My Credit file and Sequestration

grn1983

Good evening folks,
I am looking for a little help and guidance. I am from Scotland and after suffering problems with my sole trader business, was sequestrated on 11/01/2010 and was discharged on 11/01/2011 with no problems.

Since then all of the bad debt I have before sequestration is still defaults on my credit file every month that goes by. Will this ever dissapear? I am concerned because every month that goes by it shows a new default and it seems like this will continue until I clear the debt which I cannot afford to do.

I was told that these default accounts would dissapear after 5 years, is this true?

Also, having a terrible credit score am I able to get a mortgage or am I best waiting?

I Have to be honest, i suffered depression and anxiety at this time and switched off to all that was happening at the time. I want to try and get it together now and would appreciate any and all info passed on to me about the whole process.

Thanks in advance.

fermi

No, defaulted accounts are removed from your credit report 6 years from the default date. That applies in all parts or the UK.

Check the original recorded default date. It should be no later than you bankruptcy date. They should also be marked in some way to indicate they are settled, which presumably they are not?

If you need to sort those issues there is guidance and a letter in this thread.

Credit Reference File Clean Up Post Bankruptcy

That was written for England & Wales, but the exact same principles apply. Just need to substitute in that it was a Sctottish BR, and refer to the AIB/trustee rather than the English/Wales Official Receiver.

grn1983

Thanks, the debts are not settled and there is nothing on my file to suggest thatnthey are settled either. Thanks for the link. I will see what I can get sorted.