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Trust Deed

A TRUST DEED is a Scottish alternative to bankruptcy and when used efficiently can be a great way to solve financial issues.

What’s a Trust Deed?​

A Protected Trust Deed in Scotland is a formal, legally binding arrangement between an individual and their creditors which lasts for a period of 4 years although a longer period can be considered. It is a legal agreement which can only be carried out through a Licensed Insolvency Practitioner (IP) who will act as the Trustee. It is only available to residents of Scotland and is designed to help individuals who are unable to repay their debts (more than £5,000). At the end of the period any remaining debt is written off by creditors, subject to some exceptions.

A Scottish Trust Deed reduces unaffordable multiple payments to creditors to a single affordable monthly payment to the Trustee. It offers protection from creditors taking legal action against you, and protects your home and car from repossession.
If you would like free, confidential and impartial advice about entering a Trust Deed without any obligation please contact, Scotland’s Leading Trust Deed Company.

How Can A TRUST DEED Help Clear Your Debts?

  • It can write off all of the debt you can’t afford
  • You can clear your debts in 4 years or less
  • It can put a stop all creditor contact
  • Will consolidate debts to one lower, affordable monthly payment
  • It will prevent or stop legal action, including bankruptcy​

How does TRUST DEED work?

It is a voluntary agreement between an individual and a Licensed Insolvency Practitioner (Trustee). The trustee will sit down with you and discuss your personal financial circumstances. This enables Them to help you to draw up a realistic budget and to determine the level of affordable monthly payment you can make towards your debt.
This single monthly payment will replace all your other monthly repayments to existing creditors. This forms the basis of the Trust Deed which will be submitted for approval to creditors. It is an important step towards securing you protection from creditor action, from other forms of legal action or from your wages being arrested.
If you are unable to afford the minimum monthly payment for a Trust Deed, Bankruptcy (called Sequestration in Scotland) is often a good alternative. To find out if a Trust Deed might be an affordable solution for you speak to one of our advisors today !!!

How do I arrange a TRUST DEED?

Only a Licensed Insolvency Practitioner is able to set up and manage a Trust Deed. If you are in debt and feel that a Trust Deed might be the solution you’re looking for then the first step is to speak to one of our advisors. Feel free to discuss with our advisors your current situation, income, outgoings and debts. This will help us determine if an IVA is the best option for you. If yes, we will prepare your case and appoint one of our Insolvency Practitioners to act on your behalf.

For more information on an TRUST DEED or any other debt help solution fill out the enquiry form here:

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