If you are from Scotland then our experts can provide a Trust Deed solution to your debt problem allowing you to take back control of your finances without taking on another loan.
A Trust Deed is a debt solution which is available to people who line in Scotland. Seen to be equivalent to an Individual Voluntary Arrangement (IVA) or Bankruptcy and it is normally used if your debts are over £10,000. Although considered to be an informal bankruptcy, a Trust Deed is regulated by The Bankruptcy (Scotland) Act 1985.
By applying for a Trust Deed our experts can help you become Debt Free forever.
Criteria for a Trust Deed
0 Debts of £10,000 or higher 03 or more creditors or unsecured debts e.g. credit card debts 0 A disposable income of at least £200/month 0 Resident of Scotland
TRUST DEED ENQUIRY FORM
Forename
Surname
Marital Status
House Name/Number
Street name
Town/City
County
Postcode
Email address
Home/Work phone
Mobile Phone
Best time to contact
Monthly Net Income
Nature of income
Do you own your own home?
Monthly Living Expenses (excluding unsecured debt repayments)
No of Creditors/Debtors (If over 10, please type in 10)
Total Debt in £ (excluding mortgages or secured loans)
Protected Trust Deeds carry none of the stigma of bankruptcy or sequestration, whose awful aftermath the PTD was set up to avoid. A PTD sets out a repayment schedule and must be approved collectively by all the creditors before it starts. This form of debt help is similar to the IVA used in England and Wales.
Once it's in place it is binding, and none of the creditors can contact the debtor upon enactment of the Deed. Those creditors who ignore this and pursue the debtor, for whatever reason, will face a stiff penalty.
There are a number of advantages of starting a Protected Trust Deed. These include having all interest and any added charges frozen on credit accounts that may be in debit, and also all legal action (and any collection or enforcement activity associated with it) must stop according to the terms of the Trust Deed.
