What is a Trust Deed?

A Trust Deed is a formal agreement between you and your creditors to pay back what you can afford towards your debts. A Trust Deed is designed for people who have taken out too much debt and are struggling to meet their monthly repayments. The usually repayment period for a Trust Deed is 36 months (3 years). You will be required to pay a set amount per month for the 36 month period, after that your creditors are legally obliged to write off any remaining debts.

Call the debt solutions helpline on: 0845 519 6093

Trust Deed Advantages

Pay what you can afford

Debt Frre in normally 36 months

Write off up to 90% of your debt

Interest and charges will be frozen by law

Trust Deed Disadvantages

Cant take on any credit until the trust deed is completed

Like Debt management, your credit rating WILL be affected.

You will have to release equity from your property

Is a Trust Deed right for me?

If you�re a resident of Scotland and struggling with unsecured debts of �12,000 or more, a Trust Deed could be the perfect solution for you. You�ll know exactly how much you will have to pay each month and also when your debts will be fully paid off. However, other debt help may be more beneficial (such as a debt management plan).

Are interest and charges frozen?

Yes. Once you have entered into a Trust Deed all interest and charges are frozen and no legal action will be taken against you.

How much does it cost to setup?

Nothing. Trust Deeds are designed to get you out of debt, not to increase it.

How long does it take to set up?

Most Trust Deeds usually take between 2-4 weeks to be drafted. They are then passed to your creditors for approval which can take up to 2 weeks. Once the Trust Deed is setup your creditors are LEGALLY NOT ALLOWED to contact you by any means and you will no longer have to deal with them anymore. You simply make the arranged payment to your Trust Deed Company for the set period (usually 36 months), once this has expired any remaining debts are written off and you walk away debt free.

Trust Deed Alternatives

If you are looking for an alternative to a Trust Deed, Debt Solutions can offer you other solutions to your debt problem.

Sequestration

Sequestration is the Scottish legal term for bankruptcy. It is one way of dealing with debts you cannot pay. You can free yourself from overwhelming debts so you can make a fresh start.

IVA

If you think that you would qualify for a Trust Deed but you are not a Scottish resident, then you might want to consider an IVA. Like a Trust Deed, an IVA is suitable for those with high debt levels (over �14500.00) and is struggling to make repayments. Any debts that you cannot afford are automatically written off as part of the agreement.

Debt Management Plan

If you have unsecured debts under �14500.00 and struggle to make repayments, then a Debt Management Plan could be for you. It is an informal agreement between you and your creditors and allows you much more flexibility than an IVA. By calling One Advice, you will be able to speak to our fully trained advisors who are in the best position to help guide you through all the available financial options and advise you which one is the most appropriate for you.

Can debt solutions help me get out of debt?

YES we can. Everyone’s personal situation is different and each debt solution is different so we need to work out which will best suit your financial needs.

We will complete a FREE 20 minute fact find with you to work out what your earning and spending and this will let us know how much you can afford to pay to your creditors and also which debt solution is best for you to help you get out of debt. You are under no obligation but I am sure you will be 100% happy with what out debt advisors can do for you and we have the lowest debt managenent fees in the industy

We pride ourselves in our friendly, professional approach to finding the right debt solution for every one of our clients, which is honest, confidential and always the ‘best advice’ based on your individual circumstances.

If you would like to speak to one of our friendly, professional debt experts about any of our debt solutions you can either call our debt solutions helpline on: 0845 159 6093 or complete our online contact form and one of our debt advisors will call you back within the hour.

Start you debt free life today! with one of our debt solutions.

Debt Management | Individual Voluntary Arrangement | Protected Trust Deed | Bankruptcy

Also have a look at out "DEBT FEEs" chart and see what the more popular debt management companies are charging.