A Trust Deed is a formal agreement between you and your creditors to pay back what you can afford towards your debts.
Once Protected it is an extremely powerful legal tool to help you back on the road to financial stability. A Trust Deed is designed for people who have taken out too much debt and are struggling to meet their monthly repayments.
The minimum repayment period for a Trust Deed is 48 months* (4 years) unless an alternative arrangement is agreed. You will be required to pay a set amount per month for the 48 month (or longer) period. At the end of term, provided that you have met your obligations and the Trust Deed is not extended, you will be discharged from any obligations and outstanding unsecured debts included in your trust deed.
* The minimum period for a Scottish Trust Deed is 48 months, although depending on your circunstances the payment period could be longer.
Here is an example of how a Scottish Trust Deed could make your debts affordable.
|2||Credit card 1||£6,812|
|3||Credit card 2||£4,092|
|4||Credit card 3||£5,399|
|4||Credit card 4||£5,200|
* Subject to creditor acceptance
* Payment subject to individual circumstances
* Credit rating may be affected
* Fees apply, subject to individual's circumstances. For more information on our fees click here
To sign a Trust Deed you must meet the following criteria:
You can use our Free Calculator to see if you qualify.
We make it as easy as possible. Here’s how:
Our initial advice is free and there is no cost to you if you decide against signing a Trust Deed after having met with one of our advisers. Should you choose to sign a Trust Deed then there will be a charge for our services. Your adviser will explain this fully and further information can be found by clicking here.
Once you have entered into a Trust Deed all creditors are bound by the arrangement and must not apply further interest and charges. As long as the Trust Deed becomes Protected, no legal action will be taken against you by your creditors.
5 star treatmentI have had a very good experience in trust deed could not do enough for me Thanks...
Elaine on 3rd March.
A genuine company and team that really do care!!!Until about a month ago I had never heard of Simple Financial Solutions. This was due to them being based up in Glasgow, and myself being ba...
Gill on 6th May.