Take Our 30 Second Debt Test To See
If You Qualify For A Trust Deed...

Trust Deed Calculator...

Do I qualify?

Tell us about your situation:
Personal Details
Do I Qualify
Everything in the form was correctly filled if all the steps have a green checkmark icon. A red checkmark icon indicates that some field is missing or filled out incorrectly. In this last step you can confirm the submission of the form.

Trust Deed

Here is an example of how a Scottish Trust Deed could make your debts affordable:

Let say your unsecured debts
looked like this...

Credit Card: £4,000

Personal Loan: £19,000

Store Card: £5,000

Total Owed £28,000

Current monthly£1,100

After a Scottish Trust Deed...

New monthly£194

New monthly repayment is based on affordability and varies from plan to plan.

Key information

Visit our FAQ Section for any in depth information on Scottish Trust Deeds

Why Choose Us?

We are expert provdiers of Scottish Trust Deeds. We offer free help and advice on debt solutions and can guide you in the right direction with regards to your debts.

See more testimonials here...

Getting a Scottish Trust Deed – how does it work?

Obtaining a Scottish Trust Deed is a relatively simple process and is very similar to an individual voluntary arrangement (IVA). It can take up to eight weeks to get all the paperwork completed before you can start – so it is not an overnight solution – but it is time well spent in ensuring your agreement is legally binding with creditors and you can be debt-free in the future.


But how exactly does the process of getting a Scottish Trust Deed work?

Step 1 – doing a budget

Doing a household budget that shows your income, expenses and debt payments will be necessary before you begin. The process of choosing a trustee to oversee your Scottish Trust Deed will move much more quickly if you do, as anyone you approach will want to see what your financial commitments are.


Not everyone is suitable for a Scottish Trust Deed. You must have over £10,000 in unsecured debt (link to understanding your debt page) and a minimum of £150 in surplus income after your essential bills have been paid for your payment plan. Debt payments are NOT included in these calculations, as only the surplus income left once your household expenses have been met will be used to pay your creditors.

Step 2 - Choosing a Trustee

An application for and the subsequent administration of, a Scottish Trust Deed can only be made by a properly licensed individual with an in-depth knowledge of insolvency law and financial matters. That is usually an insolvency practitioner or an accountant that specialises in insolvency law, however it is a good idea to speak to two or three professionals about the insolvency process and what you can expect. Like any other profession it is important to compare the service you will receive and how comfortable you feel with each as you will be dealing with them for the next three to four years.

Step 3 – Dealing with your creditors and getting ‘Protected’

Once you have chosen who you want to look after your Scottish Trust Deed for the next three to four years, they can get on with the business of dealing with your creditors and getting your Trust Deed protected so none of them can pursue you any more. This is the point when you can sit back and start to relax. Your Trustee will give you advice about your budget, fill in all the paperwork, sort out the valuation and sale of any assets and contact your creditors to tell them of your Scottish Trust Deed and make them an offer based on your surplus income and asset values.


Simultaneously they will apply to the courts to get your Scottish Trust Deed protected so your creditors cannot attempt to sequester you while all the arrangements for your Scottish Trust Deeds are being completed. If the creditors that make up two thirds of your debt by value agree to the arrangements being proposed, your Scottish Trust Deed will be protected and your payment term can begin.

Step 4 – your Scottish Trust Deed begins

Your Trustee will be incredibly busy to start with, sorting out the process of releasing cash from your assets and setting up the payment programmes with your creditors. They will also help you arrange to have a new current account with a cash card so you can start fresh without any overdrafts that could complicate everything. You start with a clean slate. Once a month you pay your Trustee an affordable amount of money and they distribute it to your creditors. You will not have to deal with your creditors again for the duration of your Scottish Trust Deed.

Step 5 – you embark on a new way of life

For the next three years, you will lead a different life to the one you have been in the past. At the beginning of the Scottish Trust Deed process you will have agreed a budget with your Trustee and you must do you utmost to stick to this and live within your means. You will learn new money management skills as you bring your living expenses under control without unreasonable amounts of debt to push you off course. In fact, without a debt burden hanging over you, you might find you are able to manage your money and live within your means with ease.

Step 6 – You are free from the pressure of debt

After 48 months of payments your Scottish Trust Deed will come to an end and whatever is left you will no be expected to repay. Your Trustee will arrange all the final processes of the Scottish Trust deed and arrange the discharge documentation. This could take several months to complete and will seem frustrating as you want to be debt-free as soon as possible. However, those last few hurdles will be very low and easy to overcome and you will finally be free of the burden of debt that took over and controlled your life for so many years.

Many people choose to take that first chunk of surplus income that isn’t spent on debt on something nice to celebrate, a weekend away or a slap up meal, although don’t go crazy and overspend! But do try and mark the occasion.

For more information about Scottish Trust Deeds and what is involved, call and speak to one of our advisers in confidence on 0141 345 2904.

Follow Us