Power of Attorney and Protected Trust Deed (IVA)

jgg72

My sisters and myself have recently had to enact Power of Attorney for my father (he lives in England). I hold PoA with them jointly and severally. Nine years I entered into a Protected Power of Attorney with my creditors (the Scottish version of an IVA). Three years later in 2009 I was successfully discharged from my Protected Trust Deed and haven't had any issues with credit since. Today I have received a letter from Barclays Bank (where my father holds his bank accounts) saying that I can not have PoA as I have an IVA. I was just wanting to check whether if having an IVA in the past can impact on me having PoA now. I would really appreciate any advice.

National_Debtline

Hi jgg


I'm not aware of any specific reasons that having had a trust deed in the past should affect your ability to hold a PoA now. The relevant legislation only refers to bankruptcy as being an issue, as opposed to other forms of insolvency, so it may be that Barclays have simply taken this decision on their own initiative.


You may wish to ask the bank to expand upon their reasoning, but in the meantime I would contact the Office of the Public Guardian for advice on whether there are any issues here we are overlooking:


https://www.gov.uk/government/organisations/office-of-the-public-guardian


Dennis
@natdebtline


P.S. You may wish to edit your post for clarity, as there are two references to "Power of Attorney" where you have (presumably) meant to type "Trust Deed" instead. Could cause confusion.

jgg72

Thank you Dennis for your advice and also for highlighting that I had stated Power of Attorney when I really meant Protected Trust Deed. Apologies I'm feeling very stressed about this particularly as I've been very careful with my finances since having a Trust Deed, and that period wasn't a particularly pleasant time.

National_Debtline

jgg72 wrote: »

Thank you Dennis for your advice and also for highlighting that I had stated Power of Attorney when I really meant Protected Trust Deed. Apologies I'm feeling very stressed about this particularly as I've been very careful with my finances since having a Trust Deed, and that period wasn't a particularly pleasant time.

No need to apologise, just means you've got a better chance of attracting responses to the post. Hope you can get things sorted out.


Dennis
@natdebtline