Payment demands stopped


    Once your Trust Deed is agreed, your creditors will not be allowed to contact you as long as your payments are maintained.

     Interest charges frozen


    Once your Trust Deed is in place your creditors can no longer add further interest or charges to any of your accounts covered by the agreement.

     Protection from court action


    Once your Trust Deed is agreed your creditors are no longer able to take further legal action against you so long as you stick to the terms of the agreement.

    WHAT IS A TRUST DEED?

    Trust deeds are only available in Scotland. They are an agreement between someone struggling with debt and their creditors, in order for the borrower to pay back some or all of their debt. At the end of the trust deed the individual is declared debt free. The borrower’s assets are given to a trustee, who is a qualified insolvency practitioner, to sell in order to pay back the debts. The borrower also usually has to make payments towards the debts from their income for five years, although the amounts and timescale vary case by case.

    DO YOU QUALIFY FOR A TRUST DEED?

    To sign a Trust Deed you must meet this criteria

    • Do you, or have you lived in Scotland within the last 12 months?
    • Do you  have a place of business in Scotland?
    • Do you have debts of £4,000 or more?
    • Are you able to make some form of monthly contribution to your debts?
    • Is the stress and worry of debt becoming too much to handle? Do you need free and impartial advice from an industry expert?

    TRUST DEED EXAMPLE

    Here is an example of how a Scottish Trust Deed could make your debts affordable.

    Click image to enlarge

    NEED ADVICE?

    Contact us here

    Trust Deed . Co,


    272 Bath Street
    Glasgow G2 4JR

    The Money Advice Service is an impartial service set up by the Government. They provide free debt counselling, debt adjustment and credit information services. www.moneyadviceservice.org.uk

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