We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Scottish Trust Deed - badly advised!

Hi, I'm looking for some help. I entered into a Scottish Trust Deed 3 years ago and have been paying ever since. When I entered into the trust deed I was 21 years old, had just lost my mum to cancer and was not in a position to be making important decisions! The debts I had at the time were large but in hindsight I could have quite easily paid them off without resorting to a trust deed. The trustee explained the trust deed to me as "pay for three years and the debts will all be gone, you can then just get on with life" - to a 21 year old in this position this sounded too good to be true. Obviously I know now that it was too good to be true. I am still unable to get a bank account, credit card (which I now need for work) mortage ect. Please can anyone advise anything I can do to improve my credit record? Is there any point in contacting my trustee to tell them of my feelings of being put in this terrible situation? I'm desperate to get my life back on tract and have normal banking facilities. I have not had any credit since, never got myself into debt but still I'm unable to get any credit - even a switch card. Most banks turn me down for simple bank accounts.
Any help and advice is greatly appreciatd.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.