Trust Deeds

 

Trust Deeds are only offered to Scottish residents and is similar to an IVA (Individual Voluntary Arrangement).

With a Trust Deed, you will pay back a proportion of your debt over a set period of time. Any debt outstanding at the end of this terms is written off as part of the agreement.

The monthly payment is tailored around your individual circumstances, so you make a monthly contribution to your creditors that you can afford. They are not be able to add any interest or charges on existing debt, or take any legal action against you once your Trust Deed has commenced.

To see if a Trust Deed is the best solution to your debt free future, call our professional advisors on 0808 131 9113.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)