Trust Deed

If you are a resident of Scotland and have debts greater than £5,000, a Trust Deed could be the best option to help clear your debts. Like an IVA, Trust Deeds are government-backed schemes to help you become debt free in a fixed time period – which is usually 36 months for a Trust Deed.

What Is A Trust Deed?

A Trust Deed is a formal arrangement based on a proposal by a debtor to their creditors to clear their debt.

Trust Deeds are only used in Scotland, and are the Scottish equivalent to an Individual Voluntary Arrangement (IVA).

Trust Deeds are regulated by the The Bankruptcy (Scotland) Act 1985.

Do You Qualify For A Trust Deed?

To qualify for a Trust Deed, your total debt must exceed £5,000 and you must owe to at least two different creditors (different banks, credit card companies etc.). There is no upper limit to the level of debt accepted in a Trust Deed.

Only residents of Scotland can apply for a Trust Deed. For residents of England, Wales or Northern Ireland, the equivalent is an Individual Voluntary Arrangement (IVA) which we can also arrange. If your debts are less than £5,000 but greater than £3,000 you can apply for a Debt Management Plan. In all cases, please complete our contact form.

A Trust Deed Can Help You Avoid Sequestration
There is no stigma associated with a Trust Deed and there is no requirement to publish your details which is not the case with sequestration.

Unlike sequestration, you can still hold public office duties whilst under a Trust Deed. A Trust Deed is also cheaper to administer.

Quick Trust Deed Application Process

Step 1
Complete our contact details form on this page.
Step 2
Based on your personal circumstances, we will create a debt repayment proposal for you. We will talk you through the proposal to ensure you are happy with all the details.
Step 3
The proposal will then be passed onto a Trustee who will oversee all aspects of your Trust Deed. The Trustee will contact all your creditors and negotiate your proposal with them.
Step 4
Once the proposal is agreed and finalised, we will set up a standing order to transfer your payments to your creditors.
Step 5
Become debt-free!

For any other questions, please complete our contact form for a no-obligation call from our debt advisors.

Data Protection

Your data is safe with us, we will not pass any of your details onto anyone other than our advisors. We will not add your address or email address onto any mailing lists.

We are a registered Data Controller with The Data Protection Act 1998, registration number Z1587785.