The Scottish Trust Deed

The main benefits of a Scottish Trust Deed are clear and can be the best way of clearing your debt problems if you live in Scotland. The Trust Deed has a lot of similar benefits to the IVA in England and Wales.

A Scottish Trust Deed will stop all Interest and charges on your debts!
A Scottish Trust Deed will provide you with one affordable monthly repayment!
A Scottish Trust Deed will put an end to creditors letters and calls!
A Scottish Trust Deed can prevent Bankruptcy and Court proceedings!

Because an Trust Deed has a fixed period of repayment of no more than 36 months you have an exact end date when your debts will be cleared, assuming you adhere to the terms of the Trust Deed. All further interest and charges are frozen by law. On the day you make your final Trust Deed repayment, all outstanding debts are legally written off by your creditors.

An Trust Deed agreement is legally binding and therefore creditors cannot demand increased payments once the agreement is made.

The Trust Deed process guarantees that creditors included in the Trust Deed process cannot start or continue with any form of court action.

Will having an Trust Deed have any long term consequences?

For professional people, discretion whilst trying to deal with debts without damaging career prospects is vital. The Trust Deed is discreet and can be used by the armed forces, Police Force personnel and National Health professionals amongst others to clear debt .  This can be a major consideration and can often influence an Trust Deed .

Whilst your Trust Deed is in place you will not be able to take on any further unsecured loans or other borrowing as your Trust Deed will be recorded on your credit file. Any advice we give you regarding Trust Deeds is totally free, so feel free to ask questions at any time.

Once you have completed your Trust Deed, you are free to borrow again, although it may not be easy as it may take some time for your credit rating to be repaired.

Will I lose my home if I enter into a Trust Deed?

If you have any equity in any property you may be requested to release part or all of it to increase the Trust Deed settlement offer to your creditors during the proposal of your Trust Deed.

Individual Voluntary Arrangements in England and Wales

A Trust Deed is something that is only available in Scotland whilst in England and Wales, an Individual Voluntary Arrangement IVA is very similar with just a few minor differences.

If you are in England or Wales and wish to find out more advice about an IVA, please click here. We are ready to give FREE debt help and advice to anyone in England or Wales who thinks that a IVA may help them with their debt problems.

If there is anything about Individual Voluntary Arrangement or Trust Deeds that you need clarification on or you are confused or unsure about anything we have mentioned on this site please call us right now...we can help!