Are you allowed to take out a secured loan before you are discharged? And if you are, can you use some of it to pay of the equity payment of the trust deed?
Hi kerry.
I'd imagine the only reason a trustee would allow that would be to release the equity for a trust deed.
It's a long time since we heard from someone that could find a lender in such circumstances though.
Thank you for replying. I was wondering if it would be woth contacting my mortgage provider, who seem to offer additional borrowing, as well as secured loans?
There's never any harm in asking kerry, though I don't think you should get your hopes up too much.
It will be important to make sure they understand about your trust deed to avoid a lending offer being made to you that is subsequently withdrawn when they do any pre-lending checks.
Good luck with this. I'm sorry that I couldn't be more positive but lenders really are very wary about any kind of credit problems at the moment.