A Trust Deed, which can also be referred to as a Protected Trust Deed, Protected Trust, Scottish Trust Deed is a binding legal agreement between a person who is not able to repay their debts and their creditors. In this agreement a professional licensed Insolvency Practitioner is appointed to act as the “Trustee” managing the individuals repayment relationship with their creditors.
Trust Deed – Debt Free in Just 36 Months!
The Scottish Trust Deed can help you if you are not able to keep up with repayments on your debt or reach an agreement with your creditors on your own behalf. Once the Trust Deed is put in place you will be able to begin monthly repayments for a portion of your overall debt that is within you can realistically afford. The length of this Trust Deed agreement is usually 36 months or 3 years and after this term all remain debt within the agreement is legally written off meaning that you are debt free with Scott & Co.
Trust Deed – No More Calls From Creditors!
Further benefits of the Trust Deed agreement are that all interest which has been due on outstanding debts is frozen meaning that the debt will not rise any further and all creditors will no longer be allowed to call to chase repayments. This allows you, upon entering the Trust Deed to be able to have manageable monthly repayments for your whole debt, writing off what you cannot afford to pay. Also there is no need to live in fear of answering the phone to your creditors Get Help From Mike.
Trust Deed – Scottish Government Approved
A Scottish Trust Deed is a completely legal way to get out of debt and move on towards a debt free future whilst protecting your home and your car. The Trust Deed scheme is a government backed way to help you to regain control over your finances once again and to be able to plan for the future with certainty.