What is a Trust Deed?

If you live in Scotland you could be debt free in 3 years

A Protected Trust Deed is a legal process available to solve your debt problems in Scotland so that you can gain protection from your creditors in much the same way as with an Individual Voluntary Arrangement in the rest of the UK.

With this procedure of solving debt problems, after an agreement has been met your creditors will accept a new, reduced amount in full and final settlement of your debts with them.

Payments are normally made over a 3-year period, after which the balances on your unsecured debts are written off.

On agreement, all interest and charges on your debts are frozen.

Your protected trust deed is supervised by a licensed insolvency practitioner, who is responsible for all negotiations with your creditors and who is also responsible for ensuring that you keep to the terms of the Trust Deed.

If you feel that either of these facilities could benefit your circumstances complete our online application and we will ask one of our professional Debt1 advisers to contact you.