What is a Trust Deed
A Trust Deed (TD) is a solution for individuals who can longer cope with their debts and is a viable alternative to Sequestration (Bankruptcy). A flexible voluntary arrangement, a TD will clear your debt within an agreed timescale of between one and three years and is a legally binding agreement between you and your creditors.
The advantages of a TD are:
- Removes the pressures from creditors, we deal with them in future
- You agree the proposal which is made to your creditors
One, affordable monthly payment - No set-up charges or hidden costs
- Creditors are legally bound by the terms of the TD and they cannot raise court action against you if the TD becomes protected
- All interest is frozen
- You’ll be debt free at the end of the TD and regain your financial freedom
- The majority of our proposals include you retaining your car and home
How can I organise a TD?
We’ll organise a meeting with one of our specialist advisers at your home or our office who’ll carry out a full review of your personal finances. Following our review, we’ll provide you with all the different options tailored to you. Only if a TD is the solution to you, will we arrange this process for you.
Is a TD right for me?
If you have available income each month and/or assets (ie equity in your home) and live in Scotland then a TD could be the answer to your debt problems.