Are Trust Deeds advertised in the Edinburgh Gazette?

If you are taking out a Scottish Trust Deed then you may be concerned about who knows about it. It's a fact that the majority of us want to keep our financial dealings to ourselves, whether it be our salaries or our debt levels, nobody really needs to know apart from you, so why does it have to be advertised in the Edinburgh Gazette?

Why does a Trust Deed have to be advertised?

Unfortunately a Scottish Trust Deed is classed as a form of insolvency and by law any insolvencies that are processed have to be made public. That’s not to say you are going to be front page news! far from it. The Gazette is a specialized government newspaper and is read by a smaller percentage of the population (mainly people who deal in specific industries such as finance or law). The advert is merely a piece of small print in the ‘Personal Insolvency’ section towards the back of the newspaper and the likelihood of anyone stumbling across it is rare, unless you are actively looking for it or course.

What is the Edinburgh Gazette?

The Edinburgh Gazette is a government newspaper of the United Kingdom. It is published by The Stationery Office (TSO), on behalf of Her Majesty's Stationery Office (HMSO) in Edinburgh, Scotland. It is used to print all sorts of news and press releases from policies to legal notices. It is published twice a week on a Tuesday and a Friday and distributed mainly to creditors, libraries or people working in the financial or law sectors. It is in no way similar to the mainstream newspapers, such as the Guardian, The Mirror or the Times so it is very unlikely your neighbours or friends will even know about your Trust Deed.

The Edinburgh Gazette contains numerous categories for legal notices to be published. Examples of these categories are; Public Finance, Agriculture & Fisheries, Parliament, Companies & Financial Regulations, Personal Insolvency, Corporate Insolvency, Partnerships, Personal Legal, State, Societies Regulation, Environment, Water, Energy, to name but a few.

Trust Deeds are advertised in a sub-category of the ‘Personal Finance’ section and it would be highly unlikely that anyone would find your notice.

It is published anywhere else?

No. Trust Deeds are only registered in the Edinburgh Gazette.

Is it published online?

Yes, it can be viewed online here; http://www.edinburgh-gazette.co.uk

What information is published?

Only the basic details are published. The advert will not contain any information on how much you owe, or whom you owe it to, nor will it publish any reasons behind your decision to enter a Trust Deed. It is a basic format which is done for the benefit of creditors, i.e. if a creditor wanted to object to a Trust Deed. Not that this is entirely relevant as all creditors are contacted at the initial stages of a Trust Deed proposal, it is assumed it is done as ‘standard procedure’.

Further information

If you would like more information on the Edinburgh Gazette, the information that is published or just want a general chat about Debts and Trust Deeds, give us a call free on 0800 043 2027 and one of our experienced advisors will answer any queries you may have.