Trust Deeds | Deed of Trust (Scotland Only)

Trust Deeds - You could be debt free in 3 years

A Trust Deed is a legally binding arrangement drawn up between you and your creditors, available only to residents in Scotland, in which you agree to pay your creditors a percentage of your total debts, depending on what you can afford.

It differs from many other financial solutions in that it is much more flexible and affordable and it also provides protection from your creditors.

It is designed to enable those who cannot afford to repay their debts a way to establish a monthly repayment schedule based on what you can actually afford. The payment is collected each month by your Insolvency Practitioner who in turn deals with any other considerable assets you might have and distributes the money to the creditors on your behalf.

A Trust Deed usually lasts for a period of 3 years, at the end of which any remaining debts are effectively written off leaving you completely DEBT FREE. Remember, a little bit of advice can go a long way. Contact us to see what options are available to YOU. Or have a look at our Frequently Asked Questions below.

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Read our Trust Deed Frequently Asked Questions here...

How does McCambridge Duffy's Trust Deed service work?

McCambridge Duffy offer first class assistance, for patrons living in Scotland experiencing bad debt problems, in the form of a protected trust deed. The concept of the trust deed is a document that is produced outlining the understanding that you can't afford to pay your existing debts and instead enter a legally binding contract or arrangement agreeing to pay off a percentage of your total debts to creditors. With the trust deed, the amount to pay your creditors is derived from the amount you can afford to give and the trust deed is far more cost effective, affordable and flexible than other debt management schemes.

Usually lasting anywhere up to 3 years, the protected trust deed or PTD ensures that after that agreed period, any unsettled debt effectively becomes written off, allowing you to become debt free again. McCambridge Duffy will appoint one of our insolvency practitioners to undertake all proceedings relating to your trust deed and take care of all the relevant dealings with creditors. For further details and more information on the superb debt management solutions offered here at McCambridge Duffy, including arranging a Protected Trust Deed, contact our offices today.