If you are prepping to paint the exterior of the truck, and plan on a decent paint job being the final result, you pretty much have get down to good, clean metal in the rusted areas. Sand blasting, soda blasting, grinding, etc. Then seal with an epoxy primer. If you are trying to keep the rust in check for a while until you get to the real paint job, I might suggest using a "rust encapsualting" paint rather than a rust converter. The rust converters usually have latex in them to provide seal after they have "converted" the rust and that doesn't work very well in my experience. Yeah, they "say" you can paint over it but I have not had good luck. My suggestion would be to scrape/grind/wirebrush the loose rust off the areas. Then hit the areas with a product called "OSPHO" which is essentially phosphoric acid. I think this is one of the components in the rust converters that does the so called "converting". You can get the stuff at most hardware stores and big retailers like Home Depot. and is usually less the $30 a gallon around here. This will "eat in" to the outer layer of rust and neutralize it a bit so it acts a better base for the paint. Following letting this try thoroughly, paint over the treated areas with a rust encapsulating paint such as Eastwood's Rust Ecapsulator, Chassis Saver, Rust Bullet, etc. If these painted areas are on the outside of the truck where they will get exposure to sun, you will need to paint over the rust encapsulating paint as the UV rays tends to make them get "chalky" looking. As I understand it, these rust encapsulating paints cure from atmospheric moisture and also the moisture in the rust and that is why they stick to the rust like glue (and to everything else so protect your skin). By sealing so well, these paints deny air and moisture to the rust so it can't continue to grow, but the rust is still there. If any air/moisture gets through, the rust starts growing again. That is why it is so important to get all of the rust off before a nice paint job as the rust encapsulating paint is not absolute. Get a crack or chip in it that breaks the "seal" and the rust starts again. I use the stuff on the frame and underbody of my truck, and "re-do" the problem areas before winter each year. I am getting ready to do it again now. It is a lot of work, but helps the underbody survive the 5 months of liquid salt bath the truck must endure every year.