A Trust Deed is the Scottish equivalent of the IVA. It is an agreement between you and your creditors. You offer to pay back as much money as you can over a fixed period, normally three years. At the end all outstanding debt is written off. As soon as the Trust Deed is agreed, all interest is frozen and the creditors cannot contact you again by law. Your point of contact then becomes an Insolvency Practitioner who is the link between you and your creditors. The Insolvency Practitioner will work out how much you can afford to pay each month, and this figure may be adjusted if your circumstances change. Debt Made Simple can provide an excellent Debt Expert and Insolvency Practitioner to set up a Trust Deed for you. There is little or no charge for this service. The Trust Deed can be a great solution. You get to avoid bankruptcy while still writing off a significant amount of your debt. Best of all, you have light at the end of the tunnel. However, it does have some disadvantages.

> How does the Trust Deed process work?

If you're interested in the Trust Deed you should read about our Trust Deed service and contact us so that we can see if you qualify. If you do, your Debt Expert can draft your initial Trust Deed proposal with you over the phone. Then the Insolvency Practitioner will finalize it with you. After that it is sent to the creditors and they are given five weeks to respond. If they do not respond, the Trust Deed is automatically put in place.

> Ready to apply?

Take the next step and contact us.