When you’ve got unaffordable bills and you’re in a position where you owe money to a number of companies, the thought of creditors chasing repayment by making your phone ring with an unfamiliar number, or knocking on your front door can create a feeling of dread inside.
For many people in Scotland, even the postman delivering letters to an address can help cause further stress and anxiety to those fearing creditor contact over unpaid debts.
Yes, a Trust Deed can reduce your monthly payments down to an unaffordable amount, stop interest and charges and write off some of the debt but one of the other advantages is that creditors can no longer continue to chase you for payment.
The people that you owe monies to are not allowed to:
- Chase you for debts covered by the Trust Deed.
- Contact you directly about the Trust Deed or the debts included in it.
- Add interest or charges to the debts included in Trust Deeds.
Trust Deed Scotland, having helped 20,000 people in Scotland in a similar predicament have gathered thousands of reviews where many of our clients mention that they can sleep at night, safe in the knowledge that their creditors are no longer harassing them over payments.
Entering into a Trust Deed means you’ll make payments on a regular basis and when a Trust Deed is protected, the creditors are legally bound by the terms of the arrangement. Creditors may contact you from time-to-time but you’ll find that this is informational. E.g. to inform you that your debt has been sold onto a new company. In this case, any new company that purchases the debt is still bound by its terms. Find out more about a notice of assignment. Annual statements, default notices are typical letters you’d also receive.
The same is true for the Debt Arrangement Scheme, where you’ll continue to make payments under the terms of your Debt Payment Programme.
Being contacted by your creditors while you’re paying them back through a Trust Deed can be frustrating and worrying, and it’s normal during the first few week. This is due to it taking some time for creditors to update their records after your Trust Deed, or DAS is approved. However, over the first 3-6 months of your Trust Deed, contact from your creditors should gradually start to reduce.
If you do find yourself in a position where creditors chase their payments, threaten you with enforcement action or even just sent you an annual statement – you simply forward the information to your Trustee who will deal with this on your behalf.
There are types of communication from creditors that are more important than overs, even if they all do sound threatening. Whether you’re with Trust Deed Scotland® or another firm; the key is to forward all correspondence to your Trustee.
An advantage of using Trust Deed Scotland® over other companies that you find on Google, or social media is that the advisors are based in-house with direct contact with one another. This matters as some companies act as lead generators, introducers or intermediaries which may result in delays, as those companies essentially act as middlemen between yourself and the Trustee.
This can be further evidences by browsing our debt advice reviews, hosted on the independent reviews platform Trustpilot. Our review, written in our clients own words, often talk about how quick and easy the processes are. With good reason – it’s no fluke, it’s due to us being an end-to-end provider of debt advice in Scotland, and by being able to implement those solutions completely in-house.
Getting help with creditors chasing payments
If you are being harassed by creditors or their debt collectors chasing their payments, you’re experiencing difficulties with Sheriff Officers in Scotland or you’re in debt due to a recent change in your circumstances, get in touch today for free advice.
Our debt advisory service commitment to you.
Confidential – Your details are 100% safe and secure with us.
Non-Judgemental – We’ve dealt with people from all walks of life, from all across Scotland.
Balanced – Our advisors give the risks and benefits of all solutions that you’re suitable for, not just the bits we think you want to hear.
Personalised – The advice we offer and the solutions that we then subsequently implement are tailored to your needs.
Our main telephone number is 0141 221 0999, or you can get an indication on what your options are by completing our Trust Deed Wizard® tool.