Trust Deed & Defaults

Claree__x

I'm not sure if this is the correct forum, please advise if not

I have been in a protected Trust Deed (in Scotland) since December 2010. I checked my credit file today and 2 of my creditors who are included in my trust deed have logged defaults on my file this year (one in May and one September)

Can anyone please advise if these can be removed as, as per my understanding, they could not log defaults while under the Trust Deed?

gscrym

All my creditors were listed as defaults but all at different times. Even though you're in a trust deed, you still default on the orginal debt as you no longer pay it. Your trustee gets your creditors to agree to a dividend that will satisfy the debt. Not sure if this gets paid throughout the trust deed or if the money gets banked and all dividends are paid at the end. The only thing you can do is write to your creditors and aske them to mark the defaults as the month you signed your trust deed. As I threw out all my creditor letters, I will have defaults spread from January to September.

There is a trust deed forum that I find very helpful. If you google scottish trust deed forum it should come up.

fermi

They can log defaults.

If they do so, then the default date must be recorded as on or before the start date of your TD. Once the TD is completed, then they also have to mark the record in some way to show that the debt is settled.

Claree__x

The date on the defaults for 4 different companies are post-trust deed. Should I write to them and ask them to back date them? I agree that defaults have happened so I have no problem with them being on there, but I feel that dating them September 2011 is just going to make my problems last longer when I am dealing with the debt.

fermi

Yes. Pretty much the same as the bankruptcy letter, except that you exchange the BR date for the start date of the TD and the discharge date for the end date of the TD.