www.iva.co.uk

I completed a Protected Trust Deed in April 2005 after 3 years and made every payment on time. My credit record with Experian still shows 8 defaults and doesn't show that a payout was made. How will my credit reference ever improve if they keep recording an unsatisfied amount on it?

The defaults will continue to be reported for 6 years from the date of the final update.

Are creditors still reporting ?

Each entry should have a start and a stop date, plus an amount and current status.

I am not familiar with Protected Trust Deeds and their workings.
I am assuming that they are similar to an IVA.
If you had successfully concluded an IVA, you would have received a notice to that effect which you could forward to Experian with a request that it is refelected on your record.
Whilst it sits on your credit record for 6 years, it may be possible to demonstrate on your Experian record that the creditors have been dealt with in a satisfactory manner by way of the PTD.

Tell it like it is.

Hi Folks
Thanks for the advice. I have carefully checked my Experian record and it varies according to the creditor.
2 of them show an outstanding balance and were updated this month. One hasn't updated since the defualt date (2002) and Max REcovery have 3 that say satisfied and one that still shows a balance.
I do have a letter saying that the Trust Deed is complete and thanking me for managing it well. I could send a copy of that to Experian with a note to put on the record.
My main concern, like everyone's I guess, is to put this behind me. I work for myself and it can be awkward to get financial services.

Hi
Yes I would do that.Your credit record should be cleared by April 2008 but fear that it will not because of the errors in reporting.
You could also write to the creditors concerned and ask them to amend their records with the credit reference agencies.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp