Hi guys

I'm really hoping someone can answer this for me please;

Does the taking out of a Protected Trust Deed (Scottish IVA) affect one's ability to work in financial services?

I'm aware that bankruptcy means banks and the like won't employ me for sure but I don't know if that applies to the Trust Deed as well.

As you might have guessed I work for a bank and I'm starting to struggle with debt, although I've not started missing payments yet... I obviously cannot consider this option if it means I'd lose my job.

I'd be really grateful if someone could help me out here. Thanks.

Hi Davidthefirst...as if life is not stressful enough working in the financial industry! There is not a clear answer to your question unfortunately. As with any regulations, the rules are decidedly 'grey' There is a requirement for any financial firm to ensure that their staff involved in 'regulated activities' are 'fit and proper' and one of the measures usually involves having a clear credit profile. However each firm applies the rules in a slightly different manner and you really need to investigate the approach by your Employer. There is certainly discression and a compliance department can make a recommendation based on individual circumstances. As you will doubtless be worrying about your finances and things do not sound to be getting easier, it may be that you really need to talk to your line manager in confidence to get some advice.

Sorry I couldn't be more specific.

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Louise Cuming

I work for a bank, in customer services, with direct access to customer's accounts, and I am currently on a Trust Deed. In fact, when I had money worries, I went to my manager who helped me sort the whole thing out.

Thaks so much for sharing that Ploughman. I am sure it will make David feel much better.

Feedback from anyone else would be great.

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Louise Cuming