Trust Deed


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What Is A Trust Deed?

This was set up by the Government to help people in Scotland struggling with financial difficulties. If you qualify for a Trust Deed, we will refer you to a qualified Insolvency Practitioner who acts as the Trustee.

Protected Trust Deeds are legally binding contracts between both you and your creditors. As long as you keep up with the agreed payments, you will become debt free at the end of the arrangement, which is usually no more than 48 months. It will also prevent any further action being taken against you.



  • You must be a Scottish resident for a minimum of 6 months before applying for a Trust Deed.
  • Minimum debt level of £5,000.
  • Trust deed cannot be joint.
  • Minimum monthly payment of £100.
  • Assets cannot be higher than debt level.
  • Depending on your job role/title there may be restrictions from your employer that will not allow you to apply for a trust deed.
  • The voting house WATCH/TIX would not accept a trust deed if the client is a homeowner, unless the debt outweighs the equity or the client is over 64 years old.


  • All interest and charges are frozen at the point the Trust Deed is signed.
  • Once approved, creditors are unable to take further action against you.
  • At the end of your agreement, any debts not repaid will be written off.
  • The Insolvency company will deal with all creditor correspondence.
  • If you are a homeowner you may be able to retain your property if there is no or little equity available.
  • The trust deed usually only lasts 48 months but ultimately this is down to the discretion of the Trustee.
  • You are allowed to keep your car as long as it is worth less than £3,000 and is essential.


  • The rights to your assets are transferred to the Trustee, including your property.
  • You may be required to release equity from your property if it is available.
  • The creditors can object to the trust deed becoming protected.
  • The trust deed will adversely affect your credit rating for 6 years.
  • You cannot take out any credit whilst on the trust deed without consulting your Trustee first.
  • If you fail to abide by the terms of the trust deed it is likely you will be forced into a sequestration.
  • The trust deed may be extended for 12 months if you are a homeowner.
  • Your details will be added to the Register of Insolvencies.

You can call one of our advisers on 0800 97 88 495 or email to find out if you qualify for a Trust Deed.

Please note: Debt Support Service does not administer Trust Deeds.