Entering into a Trust Deed will remain on your record for a set period and make it difficult to get credit. However, if you are eligible to enter a Trust Deed, it is likely your credit rating is already poor and in decline.
A Trust Deed is an opportunity to reset your credit rating and will demonstrate to future creditors that you are taking steps to get your finances under control. This will allow you much more freedom in managing your finances in the future.
While there is time involved in fixing your credit rating through a Trust Deed, it is progress. There is no hiding from the fact that struggling to keep your head above water won’t improve your credit rating.