Debt level
A Trust Deed cannot be granted where total debts are below £5,000.
Protected Trust Deeds in Scotland
Could a Protected Trust Deed
Could a Protected Trust Deed
help you move forward?
A Protected Trust Deed is a formal Scottish debt solution for people who cannot realistically repay all of their qualifying unsecured debt.
✓ One structured contribution✓ Interest and charges can be frozen✓ Qualifying remaining debt may be written off
For people living in Scotland. Checking your options does not commit you to a debt solution.
What is a Protected Trust Deed?
A Trust Deed is a formal agreement between you and a licensed insolvency practitioner acting as trustee. If it becomes protected, included creditors are generally prevented from taking separate enforcement action while you meet the terms of the arrangement.
A Trust Deed is not suitable for everyone. Your income, expenditure, assets, home, vehicle, debt types and total level of debt all need to be considered before it is recommended.
Contribution period
The standard contribution calculation is commonly based on 48 monthly payments or the equivalent.
Debt write-off
On successful completion, qualifying remaining unsecured debt included in the Trust Deed may be discharged.
What happens after a Trust Deed is protected?
Your trustee administers the arrangement, deals with included creditors and collects any agreed contribution. You must keep the trustee informed of relevant changes and comply with the terms of the Trust Deed.
A Trust Deed is recorded on the public Register of Insolvencies and can significantly affect your ability to obtain credit.
Creditors
Included creditors are subject to the statutory protections once the Trust Deed is protected.
Assets
Assets and property can be relevant. Homeowners should understand how equity may be treated before proceeding.
Credit file
A formal insolvency solution has a serious effect on your credit record and access to borrowing.
Common questions
Questions people ask before taking the next step
Can couples have a joint Trust Deed?
No. A Trust Deed is granted by an individual, so partners need to be assessed separately.
Will a Trust Deed stop creditor contact?
Once protected, included creditors are restricted from taking separate recovery action, although administration correspondence can still occur.
Will my home be affected?
Potentially. Home ownership and equity need to be assessed carefully before a Trust Deed is recommended.
Can all debts be included?
Not every liability is treated in the same way. An adviser or trustee must establish which debts can be included and which obligations continue.
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You don’t have to work it all out yourself.
Answer a few questions and find out which Scottish debt options may be worth discussing.
✓ Protected Trust Deed✓ Debt Arrangement Scheme✓ Other options where appropriate
Start My Scottish Debt Check →
Confidential. No commitment. For Scottish residents.