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Scottish Trust Deed Forum
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Topic starter
26/08/2018 3:58 pm
Not sure if anyone can help here, but I took out a trustdeed in 2009. I’ll take the back lash for this but I was horrendous with finances back then I don’t even know if I paid the full term of the trust deed or completed it.id say a good chance I did not pay much of it if any at all.
Here lies problem or not problem?. There is no record of my trustdeed on any credit reference agencies. Such as Experian call credit etc and there hasn’t been since I started using them in 2012 . I also checked Scottish an English insolvency register and there is no record of me on that either.
I have never been chased by companies for any outstanding debt.
So fast forward almost 10 years an I’m trying to get a mortgage. Do I Contact the company I got trust deed with and ask them what happened with it? Or am I opening a can of worms by doing this? Do I even mention an almost 10 years ago trust to a mortgage lender ?
Any help would be appreciated
27/08/2018 8:45 am
Your trust deed falls off your credit file after 6 years, so even if not completed it won't show. It's odd that you don't show on register of insolvencies though if you were never discharged.
27/08/2018 10:06 am
Hi,
How does your credit report look? Is it good? If so you may not run into problems securing a mortgage.
In terms of the register of insolvencies once the Trustee is discharged from your Trust Deed the entry into this will fall off 12 months from this date. If you are not showing on this then I suspect that the Trust Deed has been closed off either with your discharge from the debts or without.
I suppose you have a decision to make to find out what happened with your Trust Deed. You could speak with the company that dealt with it or give the Accountant in Bankruptcy a call who may be able to advise if you received your discharge from the Trust Deed.
Alternatively if your credit report is good and your too worried about opening that can of worms you could apply for a mortgage to see if you are accepted.
If it were me I would want to know so I have closure but that’s your call to make.
Might be a good idea speaking with a financial advisor to see how you get on in relation to a mortgage.
David is not currently posting in the Trust-Deed.co.uk forum
27/08/2018 5:46 pm
Are there still debts showing as outstanding on your credit report? If not then I doubt you have much to worry about.
If they are still showing then it may affect your chances of getting a mortgage, so maybe it would be worthwhile looking into whether you were in fact discharged from your Trust Deed, as in that case you should be able to get the debts showing as settled.
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