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26/09/2024 8:50 pm
Hello.
I am due to pay my last instalment for my Trust Deed this month.
I have a few questions about the discharge process.
Once I make my final payment, will this happen automatically or do I need to do anything further. My worry is the organisation looking after my Trust Deed hasn't been the most proactive so I'm worried I won't get my certificate. The official date my trust deed should finish is 31st October 2024.
I also have some questions in terms of my Credit File and when the PTD will drop off from my credit report as well as default payments.
I signed the trust deed off on 28th April 2020. My PTD was published on the register on 4th May 2020 the objection deadline was 8th June 2020 and my trust deed became protected as of 11th June 2020. On the register it shows my Trust deed as signed on 28th April 2020 and became protected on 11th June 2020 (so that information is correct).
My question is what date should this drop from my credit file. I understand it stays on my credit file for 6 years, therefore will it drop off from April 2026, June 2026 or October 2026? I'm not sure if it drops off 6 years from when I signed the TD, when it became protected or when I'm officially discharged.
Also in terms of my default payments. At the time I signed my trust deed I was advised not to pay any of my creditors and of course these are showing as default payments throughout the timeline of my trust deed.
Should these default payments also disappear from my credit file at the same time as my PTD?
Thank you,
This topic was modified 2 weeks ago by lizr
27/09/2024 5:28 pm
Hi Lizz,
You shouldn't need to do anything else if your payments have been made. It seems to vary between TD providers how long it will take to get your actual discharge form.
However as you have already identified, the main issue for you will be tidying up your credit file. The TD will drop off 6 years after the date of signing. Not the date of protection or discharge. That bit will be straight forward in that it will automatically drop off after that date.
As for the defaults, that will be less than straightforward. I have posted this on several other threads but in short, the default dates on all of the debts included in the TD should be dated no later than the date of signing. However it's pretty common for them to be out of alignment. If any are dated before the date of signing your TD, that isn't an issue. If any are dated after that date, you need to contact them individually and get them to amend the dates. I've done a response on how to do this on the "Incorrect Default Dates" thread.
Give me a shout if you need any more help.
