trust deed
A Trust Deed (TD) is a solution for residents in Scotland who can longer cope with their debts and is a viable alternative to Sequestration (Bankruptcy). A flexible voluntary arrangement, a Trust Deed will clear your debt within an agreed timescale of between one and three years and is a legally binding arrangement between you and your creditors.
the advantages of a Trust Deed are:
- removes the pressures from creditors, we deal with them in future
- you agree the proposal which is made to your creditors
- one, affordable monthly payment
- no set-up charges or hidden costs
- creditors are legally bound by the terms of the Trust Deed and they cannot raise court action against you if the Trust Deed becomes protected
- all interest is frozen
- you’ll be debt free at the end of the Trust Deed and regain your financial freedom
- the majority of our proposals include you retaining your car and home
how can I organise a trust deed?
We’ll organise a meeting with one of our specialist advisers at your home or our office who’ll carry out a full review of your personal finances. Following our review, we’ll provide you with all the different options tailored to you. Only if a Trust Deed is the solution to you, will we arrange this process for you.
is a trust deed right for me?
If you have available income each month and/or assets (ie equity in your home) and live in Scotland then a Trust Deed could be the answer to your debt problems.
Call our specialist debt team on 08000 915 004 to find out how we could help you.