Debt is a serious concern for many people across Scotland, but with a Trust Deed your money problems could be organised into manageable monthly payments. This provides households with the support they need and lifts the weight off the shoulders of those struggling with debt. A lot of people wonder how much of an impact a Trust Deed has on your job, and whether or not it would influence your chances of gaining employment further down the line. This is an understandable concern, but having a Trust Deed doesn’t automatically rule you out of work unless you’re employed in some specific sectors.
There are some professions which will have a contract of employment claiming that you’re not permitted to be sequestrated or involved in any insolvency issues. These professions are usually the Police Force, the Prison Service and the Fire Service. If you’re employed in one of these positions then it’s worth checking your contract to see the specific terms and conditions that apply for your role. Having a Trust Deed might also cause concern for employers if you’re in a privileged position where you’re handling money, such as accountancy, so again it’s best to check the conditions of your contract.
If you aren’t involved in these kinds of positions then it’s very unlikely an employer will find out about your Trust Deed. The AIB register publishes the names of people on Trust Deeds but your employer would have to be actively searching through the list in order to discover your situation. If an employer does find out about the Trust Deed then it’s doubtful that you’ll lose your job, as it wouldn’t affect your ability to perform a role successfully. If you are concerned about losing your job then it might be worth having a confidential talk with someone at your workplace, who will be able to give you the full details regarding your position.
If you want to find a new job while taking out a Trust Deed, again you are only likely to find problems when applying to a few specific areas. The Police, Fire Service and Prison Service have certain rules and guidelines regarding insolvency, so you won’t be able to work in these areas while your Trust Deed is still active. Self-employed contractors applying for council contracts will also find it difficult to get work, as councils perform extensive financial background checks. Solicitors, accountants and other positions where you’re handling money also have certain rules which may make it difficult to get work. For most other jobs, however, having a Trust Deed won’t affect your chances of employment.
Trust Deeds are vital in helping people gain control of their debt problems, and they’ve provided thousands of people with answers when they needed them. If you’re unsure about the impact a Trust Deed will have on your job, or any jobs you might apply for in the future, then the experts at Trust Deed Scotland can help, with free, impartial advice that can give you the guidance you’ve been searching for.