Once Protected it is an extremely powerful legal tool to help you back on the road to financial stability. It 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 Scotland 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.
* The minimum period for a Scottish Trust Deed is 48 months, although depending on your circumstances the payment period could be longer.
Yes absolutely. The Trust Deed Solution was established by and is governed by Protected Trust Deed (Scotland) Regulations 2008 and constitutes a formal repayment proposal presented to a debtor's creditors via an insolvency practitioner.See more information here
Here is an example of how a Scottish Trust Deed could make your debts affordable.
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* 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 qualify 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 if you change your mind after having met with one of our advisers. Should you choose to enter into the debt solution 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 the agreement 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.