD. Appreciate your help.
31/01/2013 10:34 am
Hi patch1334,
As Trust Deed's don't normally make a payment to each one of your creditors until the end of the period, creditors can still place default notices against your file as they are not receiving payments.
Once a payment is paid to each one of your creditors at the end then they should update the record to say that the balance has been satisfied or partially settled.
We advise someone entering into a Trust Deed that it can have an impact on your credit file for up to 6 years following the completion of your Trust Deed.
There have been some really good posts on credit ratings on the forum in the past which may help you with rebuilding your file.
Chris is not currently posting in the Trust-Deed.co.uk forum.
31/01/2013 5:42 pm
Are they actually issuing a default every month or just continuing to mark the account in default??
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
31/01/2013 5:45 pm
Good point Paul.
A Default Notice can only be issued once (and it should be on or around the start of the trust deed that it is dated).
Marking that an account is in default is a slightly different thing and should stop upon discharge anyway.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
