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craig121598
Contributor

10 Posts

Posted - 04 October 2019 :  08:08:41  Show Profile  Reply with Quote
Hi guys just thought I would pop in and offer hope to the many that either are into a trustdeed or thinking about same,Jan 2013 entered into trustdeed with approx 28k of debt mostly credit cards, having followed invaluable advice from the Mods and posters today I own outright 2 cars, I have credit facilities of 10k could have more I've never asked to increase, I also managed to gain a Mortgage via the Halifax which was a massive relief for my long-term future, the one piece of advice I will pass on is keep your CREDIT report correct! Ensure the dates of default all fall away together and start re-building your credit from day1 with card companies that can assist.
Good luck all the journey is long but I am proof that it's fixable within 6 years



JackieMcR
Regular Contributor

20 Posts

Posted - 04 October 2019 :  08:52:14  Show Profile  Reply with Quote
Love this post!!

I have just over two years to go and love to hear positive stories from people who have came through it all.
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craig121598
Contributor

10 Posts

Posted - 04 October 2019 :  09:40:25  Show Profile  Reply with Quote
When rebuilding credit there's things you can do, after first cards approved don't spend more than 25% and payback nearly all each month, get a phone contract never be late with any payment utility bills etc try get 3 credit cards running I started with Aqua then acquired Capital one then Barclaycard over a period of time of course , watch your credit score from 3 different reporters delve into the reports ensure all the information is correct!
Remember defaults do not fall off immediately when trust deed finished but do keep an eye on
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David Tannock
Trust Deed Expert



2239 Posts

Posted - 04 October 2019 :  10:31:41  Show Profile  Reply with Quote
Hi craig121598,

I too love this post JackieMcR!

Itís a really positive and encouraging post for everyone to read. Iím sure this will give many people the reassurance and confidence that there is life after a Trust Deed but it just takes time to build this all back up.

Thanks for sharing this Craig to help others.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
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craig121598
Contributor

10 Posts

Posted - 04 October 2019 :  17:25:11  Show Profile  Reply with Quote
Last post and goodbye X, my debt was built up over the lavish years of credit greed 2008/2010 I had good income but lavishly squandered as credit was a money tap always an offer! Every week new offer came through my postbox! It wasn't ever living beyond my means I was aware of debt to a point, but every week & new zero interest deal popped into my letter box, for 4 years I spent not really understanding debt or abilities to ever pay back! Dday arrived I lost my employment minus 10k wages so could not pay/rental was mental back then! Lost our home then almost my marriage X
Ive been through a huge financial war and will never ever want to experience that God awful knot in my stomach night after night anyway it's goodbye from me

Edited by - craig121598 on 04 October 2019 17:31:46
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DASdude
Contributor

11 Posts

Posted - 04 October 2019 :  19:55:39  Show Profile  Reply with Quote
Thanks for the post Craig, even though I am not in a trust deed it still gives me hope getting through a DAS :) best of luck in the future.
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Kevin Mapstone
Trust Deed Expert



3784 Posts

Posted - 07 October 2019 :  10:49:48  Show Profile  Reply with Quote
Thanks Craig, it's great to hear your story. There are undoubtedly very many people out there making themselves ill with worry that will take a lot of heart from it.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
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gaelforce
Frequent Contributor

26 Posts

Posted - 09 October 2019 :  10:29:11  Show Profile  Reply with Quote
I could almost replicate craig121598's post in every way. I went into a deed in September 2013 and I am waiting for all the trust deed accounts to fall off. I'm a bit confused at my latest Clearscore report. I naively thought that my score might go up as the anniversary of going into the deed passed. My score is the same and an old credit card from the trust deed has appeared amongst my Active ones.It shows In Default. I thought that would be closed now? All my Active cards are starter ones for people like me, and are little used and paid in full each month. There really is a fresh start after years of digging a hole for myself. The only way is up if you take control. There is so much help out there.
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TDA (Debt Adviser)
Trust Deed Expert



13102 Posts

Posted - 09 October 2019 :  11:01:05  Show Profile  Reply with Quote
That's really good to hear gaelforce. Thank you for taking your time to add your experience to this thread.

Don't worry too much about your credit score. What's more important is that you continue to take the right steps to demonstrate responsible use of credit to any potential future lenders.

Regarding the defaulted account, this shouldn't be showing now. They should have issued a default notice at the time your trust deed began - which should mean that the account is now no longer present on your credit record.

There's more about this, and how to fix it, in Section 5 at:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

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