Getting Credit after a Trust Deed

Many people struggling with debt often worry about getting credit after they choose to go into a Trust Deed. Although you are not allowed credit while you are in a Trust Deed it is definitely not impossible or unrealistic to assume that you will be able to get credit once you have been discharged.

Many people look to rebuild their credit rating by applying for specialist credit cards such as that offered by Vanquis. They offer credit cards with high APR but with the benefit of a low manageable credit limit. This can be increased over the months provided you prove you are in control and paying back in a timely manner.

The secret to obtaining credit after coming out of a Protected Trust Deed is to stay disciplined. Make sure you are using your credit card responsibly and for regular purchases that you can pay back each month. It is also important to constantly check your credit rating to make sure lenders are updating their records and not jeopardising your chance of further credit with out of date records. Over time you will find that it becomes just as easy to obtain credit as it was before you entered your Trust Deed.