Life after Trust Deed?

gazman1976

Hi there my trust deed final payment was on June 2009 and i still have not received my discharge letter, is this normal practice? i have called them and they keep fobbing me off saying they have a back log ??

Bexter

gazman1976 wrote: »

Hi there my trust deed final payment was on June 2009 and i still have not received my discharge letter, is this normal practice? i have called them and they keep fobbing me off saying they have a back log ??

Hi

Yes - quite normal in my experience - took over a year for mine to be discharged fully. Suggest you start trying to get your credit files cleaned up in the meantime if you haven't already, as that can take a while too.

gazman1976

Thanks for that ! , any idea how i go about getting my credit files cleaned up?

Bexter

Yes - read all my posts above!

gazman1976

ok i have read, good info , would it be a good idea if i joined equifax or experian or both? which would you recommend? and do i then just start contacting the companies to sort stuff out? would i not need a copy of my discharge letter as proof so they can update my file etc....?

Bexter

ok i have read, good info , would it be a good idea if i joined equifax or experian or both? which would you recommend? I would get copies of your file from both - some companies only report to one or the other so you need both to get the full picture

and do i then just start contacting the companies to sort stuff out? would i not need a copy of my discharge letter as proof so they can update my file etc....? The discharge letter doesn't make any difference to the creditor really. You're asking them to change the date you defaulted on the payments to when you started the trust deed - so all you need to prove that is the actual trust deed document that you signed and the letter above. Then the file will disappear from your record after 6 years. So for example -

you signed a trust deed on April 1 2004
you had an ABC credit card that was included in your trust deed.
ABC still recorded non-payment every month until Jan 2005 so it will be the automatic 6 years from then - Jan 2011 - before the file drops off your credit card
When you show ABC you signed a TD in April 2004 they should change the default date on your file to that date - so it will then drop off in April 2010

So I would say yes - just start contacting them now - you can always send the discharge letter later if they ask for it

HTH

gazman1976

excellent advice, thanks for that

G

megastressed

hi guys, i'm looking for a bit of info from people who have taken out td, i am consiodering this at present but it sounds too good to be true - is it worth taking out or should i go with a dmp - have £7500 unsecured debts, all behind due to partner being made reduntant, now trying to catch up but its impossible to do everything at once.

thanks

impulsive

Bexter

I'm 18 months through my trust deed and have just requested my credit file to see if my creditors have got their dates correct after reading on this forum that they often make mistakes.
If they are wrong at this stage would it be worth my while sending them a letter to request the date be changed to the date of the trust deed?

zebade

megastressed wrote: »

hi guys, i'm looking for a bit of info from people who have taken out td, i am consiodering this at present but it sounds too good to be true - is it worth taking out or should i go with a dmp - have £7500 unsecured debts, all behind due to partner being made reduntant, now trying to catch up but its impossible to do everything at once.

thanks

Don't jump into a trust deed without thinking it through. Go and see a financial advisor or the CAB for advise on you debts.