Trust Deed
Trust Deed
A Trust Deed is a voluntary agreement between the debtor and the creditors in Scotland. It is an alternative to the bankruptcy and an equivalent to IVA for the Scottish residents. It is also known as Scottish Trust Deed.
A Trust Deed can become protected only if 2/3 or more of your creditors (by value) agree to the terms and conditions. A Protected Trust Deed prevents the creditor from taking any further action against the debtor (like, filing for bankruptcy).
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Your first monthly payment covers our implementation costs. After that, our ongoing administration charge is 15%. This is included in your monthly payments - not added on.
