Scottish Trust Deeds

A Scottish Trust Deed is a formal agreement used to help individuals who are struggling with debt. It allows a person to transfer their assets to a trustee, who manages the distribution of these assets to creditors over a set period, typically four years. In exchange, the individual usually pays a monthly amount they can afford, and their remaining unsecured debts may be written off at the end of the arrangement. This process offers a way to regain financial stability while protecting the individual from legal actions by creditors. It's a legally bound solution under Scots law.