Welcome to Plutonica trust deed advisory. We are an established trust deed introducer with offices throughout Scotland giving wider access to thousands throughout the country who are going through financial difficulties and worry with debt.
The protected trust deed is a form of insolvency in Scotland which means that entering a trsut deed scotland will affect your credit file as such. The Trust Deed was introduced as part of Scotlands bankruptcy act of 1985 and since then it has undergone a number of revisions, mostly due to the changing nature of the market place but also due to some companies mis-selling the services.
Reduce payments, stop interest and be debt free in 36 months with a Scottish Trust Deed
A Protected Scottish Trust Deed is a debt solution available to Scottish residents which can allow those struggling with problem debts to write off a large amount of what they owe and be debt free in as little as 36 months. Other benefits of the trust deed are that it will allow you to reduce your monthly payments and only pay back what you can afford, also if you are already in a position where you are being hassled by your creditors due to late payments then the Protection of the trust deed will get them off your back. After you have paid back what you can reasonably afford for the period of your Trust Deed the remainder of your debts will them be written off and you can work on building your credit rating back up.
Would I be eligible for a Trust Deed?
The Trust Deed will be granted as long as the majority of your creditors approve the trust deed and it will then be given protected status. An insolvency practitioner will administer your case for the period of the agreement and handle all correspondence with your creditors meaning you only have to make a single monthly payment towards your debts, as stated above this will be a pre-determined affordable amount that you agree to pay. If you own your own home and have a large amount of equity we will do an online evaluation of your property to make sure that your home or any valuable assets you may own are not brought into the Trust Deed or cause any problems. You can find more information about eligibility in our FAQ section.
How do I apply for a Trust Deed?
Applying for a Trust Deed will require that you speak to a money adviser over the phone who will ask some basic questions to determine first of all if a Trust Deed is in fact the best option for your own personal circumstances. This is done by determining your income and expenditure each month and taking note of any valuable assets you may have, after this the money adviser will asses who your creditors are and how much you owe to them (it’s a good idea to have this handy when you call). Once we have determined if the Trust Deed is right for you we will arrange a home visit for you to go over the paperwork and sign the trust deed otherwise you can always pop into one of our offices and discuss with an adviser there before signing. You can use the Trust Deed Calculator above to get a better idea of what your best option may be.
Trust Deed Alternatives
If during your your chat with the money adviser it is determined that a Scottish Trust Deed is not the best option for you, a better route may be to enter into a Debt Arrangement Scheme (DAS) or even go down the road of Sequestration. Regardless of the solution you enter into there is always help available and you should never bury your head in the sand when it comes to debt as with interest and charges they only mount up and get worse. For more details on other debt solutions besides Trust Deed see our Debt Solutions Page. A Logbook loan might be a good option if you fail to get a trust deed but own a car.