Hi Slayervixen.

That's really a matter for the specific credit union concerned. Is there someone there you'd be happy to talk to about it?

The loan situation probably should be answered the same way. They'll likely want to see some track record of saving before they offer a loan, and a loan application may ask questions about your credit history and status.

Credit unions may be a little more open-minded and willing to discuss your financial position than the average bank though. I'd hope they'd be in a position to help you, at the very least once you have been dsicharged anyway.

Credit unions can be badly affected by people defaulting with them and many will not let you join with a trust deed on your file.

Tesco do a savings account as does the yorkshire building society,both of which we have opened. The post office also have some online saving accounts that are worth a look. Co op my bank refused me a savings account so I had to look elsewhere .

Paul

Try the HSBC I got a account with them while in a trust deed along with a £500 on demand overdraft though it turned out to be first direct .

If it's a workplace credit union you can probably save using a payroll deduction. If you do this, they will be far more inclined to offer you a loan as the payments are guaranteed as long as you're working for the organisation. As always though, the best policy is to come clean and explain the situation to them and I'm sure they'll do their best to help you through it. There is nothing to stop you getting credit while you're in a Trust Deed but don't expect a Credit Union to give you a loan for anything frivolous. They won't want you to go into further debt unless it's helping you out, i.e. car repairs, unexpected household bills, etc.

Whilst not illegel, it is not usually a good idea to take on further credit whilst in a trust deed. Your trustee cannot take into account payment for new debts when considering what you can afford, so the danger is that you will no longer be able to afford the necessary payments to your trust deed if you have another debt to service too.

The Royal Bank of Scotland let me open a savings account before I finished my trust deed. You could give them a go.

I only have four months left and I'm just looking to save more than anything and thus seems like the only sensible way I can think of to do such a thing.

Thanks so much for all your replies/advice.