Notifications
Clear all
Scottish Trust Deed Forum
2
Posts
2
Users
0
Reactions
1,559
Views
Topic starter
11/04/2010 11:31 am
Hi First sorry for this long post and a big thank you to Amy Jellings (Trust Deed Assistant) who gave me the good news about approx when my trust deed will not show up on my credit report when any future search is carried when applying for a mortgage etc. Amy's good news was as my trust deed started in 2005 and was finalised in Aug 2008 then it should not show up on my credit report after Aug 2011 (6 years). Great not long to go then!
I wonder if Amy a or someone can help with this question. I hope to try and purchase a Sub Post office in 2012. I searched the Post office FQA and I came accross a bit of information which might hinder my application for a sub postmaster licence. It points out that if you have had a criminal record then its best to find another line of business in which to buy (I am okay there squeeky clean). It also states that if you have been declared bankrupt then that could hinder an application. My question is: is a trust deed the same as being declared bankrupt. If when I go to fill out the application and it ask s if I have had any ccjs against me or if I have been declared bankrupt can I just say no to that question. Many Thanks
Ken
11/04/2010 10:22 pm
Hi Ken,
A Trust Deed is similar to bankruptcy in that they are both forms of formal insolvency.
I'm not familiar with the criteria that would be applied to an application to run a Post Office. Given the nature of the role I'm sure that they will do their own checks as part of their decision-process. One of these may well be to check whether someone has ever been in any kind of insolvency; the information is a matter of public record even once it is no longer visible on a credit record.
Having said this it's interesting that they use the word "hinder" rather than "prevent" or something similar. In terms of their risk control procedures it sounds as though the door is open for them to take a view on the full circumstances of any applicant, based on all of the information they can gather, rather than based on rigid criteria.
Perhaps it would be worth making contact with someone involved in their selection procedures to discuss in what circumstances previous credit issues might not prevent acceptance.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
