Scottish Trust Deed

A Scottish Trust Deed is a legal agreement designed for individuals in Scotland facing unmanageable debt. It allows a debtor to transfer their assets to a trustee, who then uses those assets to pay creditors. In return, the debtor is protected from legal actions by creditors and can often achieve a partial debt write-off. The agreement typically lasts for four years, after which any remaining unsecured debt is wiped clean. It offers an alternative to bankruptcy, helping individuals regain financial stability while ensuring fair treatment of their creditors.