Write Off Unaffordable Debts With A Scottish Trust Deed... 82% of people who we help become debt free in 36 months

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    Write Off Unaffordable Debts

    Such as Loans, Credit Cards and Unsecured Debts.

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    Legislated Debt Solution

    A legislated arrangement between you and your creditors.


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How A Scottish Trust Deed Works...

If you want to find out how a Scottish Ttrust Deed works, you must first understand what it is. Trust deeds are a form of government legislation that was introduced in order to assist individuals who were finding it difficult to repay their debts. It gives people more flexibility to make payments to their creditors.

The Process

The process consists of the individual making lower monthly payments towards their debts for up to three years, after which the remaining monies owed will be written off. This method helps borrowers who are in financial difficulty to make one affordable payment towards all their debts. This is a legal and helpful tool to help you get back on the road to financial freedom and stability.

Repayment Period

The repayment period for a trust deed is normally up to 36 months, and you will have to pay one set amount every month for the entire period. Most trust deeds take around 1 month to be drafted, before being passed to your creditors for approval. This will take a further two weeks. Once it is all set up, the creditors are not allowed to make any contact with you.


In order to enter such an agreement with your creditors, you must be a resident of Scotland. You need to consult the services of an insolvency practitioner who will be able to explain all your options to you, based on your present financial situation. The qualified practitioner will evaluate your income to debt ratio, such as mortgage, council tax, utility bills, and all other outgoings. Whatever is left from your earnings will be divided in equal proportions to pay towards your debts.

Must Be Signed Off By A 'Trustee'

If, after learning how a Scottish trust deed works, you do decide to go ahead, the necessary paperwork will have to be signed and your trustee will try to protect your trust deed. These deeds are very much similar to the English version of Individual Voluntary Agreement or IVA as they are better known by, although there are some differences between the two, they both have the same objective. The debt repayment will be agreed by both the debtor and the creditor.

The main purpose of setting up a trust deed is to enable the debtor to avoid bankruptcy, and at the same time the creditors will receive their payment too. If the borrower does go bankrupt, the creditor will not receive any money at all, so this form of help in Scotland is a better choice for everyone. Bankruptcy will be more detrimental to your credit score and you will stand to lose your home too.

Creditor Approval

The creditors will be given 5 weeks to object to the offer they are made about the amount of money you can pay them each month for 3 years. If they fail to accept or reject the offer, or if only less than half of them object, you can start making the proposed payments. Once you have successfully made your monthly payments in a prompt manner, at the end of the three year period, you are considered to be debt free, even if you have only made a fraction of the payments.

However, there are some assets that you will have to sacrifice along the way. For example, if you own a vehicle that you do not need for work, then you will have to sell it in order to add the value to your trust fund. This is at first funded by whatever is left of your earnings as calculated by your trustee, however, any assets that you do not need, such as your bike, car or even expensive collections will have to be sold off to add to the fund.


Now that you are more familiar with how a Scottish trust deed works, you will be able to make an informed decision regarding your finances. This process offers a quicker way to rebuild your credit without going bankrupt. Your credit score will look better after three years once you have paid off all your debts. Just because you owed money that you could not afford to repay immediately, does not mean your credit has to get damaged. Although this option will stay on your financial records for 6 years, it still suggests that you took responsibility of your debts and once you pay your way out, you will be in a good position to obtain loans again.

Write Off Unaffordable Debts

Entering into Scottish Trust Deed will allow you to write off unaffordable unsecured debts leaving you a clean slate and a brighter future to look forward to. There are some debts that cannot be written off. Click here* for more information on the limitations.

Relief From Debt Pressure

Unlike an IVA which can lasts for a minimum of 60 months, the minimum time to complete a Scottish Trust Deed is 48 months (4 years) meaning you will be free from the pressures of debt quicker.

Legislated Debt Solution

Trust Deeds are a legislated debt solution, which unlike debt management, means as long as you keep up the arranged repayment plan, you can return to a more stable financial position in life and start to plan for a brighter future.


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