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What is a Trust Deed?

What happens during a Trust Deed?

Common questions

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Trust Deeds in Scotland

Through our experience with Scottish Trust Deeds we know when it's a suitable solution. Quickly find out if a Trust Deed is right for you with our three steps

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In Scotland, a Trust Deed allows you to repay your lenders over a set period, usually 4 years, and after this time, any outstanding debts will be written off.

A Scottish solution

Trust Deeds are only available if you live in Scotland.

Trust Deeds are affordable

You'll only make one reduced payment each month.

Freeze interest & charges

If approved, lenders will freeze interest and charges and they'll stop chasing you.

Your debts will be written off on completion

Once it ends, usually after 4 years, whatever's left of your unsecured debts, included in your Trust Deed, are written off. Any unsecured debts not included will remain outstanding.

Equity release

If available, you may need to release equity in your property to put towards your Trust Deed, and if you can't remortgage, you may have to make extra repayments. Remember re-mortgaging could result in a higher interest rate.

Terms of the Trust Deed

You could be required to reduce spending on non-essential items. If the Trust Deed fails, you could be at risk of bankruptcy and all interest and charges will be added back onto your debt balance.

Credit rating

Details of your Trust Deed will appear on a public register and your credit rating will be adversely affected.

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Trust Deeds are available subject to eligibility and acceptance, alternative solutions may be offered. Fees payable if continuing service are provided. Our fees are explained here.

To find other sources of free advice visit Money Helper. It’s here to listen and give free, impartial, trusted guidance. Based around you and backed by government.

You'll only make one reduced payment each month

What will happen during a Trust Deed...


A Money advisor will gather the information needed to assess your situation. They will explain your options and help you decide if a Trust Deed is right for you


If a Trust Deed is the right solution for you, we will refer you, if you wish to a qualified insolvency practitioner who can take the Trust Deed forward for you.


Your lenders are sent the Trust Deed proposal. They then decide whether to accept it

Once accepted the Trust Deed is set up as agreed


Once your arrangement is fulfilled (usually 4 years), you will be free from debt

With a Trust Deed, you have the ability to safeguard your home

Answers to common Trust Deed questions

Will I have to cut back on my spending?

You will have to live to a budget for the full term of the Trust Deed – usually four years. During the Trust Deed, you must declare any inheritance, bonuses, overtime or windfalls. You'll be expected to pay some or all of this into your Trust Deed

Will it affect my credit history?

Your credit rating will be affected. Your Trust Deed will appear in the publicly available Register of Insolvencies and will show up on your credit history for six years from the day it starts

Will my home be at risk?

If you're a homeowner, you will be expected to release any equity in your property, and if you do this by remortgage the interest rate you pay is likely to be higher because you are on a Trust Deed. If you can't remortgage, you will need to make further monthly payments instead (but no more than the value of your equity)

What will happen if I fail to make payments?

If your Trust Deed fails, you could be made bankrupt

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Find out if a Trust Deed is the right solution

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If you are interested or would like more information on Trust Deeds, talk through your options with one of our experienced money advisors

0161 413 9583

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