What are the advantages of a Trust Deed?
The advantages of a Protected Trust Deed are as follows:
- Your Trustee will deal with all creditor correspondence and queries.
- All interest and charges on the debts are frozen on the date the Trust Deed is signed.
- Once the Trust Deed has been given protected status, no further action can be taken against you by your creditors.
- Will enable you to make a single payment each month during the term of the deed.
- After paying the Trust Deed for the defined term, usually 48 months, any remaining debt is written off.
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.