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Trust Deed | Scottish IVA | Scotland Debts

If you live in Scotland and you are having trouble managing your debt then Debt Solutions can offer you help. If you have debts of more than £12,000 then a Trust Deed may be the debt solution you need. Every day Debt Solutions help people all over Scotland set up Trust Deeds and help them take back control of their finances.

A Trust Deed is very much the same as an IVA, and is essentially the Scottish version of an IVA, but it is only available to residents of Scotland. Like an IVA it is a legal agreement between you and the creditors that you owe money too.

To qualify for a Trust Deed you must have debts over £12k and there must be 2 or more creditors. You must have a disposable income of around £200+ per month and the Trust Deed payments are made monthly the same as in an IVA. A Trust Deed also means residents of Scotland can avoid Sequestration, which is the Scottish version of Bankruptcy.

To find out more about Trust Deeds click on the links to the left to browse through our Trust Deeds section of the site or phone us direct now on 0800 043 0200 and our Trust Deed Advisors can answer all your questions about Trust Deeds and Debts in Scotland.

Benefits of a Trust Deed

• 1 easily affordable monthly payment based on your income and expenses
• Unlike some of our competitors, we do not charge Upfront Fees, saving you £100s
• A Trust Deed offers you protection from creditors
• Creditor pressure stopped as creditors must deal with us
• All interest frozen immediately
• Suitable for tenants or homeowners, individuals or couples, and even business owners
• We can setup a Trust Deed in as little as 4 weeks

Disadvantages of a Trust Deed

• If you are a homeowner with equity in your property you may be required to introduce part of your share of this equity in the final year of the arrangement. If you can’t get a remortgage your arrangement can be extended for up to another year.
• If your circumstances change, and your insolvency practitioner can’t get creditors to accept amended terms, the Trust Deed is likely to fail. You will still owe your creditors the full amount of what you owed them at the start, less whatever has been paid to them under your Trust Deed.
• If your Trust Deed fails, your creditors may request that you be made bankrupt. This will always be discussed before your arrangement commences
• Your credit rating may be impacted for up to six years from the commencement of your Trust Deed.

Trust Deed Frequently Asked Questions

See our Frequently Asked Questions (FAQ) about Trust Deeds.

Get assistance from our friendly and understanding experts - Aidan, Charmaine, Donna, Gemma and Olivia. Click here to chat with them now

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About Debt Solutions

We have been helping people with their finances since 1932 and have helped 1000's of people deal with the misery and stress of debt. 

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