Protected Trust Deed Scotland

A Protected Trust Deed in Scotland is a legally binding agreement who people who are struggling with debts. Scotland’s No.1 debt management solution.

How does a Protected Trust Deed work?

If you have live in Scotland and have unaffordable debts over £5,000, a Protected Trust Deed will usually last for a period of 4 years. You will replace all existing credit cards, loans, overdrafts, payday loan repayments etc and instead replace with a new lower single monthly payment based on what you can afford.

After the protected trust deed is complete, all remaining debts that are included in the protected trust deed are then written off, and you will be debt free.

Who qualifies for Protected Trust Deeds in Scotland?

✔️ You live in Scotland either now, or in the last 12 months.

✔️  Be insolvent. In other words, unable to pay back your unaffordable debts as your liabilities are greater than your assets.

✔️ You have unsecured debts totalling more than £5,000.

✔️ You are able to pay a monthly contribution to your Trust Deed due to having a sufficient expendable income.

Advantages of Trust Deeds

✅ Fixed payment period. Typically 48 months.

✅ Unaffordable debts written off.

✅ No further borrowing. No application fees.

✅ Stops legal action, interest, fees and charges.

✅ Most unsecured debts can be included within your Trust Deed.

Disadvantages of Trust Deeds

❌  Your details will be added to the Register of Insolvencies, (ROI), a public register, for 5 years.

❌ It will show on your credit rating for a period of six years.

❌ You may be required to release equity in your property.

❌ If you fail to maintain payments according to the terms of your Protected Trust Deed, you could be sequestrated.

Find Out More

Contact an expert money advisor at DAS Scotland to find out more about Protected Trust Deeds and all the other debt solutions available to you.

We are here to help you make an informed decision based on your affordability and support you every step of the way. If you would like a fresh start, get in touch today.

📞 0141 380 0588

🕕 You can also try using our Debt Repayment Calculator tool