Trust Deeds

A Protected Trust Deed is ideal for someone who lives in Scotland and has unsecured debts that are mounting and becoming unmanageable.

It allows you to consolidate all your monthly payments into one affordable monthly repayment. Over the duration of the Deed, which is normally four to five years, you will pay what you can reasonably afford based on your income and any assets you may have.

It is a voluntary agreement between an individual and a licensed Insolvency Practitioner (the Trustee). The Trustee presents your Protected Trust Deed to your creditors.

It will be protected if no more than half (in number) or a third (in value) of your creditors object to it. Once protected, your creditors cannot take further action against you or make you bankrupt. Your Trustee will continue to administer your Protected Trust Deed over its duration.

Individual Voluntary Arrangements

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay all or part of your debts. You agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors.

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Debt Relief Orders

Debt Relief Orders (DROs) are one way to deal with your debts if you owe less than £20,000, don’t have much spare income and don’t own your home. You get a DRO from the official receiver, an officer of the bankruptcy court...

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