Debt Advice Articles
Interest and charges are frozen on a Protected Trust Deed, meaning the debts stop growing.
Entering a Trust Deed won't stop you making your mortgage payments if you're a homeowner. In fact, it should help you stay on top of them.
You might qualify for LILA if you have a low income and few valuable assets.
If you are on a low income and have few assets, you could write off debt by taking the LILA route into bankruptcy in Scotland.
Bankruptcy is usually seen as a last resort: there may be another debt solution, like a Trust Deed, that's more suitable.
If you receive benefits, you could still qualify for a Trust Deed. Speak to a debt expert to find out about your options.