Guide to rebuilding your credit score after a Trust Deed

This guide applies to Scotland only. It is for general education only and is not financial or debt advice.

When your Trust Deed comes to an end, you can start looking ahead. There are a few practical things worth checking first to make sure your records are accurate and up to date.

Rebuilding your credit history takes time. Keeping your accounts and records accurate can help.

When lenders report positive information to the credit reference agencies, it can build a clearer picture of how you manage credit today.
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Where to begin? Start with what’s on your credit report

Once your discharge is confirmed, you can start checking how your completed Trust Deed is reflected in your financial records. 

First things first: check what your credit history says about you.
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1. Check your credit score

Your credit score is a number calculated using information from your credit history. It gives you a broad indication of your credit health.

There are three main credit reference agencies (CRAs) in the UK: Experian, Equifax and TransUnion. Each uses a different scoring system, so the score you see can vary depending on where you check it.

You can check your score directly with Experian. The easiest way to see your reports from other CRAs is usually through ClearScore (which uses Equifax data) or Credit Karma (which uses TransUnion data). Both are free to use and give you a clear view of what's on your file with no charge and no impact on your score. Your score is likely to still be low after your Trust Deed is completed.

While your Trust Deed is active, credit restrictions limit your ability to build a recent repayment history. Those restrictions are lifted once your Trust Deed is completed. Your score still takes time to recover because new repayment information needs to build up on your report. Want to understand what you're seeing? Read our guide to [your credit score breakdown for when a Trust Deed ends].
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2. Check your credit reports

Your score is only part of the picture — it's worth checking the information behind it too. You can access your statutory credit reports from Experian, Equifax and TransUnion for free, and it's a good idea to look at all three, as the information each CRA holds can differ slightly.

Take particular care when checking the accounts included in your Trust Deed: 

• Check the default dates. They should all start before your Trust Deed began.
• The Trust Deed and default accounts normally stay on your credit file for six years from the date your Trust Deed began.

If any default dates are showing as starting after your Trust Deed began, you can contact the lender and the relevant CRA, provide your letter of discharge, and ask for the errors to be corrected.

But if everything looks right —great, that’s another job ticked off the list.
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Any financial associations?

Your credit report might show a financial link to another person, such as a former partner, housemate or friend. If you’re no longer financially connected but the association is still showing, you can ask the relevant CRA for a Notice of Disassociation.
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Credit report corrections

Be aware that you may come across companies offering to correct your credit report for a fee after your Trust Deed. There's no need to use them. You can always report incorrect information for free to the lender and the relevant credit reference agency yourself.
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3. Check that your discharge is listed on the Register of Insolvencies

In Scotland, Trust Deeds are recorded on the Register of Insolvencies, run by the Accountant in Bankruptcy (AiB). This register is free to search online.

After you’ve received your letter of discharge, search for your name on the Register of Insolvencies. 

Your discharge will be recorded on the register for 12 months after the discharge date.
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4. If you own a home, check that any restrictions have been lifted

If you're a homeowner, your Trustee may have registered something called an "inhibition" against you when your Trust Deed started. In simple terms, this is a notice that stops you from selling or remortgaging your property without your Trustee's agreement. It's their way of protecting the arrangement while your Trust Deed is active.

Check with your Trustee whether this applied to you, and what was agreed.

When you complete your Trust Deed, your Trustee should formally cancel this notice. This is called "recalling" it. It's held on a public record called the Registers of Scotland (not the property title itself), so it's worth asking your Trustee to confirm this has been done.

This isn't something you can always easily check yourself online.  You may need your Trustee or a solicitor to confirm the notice has been recalled, particularly if you're planning to sell or remortgage soon.

Remember to always use official government services when checking information connected with your Trust Deed.

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Small, simple steps towards a healthier credit report

Once you’ve checked that all your records are up-to-date,  you can turn your attention to rebuilding your credit history by managing your money well.

A stronger credit history opens up more financial options in the future, from phone contracts and insurance to bigger money goals.

You don't have to overhaul your finances overnight. Start with a few practical steps.
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1. Get on the electoral roll

If you're eligible to vote, register at your current address.

Being on the electoral roll helps lenders and credit reference agencies confirm your identity and address.

While you're checking the electoral roll, make sure the address you use across your financial accounts is consistent too. That includes bank accounts, bills and other financial products.

It’s a small admin job. But it helps make sure the information being reported about you is accurate and consistent.
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2. Get your bills organised

Your credit report builds a record of how you manage financial accounts over time:

• Active credit accounts (e.g. loans and credit cards) will show up to six years of payment history
• Previous names and addresses linked to your financial history may remain on your credit report for as long as the details are considered relevant for identification purposes 

Check whether your utility bills are reported to the credit reference agencies. For example, many mobile phone providers now report phone contract repayments to the CRAs. So if your circumstances allow, you could consider an affordable phone contract in your name to demonstrate consistent repayment history.

Keeping your financial accounts and bills organised and paying the amounts owed on time can help you build consistent financial history that becomes increasingly relevant for lenders looking at your credit report and deciding whether to offer you credit in the future.

To help you pay on time, you can use Direct Debits to make it easier to pay regular bills automatically. Just make a note of the Direct Debit dates to ensure you have enough money in your account when the payment is due.
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3. Check your credit reports regularly

Get into the habit of checking your credit reports every month. Many credit reports get updated monthly with new repayment information, so set yourself a reminder to check as new information is reported, to spot anything that doesn’t look right.

Look for incorrect addresses, an account that hasn't been updated, an unfamiliar application or any financial association that looks wrong. 

If you do find any errors, remember to raise it with the relevant lender (if applicable) and the credit reference agency so it can be investigated.

Once all the admin is done, you can start looking forward.
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Build at your own pace

Completing a Trust Deed is a significant financial milestone.

For most people, a Trust Deed involves years of making monthly repayments. Completing it is a genuine achievement, though it's worth knowing it stays on your credit file for six years from the start, so rebuilding your credit reputation with lenders takes a bit of time from here.

As you carry out credit-building activities after your Trust Deed, you can begin developing a more up-to-date credit history and showing lenders how you're managing your finances now.

That could open up more financial options in the future.

For now, focus on the things you can control: make sure your records are accurate, keep your financial accounts organised and build from there.

Explore more of our guides on Trust Deeds and Credit Scores