Debt Help

Seeking Debt Help or advice in Scotland? There are a number of private commercial and public sector organisations you can turn to but in the case of a trust deed, the fees will remain the same no matter where you go.

If you would like to speak to us about securing a trust deed there are a number of different solutions we can provide. Securing a Trust Deed has a process, heres how it works:

Stage 1: Criteria

When applying for a Scottish Trust Deed it will be necessary to go through a criteria form and determine if it’s the best solution for you. This criteria form will consist of an income and expenditure, Creditor information and how much is owed and details of any valuable assets you have in your name such as your home or cars if you have either.

 

Stage 2: Approval

Once a clear picture of your finances has been built from the details above, your disposable monthly income will be determined and this will be the amount you pay towards the Trust Deed. When you agree on this amount, either you can visit your Trustee (the Insolvency Practitioner who will be handling your case) or arrange for a home visit where someone will come to you to show you the documents and sign.

 

Stage 3: Protected Status

Once your income and expenditure has been sent to your creditors notifying them of your signing the trust deed you will be granted ‘protected’ status of the trust deed so long as more than two thirds of your creditors agree. Your trustee must be vigilant in determining that you do qualify for the Trust Deed during the criteria stage as failure for the Trust Deed to be granted protected status may result in your creditors calling for your Sequestration (bankruptcy).