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Topic starter
24/05/2014 6:53 pm
Hi all,
I have been in a protected trust deed for just over 2 1/2 years and am about to separate from my wife (not my idea) but am now in the position of getting an electrical, gas supplier insurance etc. for the house which is rented.
Now this may seem a stupid question but on most of the applications it asks if you have been declared bankrupt, since I'm in a protected trust deed am I or have I been declared bankrupt or not.
The final question is do I have to tell any of the companies that i am in a trust deed,
Many thanks
Crawler (aka Dave)
24/05/2014 9:17 pm
Welcome to the forum crawler.
Protected trust deeds and bankruptcy are both types of personal insolvency, but they're different processes. You haven't been declared bankrupt if you're in a trust deed.
In terms of insurance policies, I'd strongly recommend anyone reading makes sure there are no policy restrictions related to personal insolvency or trust deeds before buying a policy of any type.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
25/05/2014 8:55 am
No point in paying for insurance that wont pay out if there is an insolvency clause. Best to be upfront about it.
Regarding the energy company,you will likely fail their credit checks so a deposit may be required.
Good luck.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
26/05/2014 10:27 am
I have switched energy supplier twice during my TD and have had no difficulties so you never know, Crawler.
Glad that's over with....
Topic starter
27/05/2014 12:19 am
Many thanks for the replies
TDA - thanks that has cleared up the question of " have you ever been declared Bankrupt" Answer No (but have to look at insolvency
Plastic / Upstream - I was thinking when I change over from my wife's name to mine on the utilities it may be easier if not and they require a deposit I don't think that would be a major problem if it was then I can surly go the root of a key meter where you buy the credit using the small key fob
once again thanks
crawler
27/05/2014 7:16 am
That is another option but card/key meters tend to be on very expensive tariffs so I'd avoid that if possible.
Glad that's over with....
