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.