Differences Between Trust Deeds and IVAs There is often confusion between Scottish trust deeds and Individual Voluntary Agreements (IVAs). Both are legal tools that can be used to help those in debt and share many similarities. However, despite the several shared similarities, a trust deed is not an IVA. The two agreements have some notable…
Scottish trust deeds and employment Debt can be a huge burden, especially when life throws you a curveball. If you’re struggling to keep up with your payments, a Scottish Trust Deed may be the answer to your prayers. This simple debt management system allows you to pay off a manageable amount of your debt each…
Can a trust deed be canceled? How does a trust deed work? A trust deed is a voluntary binding legal agreement between you and all your creditors. It is a legal arrangement that allows you to make reduced affordable payments over a set period of time, after which your unsecured debts are usually written off….
Setting up a scottish trust deed What is a Scottish trust deed? A trust deed is a formal insolvency procedure and legally binding agreement that is available only in Scotland. It offers a great alternative to sequestration (bankruptcy) if you’re struggling with serious debt problems. A trust deed generally lasts 4 years after which, any…
When considering a Trust Deed to manage your debts, it’s essential to understand its duration. A Trust Deed is a formal, legally binding agreement between you and your creditors, which can significantly impact your financial future. Understanding how long a Trust Deed lasts will help you make an informed decision and prepare for life after…
Navigating the world of financial planning can be complex, particularly when it comes to the diverse range of options available to safeguard your assets and plan for the future. One such option that merits consideration is a Trust Deed. This legally binding arrangement between you and your creditors can provide a structured pathway to manage…
A Trust Deed is a legally binding agreement between you and your creditors, used specifically in Scotland to help manage unsecured debts. By entering into a Trust Deed, you agree to make regular payments towards your outstanding debts, and in return, your creditors agree to write off a portion of those debts at the end…
Navigating the financial landscape after settling a Trust Deed can be a daunting task, especially when considering the possibility of obtaining a mortgage. You may have concerns about how creditors and lenders view your application, given your previous experiences with debt recovery. Rest assured, you can still apply for a mortgage after a Trust Deed…
If you’re considering entering into a trust deed in Scotland, it’s essential to understand the terms and conditions of this legally binding agreement between you and your creditors. One question you might have is whether you can pay off a trust deed early. When setting up a trust deed, you agree to make regular payments…