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Scottish Trust Deed Forum
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Topic starter
04/02/2013 11:28 am
OK - now I have made my final payment!!! Yahoo!!!
My last payment came out on 1st February - but I am keen to get things cleaned up on my credit report. I have signed up for Credit Expert - costly but seemed the best for my needs.
To my surprise, I am rated as Fair, with a score of 787. I was expecting to be rated as 'Very Poor'. I have 5 defaulted accounts that were all included in the trust deed. And I have 6 listed as satisfactory, one of which is my car which I am still paying for on HP.
I had look through the report and I cannot find anywhere a reference to my Trust Deed or anything similar, what section would it be under?
I am also tempted to add a note to my defaulted accounts explaining the reason why (relationship break up) - but I don't know if this is a good idea?
And finally - I have had a look at some prepaid credit cards or credit builders. Can I apply now or should I wait for discharge?
04/02/2013 12:35 pm
Hi Scotslad.
Congratulations on making your final payment... it must be a real weight off your shoulders?
Check the dates of the default notices. They shouldn't be dated substantially after the date that your trust deed began. Let us know if they are.
I'm not sure if adding notes will help you greatly as most lenders use automated systems that will not read the comments. Equally, I cannot see how it would do you any harm either.
I'm afraid it's a little while since I last looked at this type of report. Is there a section regarding insolvencies or legal actions on there?
A prepaid card will not do anything to help your credit record. One of the prepaid cards with a credit building function might do. I'm sure you can apply for one of those now but you might want to wait for discharge to be sure.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
04/02/2013 12:38 pm
There is a section for that, but nothing is listed...
04/02/2013 12:40 pm
They may have just missed it ScotsLad.
You'll probably not want to be putting a complaint in?!!
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
04/02/2013 12:56 pm
If they've missed it it's their problem. I found the record on AIB site, so it's been put through, My first thought was OH GOD IT'S BEEN THREE YEARS FOR NOTHING...
04/02/2013 1:08 pm
Your credit report is just a third party viewpoint on your financial status ScotsLad.
As far as you're concerned I don't suppose it matters at all if something like this doesn't appear. It certainly doesn't mean that your debts will not be discharged once you are discharged.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
04/02/2013 1:14 pm
Indeed - I will need to check other credit reference agencies too.
Can I apply for a credit builder card now or should I wait for my discharge form?
04/02/2013 1:18 pm
I think I'd be surprised if they turned you down now ScotsLad.
The amount of "credit" offered is minimal.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
04/02/2013 1:22 pm
quote:
Originally posted by Trust Deed Assistant
I think I'd be surprised if they turned you down now ScotsLad.The amount of "credit" offered is minimal.
Yeah, I intend to buy my lunch with it, and pay it back in full every month.
04/02/2013 4:26 pm
The way CreditBuilder functions work is that they "loan" you a tiny amount (perhaps £12) which they then deduct steadily as part of your monthly fee (perhaps at a rate of £1 per month) until it is cleared.
You basically have a small loan that will hopefully record current up-to-date payments to provide a positive recent line of credit that is reported to the credit reference agencies.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
04/02/2013 10:22 pm
Dont add notices of correction. Get defaults correctly dated etc but dont add correction notices. They cause nothing but bother.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
05/02/2013 3:06 pm
Thanks.
Should the default date be the date I signed my Trust Deed? Some are listed about 8 months after I signed the TD.
05/02/2013 3:26 pm
That's correct ScotsLad, on or around that date. You'll want them backdated or they'll hang around on your credit file for longer than necessary.
This article may help you:
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
