Clear your debts in 36 Months...*

In Scotland a protected trust deed is a great way to deal with debt.

Similar to an IVA, a Trust Deed is an arrangement that enables Scottish residents to pay off a proportion of their debt to their creditors, usually over a period of 3 years. The debt does not have to be paid off in full, but will be written off at the end of the arrangement. A Trust Deed can provide you with a structured, manageable payment plan, so speak to a specialist to discuss your options confidentially.

* When the Protected Trust Deed is successfully completed, your unsecured debts contained within it will be written off. After completion your credit rating will be affected for 3 more years. If you fail to keep up trust deed repayments you could lose protection from sequestration or loss of assets. Protected trust deeds are provided only by our qualified insolvency practitioner partners in Scotland. Repaying debt over a longer period may increase the total amount to be repaid. Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term.

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What are the alternatives to a Trust Deed?

A Trust Deed is just one potential solution open to you. It is important you consider all of the available solutions and understand the advantages and disadvantages of each one. You may find that a Debt Management Plan or Bankruptcy would be more beneficial to you.

To speak to an expert debt specialist, please complete the form on the left.

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What is a Scottish Trust Deed?

A Trust Deed is a formal arrangement where the debtor, unable to afford to pay off their debts, grants a 'trust deed' in favour of the trustee, agreeing to their assets being transferred to their creditors. The agreement means that the trustee will deal with the creditors on behalf of the debtor - easing stress, prevents creditors from enforcing bankruptcy on the person in debt, and normally lasts around 3 years before the debts are cleared and the debtor can start afresh financially.

Fill in the form above and our sister company, Leadbay, will put you in touch with a specialist advisor who can help with your situation.

To operate this service, Money Hospital may receive a fee from Leadbay.

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The content of this site is for information purposes only and does not constitute advice.

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