Getting a loan after a Trust Deed

blacklily

Hi,

Wonder if anyone can help. I have just finished a Trust Deed (last payment September) and am waiting on my discharge letter, which could take weeks. My car has failed it's MOT and I need one to get to and from work. Which means getting a loan, I tried CreditPlus, Infinity Finance and Carloans4U, all stating Bad Credit, CCJ's no problem and have been declined. Does anyone know someone that might accept me?

My mum offered to be a guarantor but she is retired and does not have a good credit rating (better than mine though!) although she is a homeowner and I did not think she would qualify as a guarantor.

Anyone have any suggestions?

Jade34

Hi blacklily, I was discharged from a TD in 2005 and unfortunately, it stays on your credit report for another 3 years after that. The only way I could get finance was through the likes of Welcome or Provident who charge extortionate interest. It's just not worth it in my opinion. From what I've read on here, Welcome are on the way out anyway so that's a no go (a blessing really). Since having my TD and especially since the "credit crunch" I've tried to remortgage with no luck. Sorry I can't cheer you up with anything positive but that's the way it is I'm afraid. Hope you have better luck than I did!!

blacklily

Thanks Jade34. Oh well, I will just have to do lots of walking in the lovely Scottish Winter lol. At least I am debt free, there is always a bright side.