£5,000 of unsecured debt is the minimum debt level required to qualify for a Trust Deed.
You must also be able to pay a monthly contribution based on having enough expendable income. Typically this is calculated by subtracting your expenditure from your total income leaving an amount often referred to as disposable income.
While a Trust Deed will allow you to write off an element of your unaffordable debt, you may also be eligible for the Debt Arrangement Scheme (DAS) or other Scottish Debt Solutions. Depending on how much you owe, and how much you can afford to repay, one of these alternatives may be just as effective as a Protected Trust Deed.