Hello Lorryjo1983.

Good news that your credit rating hasn't been too damaged while you have been in the trust deed.

I think the only answer to your question is to give it a try and see what happens.

The issue is that every lender will have their own criteria for accepting a lending application. Some may use credit scores, some may just compare your demographic data to their previous lending book, some will look just at recent credit history, many will use a combination of these and other systems.

As such, if you weren't successful with Evans Halshaw it doesn't mean that you will not be successful somewhere else.

Hi Lorryjo1983

It's one of these things, you won't know unless you try! Maybe because it is a lease rather than a hire purchase you might have more joy! Please let us know how you get on.

Kind Regards
Julie

Hi i've recently just came out of a trustdeed and found that my credit rating was fair, but it won't even let me open a proper current account, if you actually go into ur report there is a bit that states that i've been in a trust deed, it looks like a court thing to do with the edinburgh gazette advert and i think it stays there for 6 years 🙁 unfortunatly so anything you apply for will probably decline x

Thanks for the info folks. dont wanna try until end of trust deed cos they can take this as an asset can they not or is that only when its on hp? With regard to opening current accounts i have 2, one with lloyds tsb and one with santander. Give them a try. Thanks again for the help guys.

Hi Lorryjo1983.

It's only an asset if you own it, HP or a lease shouldn't be an issue.

I would have thought there's a better prospect of getting approved for such a loan once the trust deed is completed.

Hi LorryJo1983,

I had the same question back when I ended my TD. I couldn't get a loan and was too scared to try to get a new car HP. A year after my TD I finally decided what the hell and went into McCrae & Dick ford garage, I got a new car on HP through Black Horse. I didn't get an answer straight away as it went back to Black Horse who phone the sales guy to say yes within a couple of hours. I will say that in that year before I applied I had got a credit card and catalogue and used these to rebuild my credit and have positive entries in my credit report.