A Scottish Protected Trust Deed is only available to residents in Scotland where you gain protection from your creditors in a similar manner to an IVA for the rest of the UK.
A Trust Deed is a legally binding agreement by which your assets are transferred to the Insolvency Practitioner (Trustee) to administer and realise for the benefit of the creditors. There are no court processes involved and fewer restrictions on you.
Our professional debt experts evaluate debt options and tailor specific debt solutions on an impartial and confidential basis. We can offer a 100% free consultation and explain how you can be debt free in 36 months by paying just one affordable monthly payment.
Find out more below or Take the Test to see if you qualify for a Trust Deed.
If the trust deed meets certain basic requirements, it can be registered as protected and this then becomes binding on all the creditors. A trust deed will normally last for a period of 36 months at which time you are discharged from any remaining debt. In many instances a percentage of your debt will be written off.
Your Trust Deed is supervised by a licensed Insolvency Practitioner, who is responsible for all negotiations with your creditors and who is also responsible for ensuring that you keep to the terms of the Trust Deed.
Advantages of a Trust Deed
- One affordable monthly payment
- Set period of time (usually 36 months), at the end of this period any monies still outstanding are legally written off
- On approval of the arrangement all interest on your debts is frozen
- Pressure from creditors eased, the Trustee deals with all correspondence and queries
- Creditors will be bound by the arrangement even if they did not vote in favour
- It may be possible to obtain more favorable arrangements than under bankruptcy to retain assets such as the family home
- Trust Deeds are not published in local newspapers
- Trust Deeds have fewer stigmas than Bankruptcy
Disadvantages of a Trust Deed
- The arrangement is a legally binding agreement on you as well as your creditors. If you were to default on the arrangement then the Insolvency Practitioner who will act as your Trustee can petition for your bankruptcy
Further Information
The first step for a Scottish Trust Deed is to assess if a Trust Deed is the most suitable solution for you. If we feel that it is not or you decide that it is not what you want to do, we will always suggest an appropriate alternative.
Start the process, see if you qualify for a Trust Deed
A Scottish Protected Trust Deed is only available to residents in Scotland where you gain protection from your creditors in a similar manner to an IVA for the rest of the UK.
A Trust Deed is a legally binding agreement by which your assets are transferred to the Insolvency Practitioner (Trustee) to administer and realise for the benefit of the creditors. There are no court processes involved and fewer restrictions on you.
Our professional debt experts evaluate debt options and tailor specific debt solutions on an impartial and confidential basis. We can offer a 100% free consultation and explain how you can be debt free in 36 months by paying just one affordable monthly payment.
Find out more below or Take the Test to see if you qualify for a Trust Deed.
If the trust deed meets certain basic requirements, it can be registered as protected and this then becomes binding on all the creditors. A trust deed will normally last for a period of 36 months at which time you are discharged from any remaining debt. In many instances a percentage of your debt will be written off.
Your Trust Deed is supervised by a licensed Insolvency Practitioner, who is responsible for all negotiations with your creditors and who is also responsible for ensuring that you keep to the terms of the Trust Deed.
Advantages of a Trust Deed
- One affordable monthly payment
- Set period of time (usually 36 months), at the end of this period any monies still outstanding are legally written off
- On approval of the arrangement all interest on your debts is frozen
- Pressure from creditors eased, the Trustee deals with all correspondence and queries
- Creditors will be bound by the arrangement even if they did not vote in favour
- It may be possible to obtain more favorable arrangements than under bankruptcy to retain assets such as the family home
- Trust Deeds are not published in local newspapers
- Trust Deeds have fewer stigmas than Bankruptcy
Disadvantages of a Trust Deed
- The arrangement is a legally binding agreement on you as well as your creditors. If you were to default on the arrangement then the Insolvency Practitioner who will act as your Trustee can petition for your bankruptcy
Further Information
The first step for a Scottish Trust Deed is to assess if a Trust Deed is the most suitable solution for you. If we feel that it is not or you decide that it is not what you want to do, we will always suggest an appropriate alternative.
Start the process, see if you qualify for a Trust Deed