Scotland’s capital city is the second most popular area for people entering a Protected Trust Deed, behind Glasgow. A Trust Deed in Edinburgh helps people living in and around Edinburgh, in regions like Leith, City Centre, Haymarket, Morningside, Portobello and Corstorphine as well as further afield. As a registered debt advice charity, Trust Deed Advice as part of Debt Support Trust can provide debt advice regarding Trust Deeds, debt arrangement schemes and bankruptcy.
If you would like help with a Trust Deed from a Scottish charity, speak to Debt Support Trust today. The charity is registered in Scotland and provides advice to thousands of Scottish people every year, including people requiring an Edinburgh Trust Deed.
Debt Support Trust can be called on 0800 085 0226.
Trust Deed in Edinburgh
There are roughly 7,000 people every year entering Protected Trust Deeds to deal with their debt and money worries. The Scottish Trust Deed solution is popular because as long as you make your regular monthly contributions towards your debt, then by the end of the solution, usually 4 years, you will be debt free.
Most Trust Deeds have some debt write off, with the maximum debt write off in a Trust Deed set to 90% (after fees and charges for the licensed Insolvency Practitioner). There is criteria which must be met for a Trust Deed to be accepted. This mean you must pay what you can reasonably afford towards your debt every month.
For a Trust Deed in Edinburgh to be accepted the creditors must accept the proposal. If one-third in value or a majority in number of the creditors reject your proposal then your Trust Deed will no become protected and cannot proceed. Most Trust Deed’s proceed without any problems but it’s vital you get the right help to ensure your proposal is written correctly and offers the best possible outcome for both your and your creditors.
You can get debt advice and help with your Trust Deed proposal from registered charity Debt Support Trust. You can also get debt advice in Aberdeen, Glasgow and across the whole of Scotland from Debt Support Trust.
Debt Advice Edinburgh
There are a range of debt solutions you may wish to consider in Scotland. Each debt solutions offers something different and to determine which is best you should consider your personal and financial situation. For example, are you working? Is your income solely state benefits? Do you have any assets like a house or car? These are all important questions when searching for debt advice in Edinburgh.
If you are long term unemployed in Edinburgh or have a disability which means you won’t return to work and struggling financially then you could consider bankruptcy. There are two routes you can enter into bankruptcy – the Low Income Low Asset and Certificate of Sequestration. Both options cost £200 to enter and should always be discussed with a qualified debt advisor prior to entering the solution as once the debt plan starts you can’t withdraw.
In Edinburgh or across Scotland you may wish to consider a debt arrangement scheme. This solution allows you to repay all of your debt but over a longer than original agreed time. Your credit rating will be affected in a debt arrangement scheme but you could be debt free in under 4 years.
Always seek professional debt advice from a Scottish debt advice charity. You can speak to Debt Support Trust today on 0800 085 0226.