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Scottish Trust Deed Forum
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Topic starter
29/06/2013 2:10 pm
1.Can you have for example a trade credit account for £500 used as working capital when self employed?
2. if you have a monthly payment already running of car insurance for at total of £350 can this still continue running when you enter trust deed? (assuming the company don't cancel it and demand payment )
29/06/2013 2:30 pm
Hi stephencarlin,
I would see no problem with this as long as it was properly managed and you ensure that you don't allow the credit account to get out of control. For someone who is self employed a trade account can assist.
Generally your insurance can continue in place and there shouldn't be a problem. I have heard occasionally that people have not been able to get car insurance with a particular company because they are paying monthly and taking out a credit agreement to pay for it. As I said though this is unusual and most people are fine.
David is not currently posting in the Trust-Deed.co.uk forum
