Trust Deed Ended..
 
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Trust Deed Ended..

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(@debtfreeyay)
New Member
Joined: 1 year ago
Posts: 2
Topic starter  

Hi there, my trust deed ended in November and I was formally discharged in February 2023. I was hoping you could help with a few questions.

Debts are still showing on my credit file, who do I need to send a copy of my discharge form to and what do I say? 

I now aim to save up for a deposit, does anyone know if there is any chance of getting a mortgage before the trust deed falls off my file in November 2024

 

For anyone reading who isn't sure of getting into a trust deed, I would say, if you are in serious debt it can be life changing. I spent the past four years learning to budget and save up for purchases and I know I'll never ever make that same mistake again. I am so grateful I have been given this chance to start over. 

 

 


   
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 tigh
(@tigh)
Trusted Member
Joined: 4 years ago
Posts: 54
 

Hi   I found my credit file to be incorrect, and sent a general letter of complaint, stating that you were discharged from TD on (date) to each company that my details were wrong, with the account numbers etc quoted.    I would also include a copy of your discharge form (Form 23?) with the letter, asking for this to be corrected.  

I received notification from one company who stated that their information on my files were correct, (but I could send them screenshots of the incorrect information), they still insisted the information was correct, and the credit agency was incorrect.   After going round in circles between the two companies, I decided to write to the Financial Ombudsman and give them the information (not a quick fix!!), but eventually, FO ruled in my favour and the company eventually had to make the correction.

 

Hopefully, someone can give you advice about Mortgages.   Good luck for the future


   
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Paul McDougall
(@paul-mcdougall)
Member Moderator
Joined: 5 years ago
Posts: 164
 

Morning Debtfreeyay

Tigh provided excellent advice and I would echo the advice they provided. 

In terms of mortgage advice, a mortgage advisor would be able to provide a suitable response.   In my experience, a mortgage provider would look at affordability, loan to value and credit worthiness in deciding whether to approve a mortgage.  

I have had a number of clients that have successfully obtained secured finance after being discharged from their Trust Deed. 

 

 

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed


   
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