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Scottish Trust Deed Forum
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Topic starter
30/07/2023 8:45 am
Hello,
My trust deed is protected (PTD ) two years ago, I am paying my PTD contributions of £300 every month to debt advisor firm and they are distributing the same to my creditors.
The problem is now, the creditors (banks, credit card companies) are still reporting debt as a default every month to credit report agencies even after trust deed is protected (PTD). I am paying my PTD contributions of £300 every month to debt advisor firm and I never missed my contribution on PTD to debt advisor firm.
Under given above circumstances, is this normal that the creditors still report to credit report agencies that the debt is default even after PTD is setup, PTD is operational with debt solutions company?
How long the creditors report like this as a default? What’s the solution to fix the problem?
Please advise me, thank you
Regards
Lee
31/07/2023 12:11 pm
Hi Lee. I'm afraid that technically your debts are in default, so the lenders in question are within their rights to continue to report them as such and usually do.
Once you successfully complete your Trust Deed and are discharged from your debts then the creditors should update your credit file to show the debts as "settled" or "satisfied". The original date of default will still show until it disappears 6 years later (though if this is after the date of your PTD being signed then you should be able to get this amended by them so that it shows that date instead).
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
31/07/2023 12:26 pm
Thanks Kevin, You are very helpful.
