Trust Deed Scotland® is a Not for Profit – Community Interest Company, specialising in Protected Trust Deeds. If you have over £5,000 of debt, a trust deed is a formal agreement that can enable you to stop your existing payments to your unsecured debts such as credit cards, loans etc which you either can’t afford, or realistically pay off, and replace them with a new lower single monthly payment based on what you can afford, paid over a fixed timeframe (typically 4 years). After a trust deed is completed, all your qualifying unsecured debts are written off, and you will be debt free.
The advantage of a Trust Deed is that a licensed Insolvency Practitioner, commonly referred to as a ‘trustee’ will deal with your debt (creditors) for you, and ensure that the payments you make to your trust deed will be distributed out to them, this means that you can just get on with your life without dealing with all this yourself. A trust deed can also protect your house and car.
Not everyone qualifies for a trust deed, to find out if it’s an option for you, simply start with the online form below or simply call us on 0141 221 0999 Our advice is confidential, free, with no obligation and no setup fees.
Largest in Scotland
Community Interest Company
See how a trust deed could help you with this simple example to consolidate all unsecured debts into one smaller monthly payment over 4 years, then you will be debt free.
Total Debt £20,800
* Subject to creditor acceptance * Payment subject to individual circumstances * Credit rating may be affected
We have made it easier than ever with our unique Trust Deed Wizard® It’s secure, easy to use and gets you connected with a qualified advisor from your mobile.
Our unique Trust Deed Wizard® Dramatically speeds up the process, its easy to use and will enable you to quickly find out what your options are. Our experienced advisors can text chat to you on your mobile.
Trust Deed Scotland® Have helped over 16,000 people enter trust deeds and are the largest FCA regulated company in Scotland for debt advice, and we will always have your interest at heart.
Over 1,500 five star verified reviews on an independent review website Trustpilot, with an average score of 98%
We cannot stress enough the importance of approaching a company that has the necessary qualifications and experience in this field, we recommend that the company you are dealing with is governed by the Financial Conduct Authority, (FCA).
We have the highest customer satisfaction rating for debt advice not only in Scotland but in the whole UK.
Our advisors are based in Scotland and only deal in Scottish debt solutions.
We understand the impact that debt can have on all areas of your life.
Got a question? Maybe we have an answer for you here . . .
As with all debt solutions the main impact for you will be it will affect your credit rating. Credit reference agencies will assess the level of risk based your on financial history which may include a trust deed however, once your trust deed is completed, you can start to rebuild your credit rating.
People worry that they will be chased for payments when the trust deed is running however, this is not the case. A protected trust deed uses formal legislation, meaning your creditors are legally bound not to contact you for any payments, as the payments for your debt will now come from your trust deed contributions.
This is a common question that people ask us, and the answer is yes - in a trust deed, your mortgage and car HP payments are ring-fenced so you would just continue paying them as normal - subject to approval, and completion. If your house or car were at risk you would be advised other options, your advisor will explain how we can protect your house and car. Try the Trust Deed Wizard ®
With our industry experience, a fantastic rate of over 98% of our 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, your trustee would negotiate your case in an attempt to have it accepted , remember other Scottish debt solutions such as the Debt Arrangement Scheme (DAS) and Sequestration can also be available.
Almost all unsecured debts such as:-
Unsecured Bank Loans
Council Tax Arrears
Previous Car HP
HMRC Bills (self employed)
The main unsecured debt than can’t be included is fines, penalties and student loans.
More information on trust deeds :- protected trust deed page