Anyone from Scotland with a trust deed

cheekysmiler · 5 September 2006 at 12:25PM

Hi there

Just wondering if anyone out there is from scotland and has a trust deed. If so, has it helped you're situation? are you able to get credit once its complete?

Thanks

Cheekysmiler

Uniscots97 · 5 September 2006 at 1:10PM

Hi there, I'm from scotland too. Haven't got personal experience of this but know someone who has and yes they managed to get some credit after it was completed. Hope this helps.

pms · 5 September 2006 at 7:12PM

cheekysmiler wrote:

Hi there

Just wondering if anyone out there is from scotland and has a trust deed. If so, has it helped you're situation? are you able to get credit once its complete?

Thanks

Cheekysmiler

Hi Cheekysmiler

I'm from Edinburgh and I am 6 months into my Trust Deed. I am more relaxed with knowing that I have a set "budget" so to speak each month. Not sure about getting credit once you have been discharged from the Trust Deed but I know that I definately dont want to get credit ever again other than a motgage eventually.

I hope this is helpful

Chelsiedog · 6 September 2006 at 9:31PM

Hi Cheekysmiler,

I entered into a trust deed in December and am very glad to say i feel a whole lot happier and stress free since. As far as I have been told once the TD if discharged it is completely wiped off you credit record and you can get credit as you record goes back to it was previous to your TD.

Chelsiedog.

Debt free December 2008!!

THE_MIDDLEMAN · 2 October 2006 at 11:17PM

Hi I am just finished mine this month w00t

Will keep you posted on progress looking for a mortgage soon.

prated1877 · 16 October 2006 at 6:19PM

mine is due to finish at the end of this month, not sure what will happen but will keep you all posted

cheekysmiler · 16 October 2006 at 8:47PM

hi there

thanks for all your replies. my IP told me that i shouldnt have any problem getting credit once the trust deed is finished, but that the APR's might be a bit higher. I'll just to wait and see. The main thing is I have now entered into the trust deed and the relief I feel is immense, this has been hanging over me for years and finally Im doing something positive about instead of panicking about it all.

cheekysmiler

stuart1_2 · 17 October 2006 at 3:14AM

Hi Cheeky Smiler,

My TD is almost finished, but to be honest credit has been the last thing on my mind, and will be for some time! Last thing I want is to be back at squre 1! I have read on some sites that it can take up to 3-4 years after the TD before you can obtain credit but cant quote that.

alyth · 17 October 2006 at 9:44AM

Cheeky Smiler, I finished my Trust Deed in December of last year, and it was discharged about April-time. At present I can't even change my bank account to a cheque book/switch card type account. I would think that it will depend on what type of credit you are looking for, for example my partner was able to get a an Amex card for me jointly on his account, but i have never applied for any type of credit since the TD was discharged, nor do I want to. I have an absolute pathological fear of spending money since I discharged my TD, and ironically am so much better off now! What the TD did for me was not only clear the debts and give me freedom back, it also taught me never to take anything on credit again, to save up for what I want, and not to waste money, so I'm a bit like stuart1 in that taking credit for anything just never crosses my mind!

Regarding my bank account I am going to see the bank this week to see if I can upgrade my account in some way but I've managed with an electron card for four years and not had any problems and I'm quite happy with the way I'm able to survive without credit!

prated1877 · 18 October 2006 at 11:18PM

alyth wrote:

Cheeky Smiler, I finished my Trust Deed in December of last year, and it was discharged about April-time. At present I can't even change my bank account to a cheque book/switch card type account. I would think that it will depend on what type of credit you are looking for, for example my partner was able to get a an Amex card for me jointly on his account, but i have never applied for any type of credit since the TD was discharged, nor do I want to. I have an absolute pathological fear of spending money since I discharged my TD, and ironically am so much better off now! What the TD did for me was not only clear the debts and give me freedom back, it also taught me never to take anything on credit again, to save up for what I want, and not to waste money, so I'm a bit like stuart1 in that taking credit for anything just never crosses my mind!

Regarding my bank account I am going to see the bank this week to see if I can upgrade my account in some way but I've managed with an electron card for four years and not had any problems and I'm quite happy with the way I'm able to survive without credit!

so you dont get discharged straight away, they make you wait a further 5 months.
do you have to go into their office at the end of the trust deed to sort out figures??????

memorye · 19 October 2006 at 12:57AM

i finished my td in january and i cant get so much as a loaf of bread on credit

My credit report still doesnt mark teh td as completed and one of my creditors is still filing defaults on a debt that was included.

Anyone from Scotland with a trust deed

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