Trust Deeds

A Trust Deed or Protected Trust Deed is the Scottish equivalent to an Individual Voluntary Arrangement (IVA). It is a legally-binding solution which allows you to make a single, affordable monthly payment to a Licensed Insolvency Practitioner to cover all your unsecured debts.

A Scottish Trust Deed typically lasts for three years and is only available to those who live in Scotland. At the end of your Protected Trust Deed, all remaining unsecured debt will be legally written off.

How do Trust Deeds work?

An Insolvency Practitioner will assess what you can realistically afford, once a thorough income and expenditure check is completed.

Once the Protected Trust Deed is agreed, the Insolvency Practitioner will be responsible for distributing your monthly payment among your creditors.

At the end of your Protected Trust Deed period which is usually three years, any remaining unsecured debt will be legally written off.

Benefits of Trust Deeds

You will have complete legal protection from your creditors- no more hassle, no more phone calls.

You will make a single, affordable monthly payment.

Protected Trust Deeds typically last only three years regardless of debt amount.

Interest and charges are legally frozen while a Trust Deed is completed.

Any remaining unsecured debt will be written off at the end of the completed Trust Deed.

Disadvantages of Trust Deeds

Your credit rating may be affected for up to six years.

If you own any property, you may need to remortgage it and pay a portion of the money into the Protected Trust Deed at the end of the fixed term.

How can Debt Release Direct help?

At Debt Release Direct we understand that every circumstance is different and that some debt solutions are not right for everyone. But we believe that with our experience and knowledge, we could help you get back on track with your finances and find a solution that works for you.

Our Debt Release Direct advisors have expertise in the debt management field and can offer you the Trust Deed advice that you need.

To speak to one of our friendly, professional advisors to discuss your financial situation, simply call today on 0800 019 7465 or fill in our online form for a free call back.

Step One

Call a Debt Release Direct Advisor for FREE on 0800 019 7465. The advisor will then discuss with you how much you can afford to pay your creditors.

Step Two

Our team will then negotiate with your creditors to agree on a fixed payment plan, which will then be formally agreed at a meeting of creditors.

Step Three

As long as you keep up with these affordable monthly payments, after the end of the Trust Deed your remaining debt will be written off.

Trust Deeds are not administered by Debt Release Direct Limited, but are managed by their asscoaite Insolvency Practitioners, Mackenzie Stewart.

Simple. Effective. Direct.

To make Debt Release Direct work for you, please call one of our friendly, professional advisors on 0800 019 7465 today, or fill in our online contact form for a free call back.