Trust Deed

[carlopia]

Hi, I got into some debt and got a trust deed out, i finished paying and was discharged from the trust deed on August 2014
I recently went onto Noodle and seen that my RBS mint card and Capital one card are in default.
How am i able to fix this?

[Nibbler]

Re: Trust Deed

They should be marked as defaults, with the original initial default date no later than the start date of your TD.

(Ds or 8s in the status history are not new defaults, just status updates, so they can continue until the TD finished.)

The accounts should then be marked as 'satisfied', perhaps with a partial marker, with a satisfaction date of the date your TD was finished/discharged.

If the above is not so write requiring them to correct the status and dates, stating that you will be going to the FOS and ICO if they do not.

[Debt Camel]

Re: Trust Deed

Hi carlopia,

I have covered how to sort out your credit record after insolvency in England here: http://debtcamel.co.uk/credit-file-after-bankruptcy/.

My guess is that the same principles would apply to a trust deed: all your debts should have a default date that is on or before the start of your trust deed and that after the trust deed was discharged, the debts should have been marked as settled or partially settled with a zero balance owing.

The defaults will then disappear from your file 6 years after the default date.

[Nibbler]

Re: Trust Deed

My guess is that the same principles would apply to a trust deed

They do. The old ICO guidance, no longer on their site unfortunately, stated that:

"This guidance note also refers in some instances to bankruptcies, IVAs and the assignment of debts. When it does so, it should be read to include the Scottish equivalents of sequestration, trust deeds that have the intent to create a binding arrangement similar to an IVA, and the assignation of debts."