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Regular Contributor

16 Posts

Posted - 10 May 2017 :  09:08:51  Show Profile  Reply with Quote
Just completed 3 years on a trust deed and 3 years paying back equity. Am I right in thinking that everything falls off your file after 6 years. My trust deed started on 24th June 2011 so is it fair to assume I will have nothing showing after 24th June 2017 or do we have to wait for discharge from trustee before we are clear? Thanks

TDA (Debt Adviser)
Trust Deed Expert

12364 Posts

Posted - 10 May 2017 :  10:31:47  Show Profile  Reply with Quote
Hi Cody,

Anything that goes on your credit file stays there for six years, then falls off.

You'd need to look at your credit file and see what has been put on there and when it was put there.

For example, if a creditor issued a default notice a year after your trust deed began then it would remain on your credit file for a year longer. I wouldn't assume that something like this hasn't happened, but hopefully it will turn out that it hasn't.

Trustee discharge should be irrelevant, but sometimes certain creditors appear to consider that the date they get paid is relevant in terms of your credit file. It isn't - it's the date of your discharge that's relevant.

In short, you may need to intervene if something isn't being reported correctly.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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