A Scottish Trust Deed is a voluntary and legally binding agreement between you and your creditors that is designed to help you manage your debts.
A licensed Insolvency Practitioner (Trustee) will negotiate with your creditors & agree what you can realistically afford to repay. You then pay one lower monthly fee and at the end of your Trust Deed period your remaining unsecured debt will be written off.
The benefits of a Trust Deed are:
- One affordable repayment based on your individual circumstances
- Creditor contact will stop
- Legally protects you from sheriff action
- Regain control of your finances
- Stops attachment to earnings
- Write off remaining debts & get debt free
- All costs are included within your affordable monthly payments