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Scottish Trust Deed Forum
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Topic starter
19/08/2022 5:11 pm
Hi, I had a trust deed which ended in January 2022. Tesco bank are the only company who have not updated it as closed on my credit report. When I contacted them I have received an email back confirming they won’t close it until they receive written confirmation from the trustee even though I sent a copy of the form 5. They also confirmed they would only then contact the credit reference agencies to say it has been partially satisfied to the date the trust deed ended.
Would someone be able to tell me if this is correct as I thought they had to take the form 5 as evidence and it should be closed from the date the Trust deed started and not ended.
Many thanks
22/08/2022 9:51 am
The form 5 essentially is written confirmation signed off by the Trustee. They will have been notified of your discharge directly by the Trustee already too.
They have an obligation to ensure that the information they report about you is accurate, so your credit report should reflect that you no longer owe anything to them. If that is not the case and they refuse to update it then you might need to make a formal complaint to force the issue.
In terms of the date of closure, I think you are mixing up two different dates here. It is the date of default that shouldn't be later than the time you entered the Trust Deed, not the date the account was satisfied. The important date is the date of default anyway, as it is 6 years after this that the debt will disappear off the report.
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