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If you can answer YES to all these you may qualify for a Scottish Trust Deed... What is a Trust Deed?A Trust Deed is a legally binding agreement between you and your creditors to repay what you can afford towards your debts. It is a popular tool in the battle against debt problems and is becoming a popular form of debt help in Scotland. Why struggle to repay numerous debts when you can consolidate them into one lower, affordable monthly repayment, freeze interest and charges and reduce the hassle from creditors? How does a Trust Deed work?Trust Deed Scotland will assess your situation and work with you to establish how much you can afford to repay on a monthly basis. Once this has been agreed we then send you out the relevant paperwork for you to review. On receipt of this we will take over all correspondance to your creditors meaning you will no longer have to deal with them anymore. Trust Deed Scotland's experienced Insolvency Practioners will draft together the Trust Deed proposal and submit it to your creditors for review. Upon acceptance we will inform you in writing that your Trust Deed has been passed and you begin making your agreed single monthly repayment. Are interest and charges frozen?Yes. All interest and charges are frozen for the duration of the Trust Deed (36 months). After the period has expired any remaining debt which is left over is legally written off and you walk away debt free. Do I have to deal with my creditors again?No. They are legally NOT ALLOWED to contact you whilst on the Trust Deed programme. Any correspondance regarding your debt will be dealt by our Insolvency Practioner on your behalf. How much does it cost to setup?Nothing. Our fees are charged to your creditors so there is no setup charge to you. All you have to do is make the ageed reduced payments for 36 months and then any remaining debt is legally written off. |
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