Hi David

Yes, best contact them as the missed payments should signify completion in June or thereabouts.

If I were you, I'd ask for a full summary of all payments made to date and the exact amount required to complete the trust deed. Oh! & ensure its in writing!

Mark

cheers mark, your clients that missed you today should be ashamed of themselves judging by the speed of that response.

Hi David

No probs. comes with the job, plus only happened twice in 5 years.

Response time is easy, telly's rubbish!

Mark

mark
I have read my credit file will be affected for 6 years after trust deed has ended. I would love to move home before that and continue my mortgage but not pay ridiculous rates. Is this a pipe dream in current climate?

Hi david

It's 6 years from the start of the trust deed, not the end.

I think the biggest factor will be the deposit on any new property. It all boils down to exposure to the lender. The bigger the deposit, the less the exposure.

Mark

Hi david jb.

Making predictions about mortgages is a really tough one.

5 years ago someone currently in a trust deed (or bankrupt) would have had few difficulties in arranging a 95% loan-to-value remortgage.

Today, a well-paid professional in an almost totally secure position with an unblemished credit record might struggle to borrow on the same terms.

To back-up Mark's comments, a trust deed will no longer show on your credit file 6 years after it starts. That's just one piece of the mortgage jigsaw though. Deposit, earnings, financial commitments and your credit score will all be relevant when the time comes. Possibly the biggest factor though, and this one is out of your control, is what the prevalent lending conditions are at the time.

many thanks for your replies, after my td has finally completed do I need to write to any creditors or even invocas to make sure my credit file has been updated or must I wait for the full six years.

Hi david jb.

Your credit file isn't something that Invocas, or any other trust deed firm, have responsibilities in connection to as part of handling a trust deed for you.

The trust deed will show on your credit file for six years from the start. There is nothing you can do to change this if the information is recorded correctly.

You may need to write to some of your creditors depending upon what you find on your credit report a month or two after you have been discharged.

Have a read of our "life after a trust deed" page (it's on the main site menu) which contains a bit more information on this subject.