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Scottish Trust Deed Forum
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Topic starter
21/10/2011 2:17 pm
I am about to sign a trust deed but havent quiet made the leap yet- i am also in the process of trying to rent a flat (fingers crossed)they require me to take insurance and the stuff ive seen all ask if you ahve ever had or have bankrupcy proceedigns against you- i havent but would signing a trust deed constitute bankrupcy proceedings?
Thanks Bee
21/10/2011 2:56 pm
Welcome to the trust deed forum Bee.
It's a common question that you ask and one that frequently causes some confusion.
Bankruptcy and a trust deed are two different things. If you in a trust deed, and you are asked if you have been bankrupt, you can honestly answer "no".
Bankrupty and trust deeds are both forms of "insolvency". There are some forms which ask whether you have ever been made insolvent. If that were the question, the answer should be "yes" if you're in, or have been in, a protected trust deed.
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