Trust Deed Scotland Reviews

Who are the official Trust Deed Scotland?

We’re the No.1 debt advice company in Scotland based on over 11,000 5★ Reviews on TrustPilot. We have more five star rated reviews on TrustPilot than all over Trust Deed providers combined.

Trust Deed Scotland® have helped over 30,000 people in Scotland since 2009.

As an employee owned company, we care about the outcome we get for our customers and we’re committed to providing excellent customer service throughout your journey with us, as evidenced in our Debt Help Stories.

How often is a Trust Deed reviewed?

An annual review of your Protected Trust Deed will take place and involves a review of your personal circumstances and whether your income and expenditure details have changed.

Unless there has been a substantial change in your ability to repay your debt, the Trust Deed annual review is more of a formal process which is required to show your position hasn’t changed.

What happens after signing the Trust Deed?

Once Trust Deeds have been signed it will be published on the ROI and within 7 days of registration, your creditors will be written to with details of your Income and Expenditure, Statement of Affairs and other statutory documents.

The Trust Deed will then be registered as protected following the expiry of the 5 week period from the date of the initial publication on the ROI, provided a third in value or a majority in the number of creditors do not object to the Trust Deed proposal.

How long will a Trust Deed last?

A Trust Deed typically lasts 4 years but depending on your personal circumstances, it may be extended for a longer period of 12-24 months.

The Debt Arrangement Scheme may last for a shorter, or longer period of time and this really comes down to how much debt you have and how quickly it may be paid off. That said, the maximum length of time that you can be in a Debt repayment Programme under the Debt Arrangement Scheme is 10 years.

Can I keep my car in a Trust Deed?

You can retain a car up to the value of £3,000 and it will not be considered an asset in your Protected Trust Deed. Even if the car has a value greater than £3,000, as long as you need your car for travel to work purposes then in most cases you will be able to keep your car.

If, at the end of your Trust Deed, your car is valued at more than £3,000 then your payment period could be extended to take account of the car’s value and/or a third party could pay the amount in full or by instalments during the Trust Deed period.

What happens at the end of my Trust Deed?

You will become When you have fulfilled all obligations in terms of your Trust Deed i.e. paid all contributions/complied with your Trustee, then you will be discharged from any debt incurred prior to signing the Trust Deed.

Any remaining unsecured debt (other than those excluded) in your Trust Deed will be written off.

We will carry out the required statutory procedures to conclude your Trust Deed and you will then be formally discharged from your Trust Deed. A statutory form confirming your discharge will be sent to you.

Are there alternatives to Trust Deeds In Scotland?

As well as Trust Deeds, there are other formal debt solutions in Scotland known as the Debt Arrangement Scheme, Sequestration and Minimal Asset Process. Other informal solutions exist such as Debt Management Plans and for further information, we recommend downloading our free Scottish Debt Help guide.

During a call with a Trust Deed Scotland^® adviser, you will receive tailored advice that looks at both the advantages and disadvantages of all available solutions that then gives you the ability to make an informed decision based on what works best for you.

When you’re looking for Debt Help in Scotland we suggest checking out the reviews of the companies that you’re speaking to as not all companies that offer debt solutions in Scotland are qualified and may be quick to sell you a solution that is not in your best interest.

Call us on 0141 221 0999 for non-judgemental debt advice.