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Trust Deeds

Trust Deeds are legally binding arrangements in Scotland, where you make reduced payments for a period of 4 years. If you live in England, Wales, or Northern Ireland, you may be eligible for an IVA. Complete the form to see if you are eligible.

Customers can get free debt counselling, debt adjusting and providing of credit information services from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. For more information from the Money Advice Service click here
You can find. Government guidance on dealing with your creditors here.

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Trust Deeds

A Protected Trust Deed is a legal arrangement between you and your creditors, which gives you protection from creditors taking action against you to recover debts. (This is only available to Scottish Residents)

Once a Trust Deed has been established and is protected, creditors cannot add contractual interest or charges to any of your outstanding debt.

When putting a Trust Deed in place certain, restrictions to your expenditure may be applied.

This means that at the end of the 4 year arrangement if you have made all your payments then any remaining debt on your account is written off allowing you to start fresh.

Please be aware that lenders are not obliged to accept less than contractual, payments or to freeze interest and charges. This may result in an increase in the total, amount repayable and may affect your credit rating.

Pros & Cons for a Protected Trust Deed


  • Payments are based on your circumstances and what you can reasonably afford to pay.
  • Your Trustee will contact your creditors, which will remove the pressure of unwanted phone-calls and letters.
  • Once the Trust Deed has become “Protected” creditors cannot take legal action to recover their debts and are bound by the terms of the Trust Deed.
  • At the end of the trust deed, the balance of debts included in the trust deed will be written off.
  • Creditors cannot take any further action against you once the trust deed has been protected


  • If you are a homeowner you may be able to extend your monthly contributions to the Trust Deed if you are unable to re-mortgage.
  • Creditors can vote against a Trust Deed becoming “Protected”.
  • Signing a trust deed may affect certain types of employment.
  • You may find it difficult to obtain credit in the future. Credit reference agencies will assess the level of risk based your on financial history which may include the Trust Deed.
  • Your details will be entered onto a public register.
  • There are costs associated with a PTD, a fixed fee, a realisation fee and out of pocket costs such as insurance and postage. The costs are deducted from the payments you make.

A Trust Deed is only available to residents living in Scotland. If you’re currently living England, Wales and Northern Ireland you may be eligible for a IVA.

Trust Deeds Help & Advice?

If you want to write off debts and stop action from creditors a Trust Deed may be the option for you.

A Trust Deed is only available to residents living in Scotland. If you’re currently living England, Wales and Northern Ireland you may be eligible for an IVA.

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