How long does it take to set up a Trust Deed?

It usually takes between 5-8 weeks for a Trust Deed proposal to be drafted by the Insolvency Practitioner; this may vary according to the complexity of the case.

The proposal is then passed to the creditors for approval, who may then take up to two weeks to approve.

Debt Advice Foundation is a registered UK charity offering free, confidential debt advice. If you need advice about Scottish Trust Deeds or would like to see if you qualify, please call the charity’s helpline to speak with a Advisor on 0800 043 40 50.

Related questions

What are the advantages of a Trust Deed? Will the Trust Deed affect my credit rating? Does a Trust Deed cover all of my debts? What happens if I stop paying into the Trust Deed? What are the disadvantages of a Trust Deed? Do creditors have to agree to my Protected Trust Deed? How much are Trust Deed fees? How much does a Trust Deed cost? What is a Scottish Trust Deed? What is a Protected Trust Deed?

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