What is a trust deed Scotland pros and cons? To know call now: 03338803165
In Scotland, a Trust Deed is a voluntary but legally enforceable agreement between you and your creditors in which you agree to repay a reasonable portion of your debt while maintaining your home outright. This debt repayment plan gives you a certain amount of time to pay off your debt, usually four years. Trust Deed Scotland can only be arranged and administered by a licensed Insolvency Practitioner (IP) who will act as the 'Principal. What are the Pros & Cons of Trust Deed? A Trust Deed is a formal debt solution available in Trust deed Scotland pros and cons that allows you to pay off your debts with a manageable monthly payment plan, with the remaining balance written off at the conclusion of the payback period. It normally lasts four years, but depending on your circumstances, a longer duration may be considered. Your monthly contribution will be paid to your creditors by a Trustee acting on your behalf. Trust Deeds, like all debt management solutions, hav...