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Trust Deeds

A Scottish Trust Deed can help clear your unsecured debts

Introducing Trust Deeds

A Trust Deed in Scotland is a voluntary agreement between a debtor and his or her creditors. The Trust Deed acts as formal agreement between a debtor and there creditors whereas the debtor agrees to pay one lower, affordable monthly payment over a fixed period (usually four years). Once agreed, creditors cannot add any interest and charges to the debtor’s total debt. The Trust Deed once protected will ring fence the debtor from creditor demands, harassment, and will freeze all accruing interest on the debts.

A Trustee is appointed to deal with your unsecured debts for the period that your Trust Deed lasts for, the debtor and creditors enter the agreement and are both tied by the terms of the agreement. The debtor must also agree to regular reviews and make the agreed monthly payments into the plan. On completion of the Trust Deed any unpaid remaining unsecured debt is then written off entirely.

Do you qualify for a Scottish Trust Deed?

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Write off all the Unsecured Debts you can’t afford

Debt free typically in 48 months

Your interest frozen


Here are some of the key advantages to using a Scottish Trust Deed.

Your Creditors at bay


We deal with your creditors directly so you no longer have to liaise with them.

One Monthly Payment


Drastically cut your monthly outgoings by making just one payment per month from your disposable (surplus) income.

Stop the Action


With a Protected Trust Deed, your creditors cannot take further action against you, arrest your earnings or continue to charge interest.



Most positions of employment and future prospects are unaffected by signing a trust deed, but you must check your terms of employment contract or speak to your employer before signing a trust deed.


Unsecured only


Only unsecured debts can be included in a Trust Deed. Secured debts cannot be included in a Trust Deed and you will have to continue paying your current secured creditor(s) or arrange a new payment arrangement with them yourself.

Careful consideration


The arrangement is binding on you and your creditors. If you were to default on the arrangement then your trustee (the Licensed Insolvency Practitioner) can petition for your sequestration or bankruptcy. Also, if you fail to adhere to the terms of the Trust Deed, your home and other assets may be at risk. Our staff will fully explain the implications of the Trust Deed to you to ensure that the proposal is affordable, achievable and suitable to your personal circumstances.

Not a done deal


Your creditors are not obliged to accept a proposal for a trust deed. Your trustee will negotiate on your behalf to agree an arrangement with all your unsecured creditors. If creditors that you owe more than one third of your total debt object to the proposal then your Trust Deed will not become protected.

Full disclosure


Any existing wage arrestment orders or other diligence may continue to be effective. It is therefore important to fully disclose any actions that may already have been taken against you in order that the appropriate arrangements can be made for these to be released, if possible. At worst, the effects of these procedures need to be taken into account when framing the proposal for the trust deed.

Essential Reading

AIB Debt Advice & Information PackageAIB Trust Deed Guide