Trust Deeds (Scotland)- Call 01543 432076
YOU CAN BE DEBT FREE IN THREE YEARS*
A Trust Deed in Scotland is simply a formal debt repayment plan which is backed by Scottish Law and designed to help Scottish residents clear unsecured debt (similar to an IVA in England & Wales)
The Trust Deed acts as formal agreement between a debtor and there creditors whereas the debtor agrees to pay one lower, affordable monthly payment over a fixed period (usually three years).
Once agreed, creditors cannot add any interest and charges to the debtor’s total debt. A Trust Deed, once protected prevents creditors contacting or harrassing you, and will freeze all accruing interest on the debts.
A Trustee is appointed to deal with your entire Debt situation over the period that your Trust Deed lasts for, all the Debtor has to do is agree to regular reviews and make the agreed monthly payments into the plan. On completion of the Trust Deed any unpaid remaining Debt is then written off entirely and YOU ARE DEBT FREE
* Homeowners will be required to release any available equity to set against debts
The Trust Deed acts as formal agreement between a debtor and there creditors whereas the debtor agrees to pay one lower, affordable monthly payment over a fixed period (usually three years).
Once agreed, creditors cannot add any interest and charges to the debtor’s total debt. A Trust Deed, once protected prevents creditors contacting or harrassing you, and will freeze all accruing interest on the debts.
A Trustee is appointed to deal with your entire Debt situation over the period that your Trust Deed lasts for, all the Debtor has to do is agree to regular reviews and make the agreed monthly payments into the plan. On completion of the Trust Deed any unpaid remaining Debt is then written off entirely and YOU ARE DEBT FREE
* Homeowners will be required to release any available equity to set against debts
