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Topic starter
13/03/2013 2:56 pm
Hi Guys,
Im nearing the end of my TD now, with my last payment in august this year.
I've not missed a payment yet and so am confident that it will finish on time with no issues, what now though?
I'm hoping to get a Credit Card with a small limit in order to rebuild some credit history, but when can I apply for that? can I do that now or do i need to wait till the TD is finished first?
Is there anything else I can do now, or in the months leading up to the end to help myself out? I've did a bit of searching of the forum and there are a few pointers out there already, but I just dont want to miss an opportunity to start off on the right foot.
Thanks,
Mick
13/03/2013 3:11 pm
Hi Mick
Congratulations on making it almost to the end! I am sure there will be several of our members willing to share their experiences and advice on this.
I believe the Vanquis card is quite a popular choice to rebuild your credit rating - as long as you pay it off in full each month as otherwise the interest rate is apparently pretty steep. You don't necessarily need to wait until your trust deed is finished.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
13/03/2013 3:19 pm
Hi Kevin,
thanks for the speedy reply. Yes, I just want a card to make a few basic purchases on each month (i.e. fuel) and then pay it off in full, I know the APR on some of these cards could be crippling, so Ive no intentions of not paying it off immediately, simply using it as a tool to display I am sensible about credit 🙂
look forward to some other replies [:D]
13/03/2013 3:27 pm
Hi Mick,
Well done on reaching this point in your Trust Deed and the end now being in sight.
You want to keep on top of your case manager to ensure that they start the closure procedure before your last payment is due. That way your discharge from it should happen fairly quickly and the case itself should be discharged not long after you.
Other forum members have been able to obtain a Vanquis card to rebuild their credit rating and I'm sure you will find other information on rebuilding your credit rating on the forum.
Also you want to check to see if there are any ongoing PPI issues in your case as this can sometimes delay the discharge of your case.
Good luck with the remaining payments. I'm sure the extra money will come in handy.
Chris is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
13/03/2013 8:45 pm
ongoing PPI issues? not sure I follow Chris, we are not talking about Payment Protection Insurance are we (I've never had any that I know of?)?
Wouldnt want something simple holding things up as im keen to get it over with and start moving forward.
13/03/2013 8:58 pm
Hi Mick,
Yes Payment Protection Insurance. Trustees are required to investigate if a client has taken this out in the past and if it's been miss sold. Some clients are unaware that its been automatically added to a credit card or loan that they have. Compensation payouts will be put into your Trust Deed and increase the return to creditors.
Best to check with your Trustee to see if they have investigated this in your case and if they havent establish if they are going to or not.
Chris is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
13/03/2013 11:00 pm
ah, I never knew they did that.
I shall send my trustee an email in the morning and see if they have checked yet. thanks for bringing that to my attention as I never knew they did that. hopefully they have done it already (its a fairly large company my trust deed is with, so im confident if they have to do this, they will have done, but it of course wont hurt to make sure).
Cheers,
Mick
