A Trust Deed is a legally binding agreement between you and your creditors, supervised by an insolvency practitioner.
Trust Deeds are similar to IVAs but are only available to people who have unsecured debts and live in Scotland. You make one affordable monthly payment during a fixed period – usually 3 years. If you adhere to the terms of the arrangement your unaffordable debt will be written off.
Trust Deeds can:
- Reduce debt
- Stop harassment and court action
- Make one affordable monthly payment
- Protect assets such as your property and car
- Freeze interest and stop charges on your accounts
- Leave you more cash for everyday needs
A Trust Deed may be the solution if you have:
- Unmanageable unsecured debt
- Spiralling interest and charges on your debts
- CCJs against you (or if you’ve been threatened by court action)
- Debt from credit cards, loans, overdrafts or mail order catalogues
The undertaking of a Trust Deed is not the same as a bankruptcy procedure. Many difficulties can be avoided with a Trust Deed.
What next?
Get professional debt advice from Clear Financial Solutions
Just contact us by either:
- Calling 0845 1120 570
- Filling in our contact form and we will call you back.
