Protected trust deeds: improving the process consultation

4. Transparency

4.1 All parties should act openly and disclose all relevant matters; the debtor's date of birth will be included in standard forms as appropriate.

4.2 The trustee's report to creditors must disclose any previous attempts to deal with the debtor's current financial problems ( e.g. refinancing, previous PTDs, Debt Payment Plans (including DAS Debt Payment Programmes) in so far as known to the trustee after due enquiry together with a disclosure by the debtor if there were any dealings with the trustee or businesses connected with the trustee and an explanation of why these attempts were unsuccessful. Any payments made by the debtor in relation thereto, must also be disclosed.

4.3 The information that is required to be disclosed in the trustee's report to creditors is detailed in the regulatory guidance provisions of the Statement of Insolvency Practice 3A (Scotland) ( SIP3A).

4.4 The trustee will enquire of the debtor as to whether he/she has made any payments in connection with the matters set out in clause 4.2 to any party prior to contacting the trustee's organisation. Unless separately disclosed in accordance with SIP3A, the trustee shall record within his/her report to creditors the amount, date and nature of any such payments made by the debtor in the last 12 months prior to the granting of the Trust Deed in so far as this information is disclosed to the trustee.

4.5 All parties to this Guidance must publish their processes for dealing with complaints and details of relevant regulatory authorities, in accordance with current requirements. Any complaints must be dealt with in accordance with the published processes.