Trust Deeds for Scottish residents

A Trust Deed is a form of Government legislation that is in place to help residents of Scotland with debt problems. It acts as formal agreement between debtors and creditors, whereby after negotiations with the creditors they agree to accept a single lower affordable monthly payment over a fixed period of time. When and agreement has been reached creditors cannot add interest or charges to an account. It protects debtors from further demands for payment from creditors. Once the Trust Deed is complete, the remainder of debts can be written off.

A Trust Deed is an alternative to bankruptcy for people finding it difficult to keep up repayments.
Once an offer is accepted monthly payment are arranged based on what the debtor is able to reasonably afford and is normally spread over 36 months. The original debt can be reduced by up to 85% leaving the remainder to be written off

It is extremely important not to let your debts get any worse
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