Trust Deed - Protected by the Scottish Government

It’s true. The trust deed is a formal arrangement with your creditors that frees you up to trim your monthly repayment to a level that you can comfortably afford. Not only that, the way a trust deed works is such that the overall debt is reduced too. Can you afford to ignore this opportunity?

Contact us now it takes just 5 minutes to see how a Trust Deed could help you.

Trust Deeds
Watch this quick introduction

About Trust Deeds

We know that when considering the right choice in a debt solution, it is important for you to be aware of all of the factors involved. During your initial consultation over the phone with our advisors and the documentation you will receive in writing, any fees and further considerations will be disclosed fully. This document will outline the key points of a Protected Trust Deed (Protected Trust Deed), providing an overview of the advantages and disadvantages.

At Smooth Financial we hold the highest standards of client experience, this includes dealing directly with the clients, and on their behalf with the creditors. Due to this core value and regular investment into the training and daily high standards of service delivery to our clients, we have to charge for our services

A Clients Experience

A recent Scottish client was juggling with 7 individual debts that added up to a total of approximately £46,000. Paying these off each month it must have been like climbing a Munro backwards with bare feet because each month he had to pay a punishing £1,380.

Dealing with a debt of this size wasn’t a problem for the people at Smooth. Just imagine how you would feel if this was your situation and the unsecured debt was reduced by 70.27% and your monthly repayments dropped to just £380. Wouldn’t you be delighted? Our Scottish client found it sheer bliss.

*This is an example and is subject to personal circumstances

Pros

• Normally only lasts 3 years
• Up to 90% of your debt could be written off after either 3 or 5 years
• Interest charges are frozen so you are paying off the debt rather than the interest
• You only have to make a single payment each month.
• As long as you keep up your newly arranged payments your creditors will be satisfied and no longer pursue you
• A Trust Deed is a formal agreement with your creditors and should not be entered into lightly as future non-payments may lead to bankruptcy
• Your credit file will show the fact that you have a Trust Deed for up to 6 years.

Cons

• If your creditors do not include your property and any assets on the Protected Trust Deed, then they may be at risk.
• A Protected Trust Deed may affect your credit rating and normally stays on your credit history for one year after your Protected Trust Deed ends.
• If you fail to meet your obligations under the PTD resulting in it failing, you are likely to be sequestrated (made bankrupt).

For more information regarding Trust Deeds please click here.

Click here to read a debtor guide.

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