Protected Trust Deed for Scottish clients
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A Trust Deed is a form of insolvency for anyone with unsecured debts over £6,000 and living in Scotland. You make a monthly consolidated payment from as little as £90 per month over a term of generally 4 years. This binding arrangement writes off your unsecured debt remaining at the end of the term and protects your secured assets throughout the term of the arrangement.
e.g. If you have £10,000 of unsecured debt and you can afford to make £100 payment per month to creditors you would make 48 payments of £100 paying £4,800 towards your creditors and the remaining £5,200 will be written off.
Pros
• Protected from creditor contact
• Assets are protected
• Freeze interest and charges
• Pay as little as £90 per month
• Write off overwhelming debt
• Assets like your home and car will be protected
Cons
• Must meet eligibility criteria
• Will affect your credit for 5 years
• Cannot get credit for the duration of your Trust Deed
• Equity in your Home may need to go towards your debts
• Your information will be added to the Insolvency Register
• Failure to comply may result in bankruptcy
Every time you borrow money, you’re
robbing your future self.
Argyll Limited is registered in Scotland. Registered Office: 0/1, 5 Lapwing Drive, Renfrew PA4 8FX, Company Number: SC816086
Argyll Limited does not charge fees for the
information provided. Although we may receive a referral fee. Argyll Limited has no
upfront or arrangement fees.