What is a trust Deed?

If you live in Scotland and have unsecured debts which you are struggling to pay, a Trust Deed could be the ideal solution. Although there are a number of solutions which exist, there is no other financial arrangement that permits you the protection from your creditors, including the potential freezing of interest together with the flexibility and affordability of a Protected Trust Deed.

A Protected Trust Deed is a sensible and realistic way forward for Scottish Residents who are having genuine difficulty in servicing their debts but who want to avoid Sequestration - the Scottish equivalent of bankruptcy.

Once protected a Trust Deed offers protection from your unsecured creditors. It is a legal agreement between you and your creditors which allows you to pay back just what you can afford, usually for a period of 36 months after which time the remaining debt is written off and you can look forward to a debt free fresh start.

The main advantages to the Protected Trust Deed are:

	A Protected Trust Deed puts you in control of your finances
	You only pay what you can reasonably afford to pay
	All interest and charges on your debts could be frozen
	Creditor pressure is removed
	When the Protected Trust Deed is completed all remaining unsecured debts included in the arrangement are written off

The main disadvantages to the Protected Trust Deed are:

• Creditors are not obliged to accept the Trust Deed
• Your credit rating is affected in the short and medium term
• Details are Published in the Edinburgh Gazette

What are the minimum criteria for a Trust Deed?

• Scottish resident
• Struggling with payments
• More than £10,000 of unsecured debt
• Proof of employment

How do I start a Trust Deed?

Our experienced and friendly team are waiting to hear from you and will be delighted to provide you with advice on all of the options available subject to your particular circumstances.

Speak to a Direct Debt Solutions advisor free on 0800 015 3135 and we'll advise which debt solution would best suit your debt problems or take the Express Debt Test now and find out which solution is best for you.

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