Why Should I Enter a Scottish Trust Deed?
A Scottish Trust Deed may be an ideal debt solution if:-
- You have unsecured debts of more than £8,000
- You would prefer a Debt Expert dealt with your Creditors
- You have a home and want to protect it from your unsecured creditors.
Advantages of a Scottish Trust Deed
- Repayments are calculated against what you can afford
- You are protected from those you owe money to
- A Trustee will communicate with those you owe money to
- All administration is dealt with by the Trustee
- You can protect your home from unsecured creditors in protected trust deeds.
Disadvantages of a Scottish Trust Deed
- A Scottish Trust Deed will damage your credit rating
- If you do certain types of jobs you may be forbidden from applying for a Trust Deed in Scotland
- Homeowners with equity must realise this or risk losing their home
- Creditors can object to a Protected Trust Deed