Protected Trust Deed - Close off

ready1873

I finished paying a trust deed March 2013 and so far have still not had a final closure or sign off letter for this. I have called the company several times most recently this morning where I was told my file was next on list to be dealt with.


As it stands I am looking at a full calendar year where nothing has happened and creditors are adding late payments to my file every month. Is there anything I can do about this?

IF

Bumping your question up the board :beer:

ready1873

Any advice at all would be really helpful. I suspect I am just stuck with the situation and need to wait it out.

Anondebtadvisor

Until you have your discharge certificate the creditors may continue to add late payments to your credit file, however recently some trustee have been discharging the debtor from the trust deed but the trustee themselves remains in office to continue with PPI claims etc - Have you asked your trustee to discharge you but for them to remain in office?

The Information Commissioners Office have confirmed that where an individual had been discharged from a protected trust deed, but their trustee had not (and therefore creditors may not have received any payment from the trust deed). The fact that the trustee has not been discharged, and that the creditor has not yet received a dividend from the trust deed, are both therefore irrelevant.

What is relevant is that you have been discharged from the trust deed, and therefore any unsecured debts that previously existed no longer do so. Creditors are expected to update this status with the credit reference agencies. This will involve marking defaults as satisfied or at least partially satisfied and making sure no debt balances show as being outstanding. From this solid base it is much easier for an individual to begin to improve their credit rating for the future.

You will need your trustee to discharge you for this to happen