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Property Sale for Quick Exit?

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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 16 years ago
Posts: 4253
 

The adviser is wrong. It is possible to be a director of a Limited Company whilst in a Trust Deed - there is nothing in law that says you cannot.

It may be best to have the Articles of Association amended if that clause you quote worries you, though technically you are not breaking that rule as you were already in the Trust deed at the point you assumed the role of director.

A debt relief order is a specific type of bankruptcy and does not apply to you.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@thomsen)
Active Member
Joined: 9 years ago
Posts: 14
Topic starter  

Thank you Kevin. It's certainly a relief to read that! I am a bit worried that they're telling me this and wonder what their response will be when I inform them I've gone down that route. Hopefully it doesn’t cause any issues between myself and the Trust Deed company.


   
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