Use Scottish Government Legislation To Write
Off Up To 90% Of Your Debt And Clear The
Remaining Balance In 36 Months

What Is The Definition Of A Scottish Trust Deed?

A Scottish Trust Deed is defined as a legal document between a person and creditors.  It is established to help a person pay back an amount of money that is owed.  It is legislated by the government and is meant to help a person who is suffering from serious monetary difficulties.  It is especially meant to help a person who is finding it hard to pay unsecured loans each month.  A person must pay one payment for three years.  After that point, any debt that remains is legally written off.  The person essentially walks away without any further debt.  On a high note, the Accountants In Banking have noted a decrease in the number of cases that are being reported. 

 

How Can This Help?
A Trust Deed may help a person in various ways.  In place of paying different payments to numerous creditors, a Trust Deed will turn all of these payments into one single debt.  The amount will be much more affordable and there will be no need for a consolidation loan.  Interest and other fees are frozen for a particular time period, so no further debt will accumulate.  When a person must make minimum payments to different creditors, most of the money will be headed to the bank. Instead of paying so much out of pocket each month, the one lump payment goes directly to where the money is owed.

After a person has finished paying the set amount for the three year period, all remaining debt will be gone.  This number can be up to 90 percent of the total debt amount. In other words, when a person owes £55,000, a person may possibly be able to erase £49,500.  This is an incredible amount of savings and can give a person a fresh financial start.  Even though it appears on a credit report, it is a beneficial way to get out of debt.

A person's assets, including an automobile and house may be protected.  This means that they cannot be repossessed by lenders.  This means that a person will be able to continue living a normal life. On the other hand, during sequestration, a person will be expected to cover the debt that is not paid back.

Another positive feature of a Trust Deed is that after a person begins the programme, a creditor is not allowed to make contact. This means that there will be no threatening phone calls or scary letters that must be dealt with.  A Trust Deed is unlike Scottish Debt Management.  Management is not binding by law, which means that a creditor does not have to freeze the interest and fees.  It also means that it is still possible to be bothered with phone calls as well. No one enjoys the calls and other forms of harassment that creditors use to get money.

 

Do I Qualify For Trust Deed?

Answer a few simple questions on the form above and our system will see if you qualify to write off up to 90% of what you cannot afford to repay.

Do I Qualify?

Totally Debt Free In 4 Years!

A typical Trust Deed arrangement will last for 4 years (unlike an IVA which is 5 years) meaning you will be back on your feet with your finances faster!.

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