Last week Debt Support Trust was offered to comment on a proposal by the Registry Trust – the organisation which manages the register for county court judgements. We were asked “If people could sign up to a register where they are never provided with credit, do you think this would work?”

The debt register

The idea put forward by the Registry Trust, would see financial institutions penalised for providing credit to somebody on the register. The proposal is at the early stages, however could the register make a difference to your life? Would you join the register if it existed?

Good debt vs bad debt

At Debt Support Trust we support any proposal which helps people avoid the mental and financial strain of debt. This idea would potentially help people to avoid debt and the stress and mental health problems which are associated with debt.

However, there is good debt and bad debt and unfortunately to receive the good debt (i.e. a mortgage) it helps to have an active credit file without defaults.

What do you think?

It’s a complicated issue but Debt Support Trust would be in favour of a plan such as this, especially if it will provide people with the choice to avoid credit. However it would have to consider alternative options so as people were not penalised for being on the register.

Do you think the register would work and reduce debt problems?

If you have debt do you think you would have signed up to the register before taking out credit?

Alternatively, people are suggesting training and credit classes from a young age could help people reduce the likelihood of debt problems in the future.