Question reference: S5W-22499
- Asked by: Kezia Dugdale, MSP for Lothian, Scottish Labour
- Date lodged: 3 April 2019
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Current status: Answered by Jamie Hepburn on 23 April 2019
Question
To ask the Scottish Government how it ensures that credit unions can recover debts from individuals in (a) protected trust deeds and (b) sequestration.
Answer
Unsecured debts due to credit unions attract the same rights as all other unsecured creditors and will rank equally with such creditors in both sequestration and Protected Trust Deeds (PTDs). Creditors are entitled to receive a dividend against accepted claims in accordance with the legislation and the trustee has a duty to ensure that this is paid where sufficient funds are available.