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Scottish Trust Deed Forum
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Topic starter
02/08/2010 2:40 pm
Looking for some advice please...
I'm applying for a basic bank account with nationwide...i have the form here and one of the first questions is are you currently bankrupt or subject to an IVA.
I made my last payment of my trust deed in June, not been discharged yet. Would i be making a false statement if i said no? Sorry if its a stupid question but i'm really not sure.
Thanks
02/08/2010 3:55 pm
Hi newboy
this is a question which comes up from time to time and there is no definitive answer. Personally, I would say that a Trust Deed is not bankruptcy.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
03/08/2010 12:29 pm
I'd agree with that newboy.
A trust deed is a form of insolvency but different to bankruptcy.
The form itself seems to be naive to the difference in Scottish insolvency procedures compared to those in the rest of the UK. An IVA, available in England, Wales and Northern Ireland, is in many ways similar to a Scottish trust deed.
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