Scottish Trust deed release

debadzuk79

Hi,

I recently came out of a Scottish Trust Deed in July and am in the process of trying to improve my credit rating. All the defaults on my account relate to the trust deed so I wrote to each company asking them to update my profile. All the defaults are still on there, however 2 do now say partial settlement and statement is 'satisfied'. They still show as defaulted though. Will these stay on my account or can I get them removed as they have now been partially settled. Some companies just have not updated the file even though my trust deed ended in July and it says defaulted up to and including this month! Is it worth writing to them again? Any help appreciated. Thanks.

Karl

Charco_2

You can keep trying if you like but your credit rating is going to stretch back 6 years regardless. Your TD only lasted 3 so you'll be waiting until July 2012 to have your record cleared.

blacklily

Hi,

With regards to your query, it will say defaulted and then should say Settled or Satisfied next to that. I don't think you can get the defaulted removed. Your default date should also be the date your trust deed started. Any creditors on there that have not updated to settled/satisfied by law have to. Please see forums.moneysavingexpertdotcom/showthread.html?t=1161943there is a template letter in one of the posts you can send to creditors, they have 28 days to update your records. The defaults will stay on your credit record for 6 years after the default date, so if the date is out by a lot it is worth writing to the creditors to get this corrected.

On another note, I am still looking into this, apparently it is not a law that states that everything stays on your credit record for 6 years. I came across a post where someone had succesfully got all her default history removed even though 6 years was not up, apparently it is just the credit companies that decide it is 6 years! This post is quoted in my reply at the bottom here forumsdotmoneysavingexpert.com/showthread.html?t=80009&page=21Sorry cos I am new can't post links! You'll need to copy and paste!
Hope this helps.

Supertim_2

Hi All

I am currently in the same situation and desperately trying to get my finances back on track after 5 long years. I recently contact my two creditors to advise them that my Protected Trust Deed was satisfied and to give them the background as to why I ended up in that situation. My main creditor has adjusted my file to show that the debt is satisfied albeit partially and the default still shows. However, my second creditor has agreed to remove the default and the debt is shown as completely satisfied. I think it is worth trying.

Although this hasn't really made a difference to my credit rating it does make me feel better!

Good Luck!