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What is a Trust Deed?

A Trust Deed is a debt solution available to residents in Scotland, similar to the IVA. It is a legally binding arrangement drawn up between you and your creditors in which you agree to pay your creditors what you can afford. In most cases this means paying back only a percentage of what you can afford.

It is designed to enable those who cannot afford to repay their debts a way to establish a monthly repayment schedule based on what you can actually afford. The payment is collected each month by an Insolvency Practitioner (person who manages a Trust Deed) and distributed to the creditors on your behalf.

A Trust Deed usually lasts for a period of 3 years, at the end of which any remaining debts are effectively written off leaving you with no more unsecured debt..

A Trust Deed is a serious option for addressing your debts so it should be considered carefully. IT can impact your credit rating. If you are a homeowner, you may also be required to release any equity. Read more advantages and disadvantages below.

Remember, a little bit of advice can go a long way. Contact us to see what options are available to you.

Trust Deed Advantages

  • 1 easily affordable monthly payment based on your income and expenses.
  • A Trust Deed offers you protection from creditors.
  • Creditor pressure is relieved as you can direct them to your case manager.
  • Can be complete in as little as 1 year if you can offer a lump sum payment.
  • All interest frozen immediately.
  • Suitable for tenants or homeowners, individuals or couples, and even business owners.
  • We can setup a Trust Deed in as little as 4 weeks.

Trust Deed Disadvantages

  • If you are a homeowner with equity in your property you may be required to introduce part of your share of this equity in the final year of the arrangement. A remortgage may be restricted and on less favourable terms. If you can’t get a remortgage your arrangement can be extended for up to another year.
  • If your circumstances change, and your insolvency practitioner can’t get creditors to accept amended terms, the Trust Deed is likely to fail. You will still owe your creditors the full amount of what you owed them at the start, less whatever has been paid to them under your Trust Deed.
  • If your Trust Deed fails, your creditors may request that you be made bankrupt. This will always be discussed before your arrangement commences.
  • Your credit rating may be impacted for up to six years from the commencement of your Trust Deed. Your details will be shown in the Edinburgh Gazette.


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Money Advice Service


You can get free debt advice from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. Click here for more information.

Fees and key info


We are happy to provide you with debt advice only. We only charge a fee if you opt for one of our debt solutions. Fees will depend on which debt solution we provide and what your personal circumstances are. All fees will be discussed prior to commencement of any service or debt repayment plan.

Click here to read our fees and key info

Please note: From time to time we may refer you to other services providers or charities such as the CAB.

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