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Trust Deed
Example


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
payments

After a Scottish Trust Deed...

New monthly£194
payments

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...

How A Scottish Trust Deed Could Affect Your Career?

No matter how desperate your financial situation, understanding how a Scottish Trust Deed can impact on the different aspects of your life is vital when deciding whether it is right for your individual circumstances.


The most common questions that are asked about Scottish Trust Deeds relate to how they impact on employment; do you have to be employed to have a trust deed? Can it damage your career if you do have one? Or could it even stop you from getting a job.

 

The following contains more information on what – if any – impact a Scottish Trust Deed will have on your career. Thankfully for the vast majority of people the answer will be ‘none’, but it always pays to be sure.

I’m unemployed – can I make payments out of my benefits?

To have a Scottish Trust Deed you must have a job that gives you a surplus income every month of £150 after all of your household bills (excluding debt payments) have been made. If you are on benefits you are being given a minimum amount of money by the government to pay your household bills, which should not be used for debt payments. To ensure this, insolvency laws do not allow benefit payments to be used for anything else including a Trust Deed.

Should I tell my employer I’m considering a Scottish Trust Deed?

That depends on what your job is. There are some professions where you are not allowed to have a Scottish Trust Deed or any other debt management solutions that involves insolvency. For example, the Police, the Fire Service and the Prison Service include a clause in their employment contracts forbidding employees from taking our Scottish Trust Deeds or sequestering themselves as they could be vulnerable to corruption or blackmail. Also some professional bodies such as those in the accountancy and financial services industries have strict rules about this for their members too. If this is the case and you are in one of these professions, you may have to let your employers know what is happening.

Could I lose my job or face disciplinary procedures?

It is highly unlikely you would lose your job, but that doesn’t mean you shouldn’t say anything. It is still important that you should tell your employee if you are in a position of trust or have a responsibility for handling money rather than let them find out. If necessary, speak to your Professional Standards and/or Welfare team in confidence before talking to your managers – they may be able to suggest solutions that you hadn’t considered.

Will my work colleagues find out?

Your work colleagues will only ever find out if you tell them. Yes, your Scottish Trust Deed will be advertised in the Edinburgh Gazette, but this is a trade publication read by lenders and finance professionals only and contains thousands of notices every week. It is very unlikely your work colleagues will ever see the advertisement about your Scottish Trust Deed. However, unless you absolutely trust your work colleagues it might be wise to say nothing about your Trust Deed in case they accidentally let slip in front of your managers.

Can a Scottish trust Deed affect my chances of getting a job?

Nine times out of ten a Scottish Trust Deed will not affect your chances of getting a job. Only if you choose to apply for a job with strict financial vetting procedures, such as the Police, the Fire Service or the Prison Service, will it be a problem. Also if you are a self-employed contractor applying for council contracts, you may find you are also required to undergo rigorous financial vetting along with any other contractors in your team.

 

For more information about how Scottish Trust Deeds can affect your career and chances of working in certain professions, or if you need advice about whether your employment contract contains a clause about insolvency, call and talk to one of our advisers on 0141 345 2904 in confidence.

 

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