TRUST DEED SCOTLAND

Trust Deed Scotland * individual voluntary arrangements * debt problems * Trust Deed Scotland * bankruptcy solutions * refused a loan * debt consolidation * financial solutions * advice * debt consolidation

Do you Live in Scotland?

In Scotland, there is an alternative to an Individual voluntary arrangement known as a Trust Deed. Trust Deeds have proved to be very successful and helped many people in Scotland with their debt problems. We can help you arrange a Trust Deed and provide you with expert advice every step of the way. A Scottish Trust Deed can vary and, depending upon the arrangement, you may be able to write off up to 90% of your debt. The usual time period for such an arrangement can be three years. One of the benefits of living in Scotland rather than England.

Your credit rating should not be affected by a Trust Deed and there is no need for a court appearance or any advertisements in the local papers. You will still be able to maintain a bank account and your employment will not be affected.

A Trust Deed is a legally binding voluntary arrangement, available only to people living in Scotland, which offers debtors an alternative to sequestration.

Sequestration is the Scottish form of bankruptcy.

A Trust Deed is designed to enable people who cannot repay their debts a way to establish, with the aid of a Trustee, a monthly affordable repayment schedule based on what the debtor can afford to pay. Trust Deeds last for a specified period, usually three years. When the specified term of the arrangement comes to an end, providing it has been successfully completed, any remaining debts are written off.

Trust Deeds are only applicable where a person does not have enough disposable income (the surplus income after day-to-day living expenses have been deducted) to meet his/her unsecured credit repayments.

It should be borne in mind that Trust Deeds are a formal and legally binding contract between the debtor and a licensed Insolvency Practitioner (the Trustee) and should only be entered into with this understanding.

Although considered an informal type of bankruptcy, a Trust Deed is still regulated by The Bankruptcy (Scotland) Act 1985. Trust Deed Scotland * individual voluntary arrangements * debt problems * Trust Deed Scotland * bankruptcy solutions * refused a loan * debt consolidation * financial solutions * advice * debt consolidation