Trust Deed Scotland ® Official Site

What is a Trust Deed in Scotland?

A Protected Trust Deed is only available to residents of Scotland and it will help you pay off your unsecured debts in manageable monthly amounts typically over a 4 year period. Only a qualified Insolvency Practitioner can administer a Trust Deed, and payments are based on what you can afford. After the Trust Deed is completed, all your unsecured debts are written off.

One of the advantages of a Trust Deed is that you don’t have to deal with your creditors, we do that for you. A Trust Deed can help protect you house and car. To qualify you need at least £5,000 of debt, been living in Scotland for at least 6 months.

A Trust Deed is just one of the options that we can advise on. To find out what your options are, start with the online form or simply call us. Once you have considered your options, you're in a position to make an informed decision. Our advice is free, with no obligation and no set up costs.

Gain control of your finances

Every year over 6,000 people in Scotland benefit from Trust Deeds.
Trust Deeds allow you to pay a reduced monthly payment, on a fixed timeframe,based on what you can afford, while keeping your home, car and other assets.
During this time, any interest and fees on your debts will be frozen and your creditors are legally prohibited from contacting you for payment.
Upon completion of your Trust Deed agreement, any remaining debt will be written off, leaving you debt free.
Once your debt solution has been formally agreed you will make one payment per month to your trustee for the duration of the agreement.

Debt free in 48 months

Once the arrangement ends, you will be debt free and able to rebuild your credit rating.
With any debt solution, there are pros and cons, which is why it is so important to seek professional advice first. Check if the company you are dealing with is regulated and read genuine feedback from its clients
It is important you make an informed decision on whether or not a Trust Deed is the right debt solution for you as other options may be more suitable for your circumstances.
Many of your queries and concerns may have been covered in our FAQ section

Do I Qualify Trust Deed Scotland

Here’s an example of what we can do

See how a Trust Deed could help you with this simple example. Using the trust deed we consolidate all the debts into one smaller monthly payment which allows you to get back on track

Unsecured
debts

Personal Loan

£12,000

Credit Card

£6,000

Store Cards

£1,600

Council Tax

£1,200

Total Debt £20,800

Your monthly repayments

Old
£636

New
£175

Debt
written off

60%

* Subject to creditor acceptance * Payment subject to individual circumstances * Credit rating may be affected * Fees apply, subject to individual's

Do I Qualify Trust Deed Scotland

We make it easy

We can explain Trust Deeds and the other debt options available to you, such as: the Debt Arrangement Scheme (DAS); Minimal Asset Process (MAP) and Sequestration.

Trust Deed Scotland has hundreds of verified reviews on Trust Pilot, with an average score of 98%. We receive such positive feedback due to our industry leading training and ethical debt advice.

We cannot stress enough the importance of approaching a company that has the necessary qualifications and experience in this field. Always ensure the company you are dealing with is governed by the Financial Conduct Authority, (FCA).

Experts in debt advice

Our credentials have led to several companies claiming to be related to Trust Deed Scotland, in order to attract business. Trust Deed Scotland does not work with any other debt advice companies. Please inform us if you receive any unsolicited communication.

Our advisors cover the whole of Scotland and are trained to the highest standards. This includes acting with full discretion and providing non-judgmental advice at all times.

At Trust Deed Scotland, we understand the impact that debt can have on all areas of your life. Every year, we help people from a vast variety of situations. You are not alone.

Do I Qualify Trust Deed Scotland

How is the Trust Deed payment calculated?

Your contribution is based on the disposable income remaining once your living costs have been deducted from your income. Most people are much more comfortable once they enter a Trust Deed as they will be making one affordable monthly payment instead of higher, separate payments to their creditors. Try the Trust Deed Wizard for an indication of how much you could expect to pay monthly in your Trust Deed.

Who can do a Trust Deed?

Scottish residents with £5000 or more unsecured debt may be eligible for a Trust Deed.

Is my home and car protected?

You can qualify as a homeowner, private tenant, council tenant or if you live with your parents. If you own your home, your advisor will explain the process of protecting your house during the initial assessment. Try the Trust Deed Wizard to find out how a trust deed could help you get on top of your finances.

Will my creditors agree to a Trust Deed?

Over 98% of Trust Deed proposals are accepted. If a creditor wanted to object, it would do so in writing within five weeks of your Trust Deed being proposed. Even then, it would only fail if that creditor represented over 33% in the total debt value or over one half in number. If 67% of creditors agree with the proposal, then the other creditors will still be legally bound by its terms, even if they object. In the unlikely event your Trust Deed did fail, the trustee would negotiate your case in an attempt to have it accepted and you will also be advised on other Scottish debt solutions such as the Debt Arrangement Scheme (DAS) and Sequestration.

How do I set up a Trust Deed?

Put your details on the website or call in to the office and arrange a free meeting with one of our qualified debt advisors. They will talk you through your options and help you make an informed decision on the debt solution best for your needs. Your advisor will provide you with a checklist of any additional information required and once we receive it we can begin drafting your case. Your advisor will arrange a meeting with you to finalise the paperwork, return any original documents you gave to us and answer any final questions. Your adviser will also help you set up your first Trust Deed payment at this stage and then you can stop any current payments to your creditors. Try the Trust Deed Wizard to see how a Trust Deed could help you become debt free.