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What is the Register of Insolvencies and will my Trust Deed appear on it?

Sharon McDougall - Updated - 30th April 2024 - 2 minutes to read

Will details of my Trust Deed be publicly available?

The Register of Insolvencies is a public register that documents Trust Deeds and sequestration ‐ two official debt solutions that are entered into in Scotland. A further register also exists, but this is for a different debt remedy called the Debt Arrangement Scheme, or DAS.

The Accountant in Bankruptcy (AiB) oversees the Register of Insolvencies, ensures that it is up‐to‐date, and that entries are accurate. So if you're considering a Trust Deed to escape serious debt, what do you need to know about the Register?

What details are recorded in the Register of Insolvencies?

Your Trust Deed will appear in the Register of Insolvencies until five years after your discharge date. The details recorded include:

This level of detailed information minimises the chances of search results being misinterpreted ‐ if you have a commonly seen surname, for example. The typical length of a Trust Deed is 48 months, but they can last for 60 months depending on the circumstances, so your Trust Deed could be viewable on the Register for 9‐10 years.

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Should you be concerned that your Trust Deed is on the Register of Insolvencies?

You may be worried that your Trust Deed will be included in the Register, but it's important to know that the Insolvencies Register doesn’t appear in general search results for your specific name.

Furthermore, anyone searching the register would need to know the precise details of your Trust Deed to find any results. Some people worry that their employers, family, or friends might find out about their debt problems, but this is unlikely if they aren't already aware that you're experiencing financial problems.

It’s true to say that some employers might check to see if their employees, or potential employees, are included on the Register, but this is typically due to the nature of the job or profession – the police force and prison service are known to do so, for example.

If you rent your home or are about to enter into a tenancy agreement, the landlord could also search the Register as part of their legitimate due diligence. Finally, lenders search as a matter of course, and credit reference agencies may also carry out searches to ensure consumer credit ratings are accurate.

So what can you do to minimise the effect of your Trust Deed being on a public register after you've been discharged?

How to improve your financial profile once the Trust Deed has ended?

These are just two ways in which you can positively affect your credit rating in these circumstances:

Scotland Debt Solutions can provide more guidance on Trust Deeds and the Register of Insolvencies. For more information and to arrange a free, same‐day meeting, please contact our expert team. We operate offices around Scotland, and can quickly provide the independent advice you need.

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Sharon McDougall Square

Sharon McDougall

Manager

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