Will A Scottish Trust Deed Influence A Job?

Will A Scottish Trust Deed Influence A Job?

Many people receive great benefits from a Scottish Trust Deed. It is a system that provides debt management and lets a person pay a reasonable amount of debt every month while the rest is written off. Some people have concerns that they may negatively affect employment while other people are simply embarrassed.

Does An Employer Have To Be Informed?

Not necessarily. It is not likely that an employer will ever know about a Scottish Trust Deed. It is important to note that it is published in the Edinburgh Gazette. It is also wise not to talk about financial issues at work either.

What Jobs Do Not Allow For Scottish Trust Deeds?

Police, Firemen, and those who are employed by the prison are not allowed to have Scottish Trust Deeds. Also, professionals involved in handling money like solicitors or accountants may have rules regarding this type of agreement. Much worry stems from the higher risk that a person will be more likely to succumb to pressure from blackmail or corruption. If a Scottish Trust is one of the last actions that will help, it is best to consult with a Professional Standards Team to discuss the situation.

Is My Job on The Line?

It is not likely that a person will get fired if an employer uncovers that an employee has a Scottish Trust Deed.

How Do I Know If I'm Allowed To Have A Scottish Trust Deed?

Normally an employer will include information in a work contract concerning terms related to insolvency.

Must I Have A Job To Obtain A Trust Deed?

Yes. After living expenses are considered, approximately £150-£200 are used for payment. Money received from benefits are not eligible to be used as payment.

What Will Happen To My Bank Account?

If you have debt with the same lender who you bank with it is advised that you change to another bank, simply because the lender may freeze your account or take the money that is owed to them (if you have funds in your account). For more information on debt and bank accounts click here.

Does It Affect The Ability To Find Employment?

Unless trying for a job in the above mentioned professions that prohibit these deeds or become a self employed contractor, it should have little affect.

Will Scottish Trust Deeds Hamper My Job?

Many people view Scottish Trust Deeds as much needed help. They aid the ability for a person to manage debt. Many people question how they affect employment and feel that they cast a shadow of embarrassment over them.

Must An Employer Be Informed?

Not under most circumstances. Unless a person discusses it at work or the boss reads it in the Edinburgh Gazette, it is unlikely that an employer will ever know.

What Jobs Do Not Allow Scottish Debt Plans?

There are certain jobs like firemen, police, and prison workers who are not allowed to partake in agreements like these. Also, accountants or solicitors are not allowed to have them either. These professionals are not usually allowed to have Scottish Trust Deeds because they may be more likely to deal with corrupt practices or blackmail. When these deeds are one of the last hopes, it is smart to review a work contract or the correct department at work before applying for one.

Is My Job At Risk If An Employer Uncovers I Have A Scottish Trust Deed?

Not really. There are rare cases where an employer will fire a worker for having a Scottish Trust Deed. Most businesses are not impacted in these cases unless money is being handled.

How To Find Out If I Cannot Have A Scottish Trust Deed?

Most employment contracts contain information about clauses regarding these types of agreements. A financial adviser may be able to explain the rules and clauses that may apply.

Must I Be Employed To Get A Trust Deed?

Yes a person must be employed. Most times, living expenses are totaled and disposable income is used to make payment. Any additional benefits cannot be used to pay creditors.

Can This Affect The Chances Of Finding A Job?

If a person is trying to gain employment from the Prison, Fire Department, Or Police, they must be financially vetted to become able to be hired despite possessing a Scottish Trust Deed. Other self employment opportunities also frown on a person having a Scottish Trust Deed.