Hello Lorryjo1983,

Anything that goes on your credit record stays there for six years; the start of a trust deed will be registered on your credit file.

Therefore around six years after your trust deed started it will no longer show on your credit file.

In itself this will not give you a good credit record; that comes from a positive track record using credit.

For that reason things like mortgages, mobile phone contracts, credit cards etc can help to rebuild a positive credit record after the trust deed is complete provided you maintain an excellent payment record.

When making decisions to lend your recent credit history is very important to many lenders. That means your credit record and score can be improving soon after the trust deed is completed even if it continues to show on your record.

Hi All,
Sorry to butt in to the conversation, but is it wrong to get credit whilst in a trust deed (that is only if a creditor would give you it which is doubtful) if you could would this help rebuilding your credit, also surely your mortgage shows on your credit file which would help. I am not looking to apply for credit by the way, just interested.

Hi perston,

My understanding is that you are allowed to obtain further credit while in a protected trust deed.

However as no scope for repayment is built in to the income/expenditure document (used to calculate the monthly trust deed payment) it's easy to see how this could cause problems.

Taking new credit might help to re-establish a positive credit record but I suspect the risks greatly outweigh the potential benefits.