Don’t make too many applications at once. Spread them out and try a credit card with as low interest as possible.
Use the card monthly to make small purchases and clear them in full, to avoid your finances getting out of control again.
Double-check you are on the electoral role.
View your credit report to make sure it is accurate. If there are any inaccuracies, you can ask for these to be rectified, (speak to the company who put the entry on your credit file and if they will not remove it, go to the Information Commissioner’s Office and ask them to investigate on your behalf).
Be careful not to take out any joint finances with someone else with poor credit, (such as joint mortgages and loans), as this may affect your credit further.
If there’s anything relevant you’d like to say about something on your credit history, (for example, perhaps you missed a payment due to redundancy or hospitalisation), you can ask to add a notice of correction which anyone checking your credit history would see. This does not guarantee the person checking would take this into account but depending on the situation, this could make a difference as the credit history only shows dates and figures, not reasons for missed payments.
Read our blog to find out the common myths about poor credit and what the facts really are.
When trying to rebuild your credit: take it slowly, be responsible and be patient as it won’t happen overnight. The benefits to being in a Trust Deed should far outweigh the negatives, (or you would not have been offered a Trust Deed in the first instance). One of the largest positives is having any remaining debt cleared, once you have complied with the Trust Deed Terms.
For more information, please see our FAQs or Contact Us.