The power of a Scottish Trust Deed to solve your debt problems


Scottish Trust Deed

If your debts have become overwhelming and the likelihood is that you will be unable to repay then in a reasonable timescale then you should consider a Trust Deed as a possible solution to your difficulties. There is now a range of debt solutions on the market and the key is to select the one that is most appropriate to your own individual circumstances and will be most effective in resolving your debt problems.

What is a Scottish Trust Deed?

A Scottish Trust Deed is a formal and legally backed method of sorting debt problems where they have got to the point where it is genuinely unlikely that you can repay them. A legal framework has been put in place to provide people with serious debt problems with a structured route out of their problems.

In practice this consists of agreeing a payment schedule with your creditors that consists of a single monthly payment that you can afford which usually lasts for three years. As long as you keep to terms of the agreement and keep up your payments for the three year period the rest of your unsecured debts are written off at the end of this time.

It is important to go through the process of making the Trust Deed protected as this makes it a legal binding agreement that your creditors must then abide by.

What are the benefits?

The main benefit is that a Trust Deed provides a recognised and legal route to resolving your debt problems and enabling you to be debt free at the end of the process.

Another key benefit is that if you are a homeowner then you can usually keep your home although you may have to release some equity to do so.

A Protected Trust Deed also puts an end to the demands and pressures from creditors and prevents them from taking legal action against you.

Get professional debt advice

Selecting the best debt solution is an extremely important matter and it’s crucial that you get it right as you may have to live with it for many years.

It is always advisable to seek professional debt advice to ensure you have all the facts to hand to make the best decision and to receive professional guidance through the process if required.

There is no need to feel awkward or embarrassed about seeking advice and discussing your problems. Professional debt advisors are used to dealing with problems just like yours every day and the advice they provide is private and confidential.

What to do next

Take action now. Debt problems tend to get worse the longer they are left and they certainly don’t go away on their own. Take a look at the website of E-P Debt where you will find a wealth of information on debt, debt problems and debt solutions. They are committed to providing the very best debt advice available and their advice is free and totally confidential.

By E-P Debt

Debt advice in Glasgow: where, how and why


Debt advice in GlasgowDebt problems can hit at any time and a simple change in personal circumstances can quickly create a debt problem that needs resolving. This can include being hit with a large unexpected expense, losing your job or just discovering that you have taken on too much debt and are struggling to cope.

All debt problems are different

Every debt problem is different and can range from a small temporary problem that just needs pointing in the right direction or it can be a significant problem that needs a more formal solution.

The key to solving any debt problem is to take action and seek professional debt advice to ensure you have all the information available to you to make the best decision on the most effective option for your own particular circumstances.

Free expert debt advice

For free expert debt advice in Glasgow contact E-P Debt whose experienced debt advisors have been providing proven debt solutions for years. There is a wide range of debt solutions available to solve any debt problem you may have. The important aspect to this is to ensure the solution is tailored to your own particular circumstances.

Contact is easy and designed to suit you

You can simply call E-P Debt on 0141 353 9371 to speak directly with an experienced advisor. If you prefer, you can request a callback through the E-P Debt website at and one of the debt advisors will call you at a time that suits you. The other method of contact is by email through the website where you can request additional information and correspond to the degree that suits you.

With E-P Debt all contact is totally confidential and you don’t even have to give your full details if that suits you better. The whole ethos at E-P Debt is first of all to help you resolve your debt problem.

Why contact E-P Debt

You can speak directly to experienced and expert advisors who are dedicated to solving your debt problem. Debt advice is free and you will find all advisors are understanding and will listen to your circumstances in detail in order to provide the most effective advice.

The real difference in dealing with E-P Debt is that we are on your side. We look at the problem from your point of view and our objective is to find the very best solution for you and to help you sort the problem and move towards improving your financial circumstances and onto a better future.

Take action now

Take the first step today to resolving your debt problems and make contact today. You are under no obligation at any time and you will not experience any pressure to make a decision on resolving your problems. What you will get is independent and objective advice and the best options available to resolve your financial difficulties and moving out of debt.

If your circumstances require a formal debt solution then E-P Debt will ensure you are advised of both the advantages and disadvantages of each option as well as the alternatives available.

By E-P Debt

Can I write off my debt?



The simple answer is yes. The more considered answer is that it depends on your circumstances. Contrary to what most people think, it is not just about the size of your debt, albeit there are certain thresholds of debt in order to qualify for particular debt solutions. There are a number of things to be considered in order to select the most appropriate debt solution and thus determine how much debt you can write off.

Assessing your problem

The first thing to be done is to assess the extent of your debt problems and work out how much you owe and to who. In conjunction with this it is important to work out your income and in particular what is left from your income after normal living expenses such as food and rent etc.

You must also qualify for particular debt solutions and this must be considered to find out what your options will be. In addition to this you must also take into account your personal circumstances in terms of the effects particular debt solutions may have on important aspects such as your job, and your home if you are a home owner.

Seek professional debt advice

We always recommend that you seek professional debt advice to ensure you have the latest information available and can be advised by professional advisors who will provide independent and objective advice. E-P Debt offers free and confidential debt help across Scotland.

Debt solutions to consider

We would normally list the debt solutions in order of ascendancy based on considering the least serious options first. However as this article has led on writing off debt we have listed the options by the highest amount of debt that can potentially be written off.


Bankruptcy should always be seen as the last alternative debt solution. It is a formal legal solution for people who are unable to repay their debts in a reasonable time period. It enables individuals with serious debt problems to agree an affordable monthly payment, usually for up to three years and to be able to write off their unaffordable debt. People are normally discharged from bankruptcy after a year.

Trust Deed

A trust deed is a Scottish debt solution used as an alternative to bankruptcy which has the benefit to home owners of being able to keep their home, albeit they usually have to release equity in it to do so. A trust deed is a formal agreement with your creditors to make an affordable single monthly payment for three years after which the balance of your unsecured debts are written off.

Debt Arrangement Scheme (DAS)

The debt arrangement scheme is a Scottish Government backed scheme that helps people who are struggling with debt to make an agreement with their creditors to reduce their monthly payments by repaying over a longer period of time. This type of arrangement does not reduce your debt or allow you to write off any of your debt.

This format also applies to other debt solutions such as debt management plans and debt consolidation loans which can help people to manage their debts but can end up meaning you pay more in the long run and there is no option to write off any debt.

By E-P Debt

Scottish bankruptcy as a debt solution: get the facts


bankruptcyBankruptcy in Scotland is different from elsewhere in the UK and even has its own name: sequestration. So sequestration and Scottish bankruptcy are exactly the same thing. Before you make any decisions on your financial future get the facts first and then consider them in conjunction with your own personal circumstances. In addition to this we always advise that you seek independent debt advice to ensure you select the very best debt solution for your own particular circumstances.

What is bankruptcy?

Bankruptcy is a formal and legal method of solving a serious debt problem when your debts are at a level where you are unlikely to be able to repay them in a reasonable period of time. It enables you to agree an affordable single monthly payment to your creditors and write off your unaffordable debt.

How does it work?

The Accountant in Bankruptcy (AIB) administers the bankruptcy procedure on behalf of the Scottish Government. Bankruptcy can be applied for by an individual directly to the AIB or through a licensed insolvency practitioner who will advise on and administer the process for you.

How do you qualify for bankruptcy?

  • In order to qualify for bankruptcy you must meet the following conditions:
  • Your total debts must be at least £1500 and
  • You cannot have been through the bankruptcy procedure in the last 5 years and
  • You are required to pay a fee of £200 and
  • You must satisfy at least one of the following:

One of your creditors agrees to you applying for bankruptcy
You meet the requirement of being ‘apparently insolvent’ which is a legal term that shows you can’t afford to pay your debts.

What are the requirements and consequences?

You agree to make a single monthly payment that you can afford to your creditors for up to three years
Your unaffordable debt is written off

  • You are normally discharged from bankruptcy after a year
  • At the end of the process you are debt free
  • You must hand over your assets to your trustee who will use them to pay the fees and pay your creditors
  • You are allowed to keep essential items such as clothes and furniture etc.
  • Your credit rating will be affected and the bankruptcy will show on your credit report for six years
  • All bankruptcies are recorded on the register of insolvencies

Best advice

Bankruptcy is a last resort solution for debt problems and you should always seek professional debt advice to assess what options and alternatives are available to you. E-P Debt provide expert advice on bankruptcy and any alternatives to be considered. All advice is free and totally confidential.

By E-P Debt

The Scottish Trust Deed: Designed to solve your debt problems


Scottish trust deedA Scottish Trust Deed is not something that many people are familiar with but for people with serious debt problems it is a very effective debt solution that can help them out of debt and enable them to get their lives back to a sense of normality from the associated stress and worry that often accompanies debt problems.

In this article we explain what a Scottish Trust Deed is, the importance of ensuring it is protected and the benefits it offers as a debt solution.

What is a trust deed?

A Scottish Trust Deed is an arrangement between an individual and his or her creditors that enables a borrower with unaffordable debts to repay what they can afford for an agreed period of time and then write off the balance of the debt they can’t afford.

In practice this generally means agreeing an affordable monthly payment for three years after which the rest of the outstanding debts are written off.

Why should a trust deed be protected?

By ensuring the trust deed is legally protected this means that all creditors are then legally bound by the trust deed and must abide by its terms. Most importantly it means your creditors can no longer pursue you for payment or take legal action as long as you continue to make the single affordable payment you have agreed to.

Protecting a trust deed is done by informing your creditors of your intention to have it protected and as long as either half of your creditors don’t formally object or creditors who make up one third of your total debt don’t object then the trust deed can becomes protected.

The benefits of a protected trust deed

As with all debt solutions there are advantages and disadvantages and these must be considered in relation to your own personal circumstances


  • You only need to pay what you can reasonably afford
  • Your unaffordable debt is written off
  • You’ll be debt free in three years
  • Your creditors can’t take legal action against you
  • Your home and car can be protected in most cases

The downsides:

  • If you own your own home you’ll probably have to release equity
  • Your credit rating will be affected
  • You can’t take out credit during the trust deed

Seek professional debt advice before making a decision

Entering into a trust deed is a serious decision and you should always get professional debt advice before doing so to ensure you consider all the alternatives and options available to you. E-P Debt provide free debt advice on Trust Deeds and a wide variety of debt problems.

By E-P Debt

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