Hello Sharon,

I'm not sure there is such thing as a normal credit rating but there are ways to help shape your rating in the future.

Anything that goes onto your record record stays there for 6 years. Therefore 6 years after the Trust Deed started it should no longer show on your file.

As you have not been making use of credit during your Trust Deed (other than perhaps a mortgage) there will be no postive information about your creditworthiness to help boost your score. One way to deal with this is to take out a low-limit credit card which you make small purchases on each month then clear the balance in full when you get the bill. As you have been in a Trust Deed the chances are that the interest rate could be very high so the full clearance of the balance each month is very important. Some people do one supermarket shop per month or buy one tank of petrol each month on the credit card for example. This will layer good credit history on top of the previous problems.

It would also be a good idea to get a copy of your credit report to ensure there are no inaccurate entries on there affecting your score.

Hope this helps.

Thanks for your response.

Will I be able to open a new bank account OK after the end of my Trust Deed. I am a bit wary of being refused.

Thanks

Hello Sharon,

There should be no problem opening a basic bank account. We've had a lot of good feedback from people opening the Co-operative Bank Cashminder account.

If that doesn't work please let us know as there are a couple of guaranteed approval accounts we can point you towards but they come with a monthly fee.