Trust Deeds Scotland

If you are worried or struggling with debt, a Trust Deed in Scotland can:
  • Help you to become debt free in as little as 48 months

  • Reduce your monthly repayments to a that you can afford

  • Stop unwanted phone calls and letters from your creditors

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Trust Deeds Scotland

What is a Trust Deed?

A Scottish Trust Deed is designed to help people who are struggling to meet their monthly repayments to their creditors.

If you cannot afford to keep up your repayments on loans or credit cards a Trust Deed Scotland may be a solution worth considering.

Trust Deeds in Scotland are formal agreements between debtors and their creditors where the debtor agrees to pay back as much as they can afford towards their debts over an agreed period.

A Scottish Trust Deed allows you to reduce your monthly creditor repayments and can help you to become debt free in as little as 48 months.

Trust Deeds Scotland are supported by the Scottish Government and are regulated by the Accountant in Bankruptcy. They can be recorded in the Register of Insolvencies as being protected providing they meet certain conditions.

When a Scottish Trust Deed becomes protected, no further action can be taken against you by your creditors for the recovery of the money you owe them.

Providing you adhere to the terms and conditions of the Trust Deed Scotland, the balance of any unsecured debts included in your trust deed can be written off after its successful completion.

Although the minimum repayment term for a Trust Deed in Scotland is 48 months, depending on your circumstances the term could be extended.

Find Out Here if You Qualify for A Trust Deed in Scotland

How Trust Deeds in Scotland Work

A Scottish Trust Deed must be arranged by a licensed Insolvency Practitioner. It is a legally binding contract between you and your lenders which allows you to repay your unsecured debts without entering bankruptcy.

Trust Deeds Scotland Criteria

In order to qualify for a Trust Deed in Scotland, you must be a Scottish resident and have lived in Scotland for a minimum of 6 months. You must be struggling to repay your debt but be able to make a monthly contribution from your earned income. Only certain unsecured debts can be included in your Trust Deed.

Advantages and Disadvantages of a Trust Deed in Scotland

Like all Scottish debt solutions, there are advantages and disadvantages that need to be considered carefully. It can provide financial stability in as little as 48 months. It can be an alternative to sequestration. Interest and charges on your unsecured debts are frozen from the date it is issued. Taking out a Trust Deed in Scotland will affect your credit rating. Only unsecured debts are covered. You cannot take out any additional credit whilst you are in a Trust Deed.

Scotland Trust Deeds Fees and Scotland Trust Deed example

Debt Advisory Services (Scotland) Limited do not charge you any fees for the provision of our review, referral or Scottish Trust Deed services.
We do however receive a fee from insolvency Practitioner for the time it takes to prepare and submit your case to them.

Trust Deeds Scotland – Terms and Conditions

You should read the Terms & Conditions that apply to a Scottish Trust Deed very carefully to make sure that you fully understand them. If there is anything you do not understand, you should seek advice. When you sign these terms of business, you are agreeing to be bound by them.

Scotland Trust Deeds FAQ’s

Frequently Asked Questions – this section includes the questions and answers to the most frequently asked questions about Trust Deeds in Scotland. If you are unable to find the answer you are looking for, please contact us, we will be happy to help.

Advantages and Disadvantages of Scotland Trust Deeds

Like all debt solutions, there are advantages and disadvantages that need to be considered carefully.

Advantages of Scotland Trust Deeds:

  • Payments are based on what you can afford.
  • Once your application for a Scottish Trust Deed has been processed, your Trustee will deal with your unsecured creditors, removing any pressure from unwanted phone calls and letters.
  • All administration is dealt with by the Insolvency Practitioner. Once the Scotland Trust Deed has become protected, the creditors included in the plan cannot take legal action to recover the money you owe them.
  • Creditors are bound by the terms of Trust Deeds in Scotland once the acquire protected status.
  • Trust Deeds in Scotland are regarded as being is a private arrangement between you and your Creditors, no one else needs to know about it.

Disadvantages of Scotland Trust Deeds:

  • If you are a homeowner and have equity in your property, depending on the level of equity involved it may have to be released to pay your creditors. There are, however, various ways this can be done without the need to sell your home.
  • An application for a Trust Deed in Scotland can fail to become protected if the majority of creditors object to it, however If this was to happen other debt solutions are available.
  • Depending on your occupation, signing a Scottish Trust Deed could affect your employment. You should check your contract of employment before committing.
  • It will affect your credit rating and you may find it hard to get credit when the Scottish Trust Deed ends.
  • Only certain unsecured debts can be included in Scottish Trust Deed, secured loans and hire purchase agreements cannot be included.

Your Next Step To Becoming Debt Free:

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

How a Trust Deed Works

Scottish Trust Deeds were introduced as a debt solution to help people who were struggling to repay debts to their creditors. As they are not the only Scottish debt solution available, other alternative solutions should also be considered.

A financial review should be carried out to identify the best solution to suit your personal circumstances.

We at Debt Advisory Services (Scotland) Limited will conduct a review of your financial circumstances free of charge to help you identify the best debt solution and to ensure that we provide you with quality Scottish Debt Help.

If, when we have completed your financial review and after considering all options you feel that a Trust Deed in Scotland is the most appropriate debt solution for your circumstances, the next stage is for us to prepare your case and to appoint an independent Insolvency Practitioner who will act as your trustee and handle your application.

We only refer fully qualified, professional and approachable Insolvency Practitioners to our clients. Once appointed, your Trustee will present your case to your creditors and providing that there are no significant objections to your proposals from your creditors, your Scottish Trust Deed will become protected. Once it becomes protected, your included unsecured creditors will be unable to take legal action to recover the monies owed by you.

Although Trust Deeds Scotland can be highly effective as a debt solution, they should be viewed as a last resort or as an alternative to bankruptcy and full consideration should be given to other debt help solutions prior to committing to a Trust Deed.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Trust Deeds FAQ's

Do creditors have to accept a Trust Deed Scotland application?

Creditors do not have to accept an application for a Trust Deed in Scotland. A Scottish Trust deed application will fail to become protected if creditors representing over 33% of your total debt value or if over half of them object in writing within 5 weeks of receiving notice of the application.

What happens if my Trust Deed Scotland does not become protected?

Should your Creditors object to an application for a Trust Deed in Scotland there are other alternative debt help solutions available.

Do Scottish Trust Deeds affect your credit rating?

Having a Trust Deeds in Scotland will adversely affect your credit rating.

How long do Scottish Trust Deeds Last?

The term of a Scottish Trust Deeds can vary, but they usually last for 4 years.

Do I have to tell my employer?

No, Trust Deeds are a private and confidential matter between you, your Trustee and your Creditors. Provided you adhere to your agreement your appointed Trustee will not normally contact your employer. As some employees will be found to have breached their contract if they have signed a Scotland Trust Deed application or other formal debt arrangement scheme, you should review your current contract of employment prior to committing to any formal debt solution. Please contact Debt Advisory Services (Scotland) Limited for more information.

Who is eligible for a Trust Deed Scotland?

Trust Deeds are only available to individuals who are residents of Scotland.

What level of debt is required for Scotland Trust Deeds?

Trust deeds Scotland are best suited for individuals with high levels of debt. As with all forms of Scottish debt help solutions, Scottish Trust Deeds are only appropriate if they suit an individual’s personal and financial circumstances.

Can my Trust Deeds be cancelled once they have been set up?

Trust Deeds Scotland is a legally binding contract and as you cannot cancel your agreement once you have signed the application, you should consider other debt solutions and their associated advantages and disadvantages prior to making a commitment.

Can I include all my debts in Scottish Trust Deed?

Only certain unsecured debts can be included in a Trust Deed in Scotland.

Will I have to release the equity I have in my home?

Depending on the level of debt and equity involved, you may have to release the

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Trust Deed Service and Fees

Trust Deed Fees

The fee that we receive from the insolvency Practitioner for preparing and referring a Trust Deed to them varies from case to case, the average fee received being £1250 plus VAT.

Once your case is passed to the Insolvency Practitioner, you will be informed in writing by them of the proposed fees for the Trust Deed, prior to committing to a Trust Deed. Your trustee’s fees and the costs of administering your Trust Deed, which are included within your monthly contribution, will be agreed by the trustee and your creditors. They are deducted from your agreed contribution before any payment is made to your creditors.

Trust Deed Example

Example based on an actual client with approx. £15,000 of unsecured debts. She has a Protected Trust Deed which will last for 4 years. She has no assets or equity.

A breakdown of payments on this example:

Agreed Clients Monthly Payment£150 x 48 months
Total repaid by individual£7,200
Insolvency Practitioner fixed Administration fee£2,500
Trustee’s % Based Realisation Fee (typically 20% of total realisations)£1,440
Registration Costs (approximate costs)£600
Total costs over 4 years£4,540
Net paid to creditors – (Total contributions £7,200 less total costs £4,540)£2,660
Total unsecured debt effectively written off on completion£12,340 (82%)
Trust Deed Terms and Conditions

Trust Deeds in Scotland: Terms and Conditions

The agreement will be between the applicant (the ‘Client’) and spouse/partner (if appropriate) and Debt Advisory Services (Scotland) Limited whose address is 3 Stewart Street, Milngavie, Glasgow, G62 6BW

You should read these Terms & Conditions carefully to make sure that you fully understand them. If there is anything you do not understand you should seek advice. When you sign these terms of business, you are agreeing to be bound by them.

To enable us to proceed with your Scottish Trust Deed application, you need to sign both copies of our terms and conditions, return one signed copy to us and retain the other for your files.

The contract between you and us will commence on the day we receive your returned signed copy of our terms and conditions.

The agreement between you and us is made on the following terms and conditions:

Following our initial review service, you have decided that a Trust Deed in Scotland is the most suitable option for you at this time to help you deal with your current financial situation.

Definition of Terms

‘We, us’ means Debt Advisory Services (Scotland) Limited.

‘You’ means the person or persons whose names are listed below.

‘Creditors’ means all the organisations or people (or both) that you have told us are owed money from you.

Our Obligations to You

  • Once we have received your signed copy of our Trust Deed Scotland terms and conditions, we will commence preparing your case.
  • We are unable to provide our service to you unless; you have signed and returned a copy of our terms of business and provided us with any required supporting documentation.
  • We will write to your creditors for an up to date position on your accounts. We will require a signed letter of authority from you which authorises your creditors to provide us with the information that we require.
  • We will arrange a survey of your property (homeowners only) to establish if there is any equity.
  • We will, once we have fully prepared your case introduce you to one of our carefully selected, qualified Insolvency Practitioners who will then be responsible for liaising with you and your creditors.
  • Should your Scotland Trust Deed Proposal not be accepted by your creditors, the Insolvency Practitioner may recommend alternative solutions to deal with your debts. Debt Advisory Services (Scotland) Limited is not responsible and shall not be held liable for any advice given to you by the Insolvency Practitioner or any decisions or agreements made between you and the Insolvency Practitioner.

Your Obligation to Us

  • You must provide us with full, accurate and honest details of your net income, outgoings, creditors and dependants You must also provide us with details of any outstanding judgements against you or any actual or threatened court proceedings together with any other relevant information that we may require.
  • You must send us originals or copies of all correspondence you receive from your creditors so that we can deal with them on your behalf. Your correspondence will be scanned and stored by us as an electronic image or kept on file.
  • You must provide us with the required information and identification documentation to satisfy our Anti-Money Laundering procedures prior to signing the Trust Deed in Scotland application.
  • You must tell us if your personal or financial circumstances change prior to making your application for a Scottish Trust Deed.
  • You agree not to enter any negotiations with your creditors or to apply for any further credit facilities.
  • By signing our terms and conditions, you are authorising us to liaise and exchange your personal information with your insolvency practitioner and creditors or authorised agents.
  • You fully accept that if you provide any misleading or inaccurate information, your Trust Deed Scotland application will be rejected and could result in criminal proceedings being taken against you.

Services we do not Provide

  • We do not lend money or provide any credit facilities.
  • We do not provide legal advice.

Termination of the Agreement

  • You may terminate this agreement at any time before signing your Scottish Trust Deed application.

Personal Information

  • We agree to keep all information received from or about you confidential. We will not pass this information to anyone else other than your Insolvency Practitioner or your creditors without your permission, except in line with our Data Protection Statement noted below.
  • If you have opted to receive information from us by text messaging or email, You are responsible for the security of your mobile telephone or personal computer and you must take all reasonable precautions to prevent anyone else from accessing your information, including using all security features available to you and for informing us immediately if your mobile or personal computer is lost or stolen, your number or email address changes or if you suspect someone may have access to the information We send You.

Data Protection Statement

  • Please read this statement carefully as it explains what personal information We collect about You and how We use this information.
  • We collect personal information about you both directly from you when you apply for our services and from your Creditors as authorised by your Letter of Authority.
  • We will use your personal information to provide our services to You, and in particular to prepare your case for your appointed Insolvency Practitioner.
  • We may also use your personal information to contact you with details of other products and services which we think may be of interest to you.
  • You may inform us now if You do not want us to use or disclose your personal information as set out above or if you wish to amend the way we communicate with you.
  • Other than as set out above, We will only disclose your personal information to the extent required by law, court order or as requested by other government or law enforcement authority, or to any company or other entity to whom we either transfer or subcontract any or all of our obligations to You under this agreement.
  • You may contact our Data Protection Officer at our address given above for further information, or if you want to request a copy of the personal information which we hold about you or to ask us to amend any inaccurate information held by us.
  • Please note that we may record and monitor your telephone calls to us to help improve our service.

Other Terms : Trust Deeds Scotland

  • These Terms & Conditions set out the entire agreement and understanding between you and us and supersedes all prior agreements, understandings or arrangements (whether written or oral) in relation to the provision of services.
  • You acknowledge that You have entered into this Agreement in reliance only on the representations, warranties and promises specifically contained or incorporated in this Agreement and, except as expressly set out in the Agreement, We shall have no liability in respect of any other representation, warranty or promise made prior to the start of this Agreement unless it was made fraudulently.
  • We shall not be deemed in breach of this Agreement or otherwise liable to you if we are prevented or hindered from performing our obligations under this Agreement by reason of any event beyond our reasonable control.

Why choose Debt Advisory Services (Scotland) to arrange your Scottish Trust Deed?

  • As we provide Scottish debt help to many people each year, we are regarded as being one of Scotland’s leading companies in this area.
  • Our friendly and experienced advisers receive new enquiries regularly from people throughout Scotland seeking for Scottish debt help to deal with their creditors.
  • We are regulated by the Financial Conduct Authority and licensed under the Data Protection act.

To find how Scotland Trust Deeds can help you to become debt free:

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    Forward your details to us by completing our contact form and we will call you back.

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    Ring us on 0141 956 4088 or on 0800 011 2322 (Free from Landlines) to discuss your situation with one of our fully trained advisors.

If you need confidential advice or help to quickly find the best solution tailored to your personal circumstances call us now on

0800 011 2322 or
0141 956 4088

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