Protected Trust Deed & Scottish Trust Deed Advice

Residents of Scotland who are struggling to repay their debts may have the option of entering into a Trust Deed with their creditors. A Trust Deed (often called a Protected Trust Deed or a Scottish Trust Deed) is a formal agreement between yourself and those you owe money and is an alternative to bankruptcy.

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Latest 10 Forum Posts
Forum Post		Author
	Hi derelict I did answer your point on fee	Mark McFadyen
	My point being that for instance, half of my	derelict
	Hi derelict I don't understand your point	Mark McFadyen
	it is a tough decission then, I am offered a	derelict
	Hi derelict no, the Trustee will continue	Mark McFadyen
	Hi torocopter '85% of the figure.' Could	Mark McFadyen
	So what's going to happen then? let's say tha	derelict
	Hi derelict the simple answer is no. The T	Mark McFadyen
	Hi Katrina and welcome to the site. As i was	mazda 5
	Hi Mark, I've had the meeting with C.D, had	torocopter

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	£500 fee to protect equity - Hi there, Im thinking about taking out a trust deed
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	INVOCAS - Please help. My husband and I are on the verge of entering into a
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	re mortgage - hi,my fixed rate mortgage is coming to an end,since i took
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	Trust Deed allowed if only part home/equity - Can anyone help? I have a

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Why consider a Protected Trust Deed?

Having a Protected Trust Deed means you agree to pay an amount each month for a defined period (usually three years). Once completed, your creditors must write-off any outstanding balances and these debts will be considered as settled.

People choose a Scottish Trust Deed as a way of taking control of mounting debts and working towards clearing them for good. Monthly payments to creditors are agreed after your finances are reviewed to see what you can afford. Once the Trust Deed has been agreed to by creditors you will be legally protected from them and all interest on the debts will be frozen. When the Protected Trust Deed has run its course, creditors can no longer pursue you with measures such as legal action, allowing you to move on with your life.

Advice on whether a Scottish Trust Deed is right for you

There are risks associated with entering into a Protected Trust Deed. These can include releasing equity from your home to help pay off debts, and incurring a poor credit rating for a number of years after the Trust Deed has ended. For reasons such as these, it is important that before entering into a Scottish Trust Deed, you seek relevant advice.

Many of the companies claiming to offer “impartial advice” are doing anything but. You need to be aware of the financial implications that a Scottish Trust Deed will bring and ensure you seek advice from people who have experience in this area. That’s why this website exists - to bring financial experts and people in debt together so they can talk openly about Trust Deeds and to build a resource to help future debtors.

If you have a question regarding Trust Deeds then please join our forum and ask the experts. Alternatively, call the free-phone advice line on 0800 043 7201 or get in touch using one of the contact forms on the site.