Trust Deed
A Scottish Trust Deed is a legally binding financial agreement between a person and their creditors. Similar in scope and terms to IVAs in England, Wales and Northern Ireland, trust deeds are only available to people living in Scotland.
Free and impartial money advice is available from the Money Helper, an organisation set up by the Government for people in debt.
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To learn more about managing debt and receiving free, impartial debt advice, visit Money Helper or read about options for paying off your debt
A Scottish trust deed involves your financial situation being assessed by a debt advisor or a licensed Insolvency Practitioner who serves as a Trustee of your debt and will act as an intermediate between you and your creditors. In general, a trust deed is available to anyone who is currently living in Scotland or who has lived there in the previous 12 months, running up to the time an application is made.
If you’re dealing with unmanageable debt, a Trust Deed can be an effective way to take back control of your finances. However, it’s important to weigh the advantages and disadvantages before deciding.
A Trust Deed can be a valuable solution for managing unmanageable debt, but it’s important to consider the advantages and disadvantages before deciding. By understanding the benefits and drawbacks of a Trust Deed, you can decide whether it’s the right solution for you.
Free and impartial money advice is available from the Money Helper, an organisation set up by the Government for people in debt.
Complete the form to see if you qualify for an IVA.
A friendly & non-judgemental advisor will call to discuss your circumstances.
They will explain all your options so that you can decide which solution works best for you!
An advisor will talk through options and help you make the decision.