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Debt Centres - Nationwide Support



Scottish Legislation could reduce your debts by up to 90%
If you are a Scottish resident and struggling with debt repayment, a Trust Deed could be the right solution for you

A Trust Deed enables you to repay only as much of your unsecured debts as you can afford. A new single affordable monthly payment will replace all of your current monthly repayments. A Trust Deed usually last for 48 month, during this time you'll be protected against action from your lenders and any debts remaining at the end of four years are effectively written off by your creditors.

A Trust Deed is a formal agreement between you, your creditors and a licensed Insolvency Practitioner (referred to as the Trustee).

A Trust Deed is unlikely to result in the forced sale of your home, so it could be your best option if you're a homeowner.

  • You could be debt free in 48 months
  • Legislated Debt Solution
  • Freeze interest and charges /li>
  • Once protected your creditors are unable to contact you
  • Avoid Sequestration

Speak to one of our expert advisers today to discuss whether a Trust Deed is the best option for your circumstances.

Disadvantages to a Trust Deed?
  • Credit Rating Effected
  • A Trust Deed will be recorded on your credit file for six years after the completion.

  • Threat of Bankruptcy/Sequestration If Not Adhered To
  • A Trust Deed is a legally binding arrangement, which if not adhered to will most likely result in Sequestration.

  • Limited Company Directors May Be Affected
  • A director of a Limited company would not be allowed to continue in their role and enter into a Trust Deed. Instead, they would be required to resign as a director before they could make their application.

  • Creditors Must Accept The Agreement
  • The creditors must vote on accepting the arrangement. If over a third of your creditors decline, this could prevent the Trust Deed arrangement from being accepted.

  • Your name will be included on the Insolvency Register
  • Once accepted, it will be recorded on the Register of Insolvencies, which is a public record.

Speak to one of our expert advisers today to discuss whether a Trust Deed is the best option for your circumstances.

 

About Debt Centres

We're here to help, we will introduce you to one of our authorised debt solutions partners. A quick, informal chat to a fully trained UK based debt specialist will enable them to find the right help and information for you and help you to become debt free.

  • Nationwide coverage from UK based debt specialists.
  • Reduce your debt by up to 70% with UK Legislation*
  • There is help available you even if you have low income, previous bad credit or CCJs
 
Trust Deed Example
Here's an example of how a Trust Deed can make your debt affordable
How your finances may look...
Unsecured Loan:
£7,000
Credit Card:
£5,000
Store Card:
£2,000
Total Owed:
£14,000
With an Trust Deed...
48 monthly
payments:
£73
Total debt
paid back:
£3,504
Debt written
off:
£75%
Get Confidential, Expert Debt Help Today
Simply complete the enquiry form and a helpful UK based debt expert will call you back and explain how they can help.
 
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Debt Solutions
There are many debt help options available if you are struggling with debt. To learn more about each option click on the buttons below.
  • Debt Management

    A debt management plan is designed to help people who are struggling with their debts. If you owe at least £1,000 of unsecured debt and can afford to pay at least £80 per month or £20 a week then this could be an option for you.



  • IVA

    If you owe more than £5,000 and can afford at least £80 per month or £20 per week an IVA might be an option for you. An (IVA) is a Government Scheme to help those with unaffordable debts. An IVA lets you repay all your debts in a single monthly payment at a rate you can really afford.

  • Bankruptcy

    Bankruptcy is when you admit legally that you can't pay off what you owe to your creditors. You can do this as either a private individual or a business. You can also have bankruptcy imposed upon you, usually by creditors who are trying to recover money that you owe them.


  • Trust Deed

    A Trust Deed is help for those with unmanageable debt, exclusively for Scottish residents. It enables you to repay as much of your unsecured debt as you can within an agreed timeframe (usually 4 years). On completion, any remaining unsecured debt will be legally written off.

Fees & Key information

These debt solutions are designed to help you find the most affordable way out of debt. Fees maybe payable dependent on the solution recommend to you. By law Debt Solutions Companies must be clear about any fees payable. Click here for more details on Fees and Key Information

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Case Studies
  • Mr. D from Salisbury

    case study 1 Mr. D from Salisbury was paying £250 per month towards two Barclaycards with combined balances of over £6k. He was paying £250 per month of which £180 was an interest charge. Mr. D has been paying £99 per month into his debt management plan since August 2012. £25.50 is retained each month as an administration fee and interest and charges are frozen across all of his debts.
  • Mrs. S from Oldbury

    case study 2 Mrs. S from Oldbury was paying £475 per month towards £17,500 of unsecured debt to multiple creditors, including high interest charging payday loans. She has been paying £120 per month into her debt management plan since July 2012. £35.50 is retained each month as an administration fee and interest and charges are frozen across all of her debts.
  • Mr. H from Harrogate

    case study 3 Mr. H from Harrogate was paying £580 per month towards over £24,000 of unsecured credit, including three high interest charging credit cards. Mr. H has been paying £202 per month into his debt management plan since August 2009. £41.02 is retained each month as an administration fee and interest and charges are frozen across all of his debts.