People struggling with unsecured debt in Scotland may consider a Protected Trust Deed to manage what they owe.
A Protected Trust Deed, sometimes referred to as a Trust Deed, is a legally binding debt solution. It allows people to make a fixed payment each month typically lasting four years. Any remaining debts included in the arrangement are written off at the end of the arrangement.
There are important things to note, including the fact that a Protected Trust Deed is a matter of public record and that your credit rating will be negatively affected if you choose this debt solution. However, all pros and cons should be discussed by a debt advisor before you make a decision about whether this solution is right for you.
This hub brings together all of our Protected Trust Deed guides, with topics covering how a Trust Deed works and what happens at the end of the arrangement.
Considering a Trust Deed?
Our advisors will explain the pros and cons of each option, including any risks, costs, and impact on your credit file, so you can choose the solution that’s right for you.
