How do I… apply for a Trust Deed?

Written by Payplan Ryan on 13 July 2012

For people living in Scotland they have other debt solutions available to them to help when they are in financial difficulty. A Trust Deed is one of these solutions and allows you to pay your creditors back at an affordable rate.

A Trust Deed is a formal agreement, and providing it becomes ‘protected’ it will provide you with the security, as your creditors cannot take any further action against you or force Sequestration upon you. A Trust Deed will usually last between 3 and 5 years and any included debt remaining will be written off, leaving you debt free.

Starting the process to becoming debt free can be daunting, we have therefore put a brief guide together that should hopefully provide some guidance to anyone starting the process.

The first thing that you need to do it to do your research and find a recommended company…

Contact your local Citizens Advice Bureau or contact National Debtline who will be able to provide you with a list of recommended companies.
Speak to friends, family or your employer as they might be able to recommend a company for you to go to from their own experiences.
Visit forum or review sites to see what other people have done in your situation and find out about their experiences with different companies.

Once you have found a company that you are comfortable with you will need to gather the following information together in preparation…

A list of all of your creditors, including account numbers and amounts that you owe.
A list of your income and expenditure, as this will help to determine what surplus you have available to pay your creditors.
Gather information about your assets such as your car, home (including your outstanding mortgage balances and value) and savings.

This should help you in preparing to start your journey to becoming debt free through a Trust Deed.

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This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.

10 thoughts on “How do I… apply for a Trust Deed?”

majadul

July 19, 2012 at 12:06 pm

I think this is most helpful for searching trust Deeds

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Kenneth Jenkins

November 29, 2013 at 6:35 am

Trust Deed call back

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- Samuel
  
  November 29, 2013 at 10:24 am
  
  Hi Kenneth,
  
  Thank you for your query and request for assistance.
  The first thing to do is contact us on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) OR fill in our online form: https://www.payplan.com/debt-help/ and we will call you back.
  
  Our offices are open Monday – Friday 8am – 9pm and Saturdays 9am – 3pm. The advice is FREE and the calls are FREE too!
  
  I’ve e-mailed you with the above information for your reference too.
  We look forward to hearing from you and providing advice and help in the future.
  
  Kind regards,
  
  Samuel
  
  Reply Report comment
Lawrence Heggarty

November 29, 2013 at 6:35 am

Trust Deed call back

Reply Report comment
- Samuel
  
  November 29, 2013 at 10:24 am
  
  Hi Lawrence,
  
  Thank you for your query and request for assistance.
  The first thing to do is contact us on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) OR fill in our online form: https://www.payplan.com/debt-help/ and we will call you back.
  
  Our offices are open Monday – Friday 8am – 9pm and Saturdays 9am – 3pm. The advice is FREE and the calls are FREE too!
  
  I’ve e-mailed you with the above information for your reference too.
  We look forward to hearing from you and providing advice and help in the future.
  
  Kind regards,
  
  Samuel
  
  Reply Report comment
Raymond Young

January 27, 2014 at 7:27 am

Trust Deed call back

Reply Report comment
- Samuel
  
  January 27, 2014 at 9:21 am
  
  Hi Raymond,
  
  Thank you for your request for assistance.
  The first thing to do is contact us on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) OR fill in our online form: http://www.payplan.com/debt-help and we will call you back.
  
  Our offices are open 24 hours a day. The advice is FREE and the calls are FREE too!
  
  I’ve e-mailed you with the above information for your reference too.
  We look forward to hearing from you and providing advice and help in the future.
  
  Kind regards,
  
  Samuel
  
  Reply Report comment
Lawrence Heggarty

January 28, 2014 at 11:09 am

THANKS

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Alan Thompson

February 25, 2014 at 12:02 pm

thanks

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John Millward

February 26, 2014 at 7:57 am

thanksw

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