Do I qualify for a Trust Deed?
A Trust Deed is one alternative to bankruptcy in Scotland. As such, you'll only qualify if you simply can't afford to repay your unsecured debts within a reasonable period of time. You will also need your lenders to agree to your Trust Deed proposal, which is not guaranteed.
Under the terms of a Trust Deed, you will have to make affordable payments each month. The idea is that you repay as much of the debts included in your Trust Deed as you can possibly afford for an agreed period (normally four years). Any unsecured debt you can't repay during that time is written off on completion - as long as you have kept up with your agreed payments.
If you think you might qualify, request a callback on the right for an instant assessment of which solutions could help you. You can also call us on 0161 667 2599 for a one-on-one chat with one of our expert debt advisors.
How much debt do I need to apply for a Scottish Trust Deed?
You need to have a minimum of £5,000 of debt to qualify for a Trust Deed. The most important thing is whether or not you are able to repay what you owe in full within a reasonable time. If you aren't, then a Trust Deed could be an option.
We could help you no matter how much debt you're in as long as it is at least £5,000. We'll help you decide whether a Trust Deed is right for you - and if it isn't, we'll recommend a more suitable solution.
What if I don't qualify for a Trust Deed?
There are plenty of other options available to people with unaffordable debts. If you really can't afford to repay what you owe, then you could even consider bankruptcy (which helps thousands of people every year).
Or it may be that with our help, you can afford to repay more of your debts than you realise. Some of the other debt solutions we provide include:
For an assessment of which solutions could help you, request a callback.
If you'd like further advice on what help is available, get in touch on 0161 667 2599.