I've been on a trust deed for nearly 3 years now and its finished in july this year 2011, what happens after this, some ppl are saying ur still on this for a further 3 months and it can take at least 5 years to get a good credit rating, am I going to struggle to get a mortgage and other hire purchase items or credit cards etc, how can I build a good credit rating if I cant get credit
Your credit record will be shot for 6 years in total even though the trust deed will have finished.
You need to check whether there are any defaults showing after the date it was agreed and if so, write to the creditors and tell them to remove those defaults/
I am assuming the same rules apply in Scotland as they do here.
You can help build a credit history again by keeping your bank account in order, mobile phone contract and you can apply for a credit card such as Vanquis and make sure you pay it off every month.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
