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Trust Deed


Trust Deeds are only available to resident of Scotland, and are the Scottish equivalent to an IVA (Individual Voluntary Arrangement).

A Trust Deed is a formal arrangement between a debtor and their creditors. And is regulated by  "The Bankruptcy (Scotland) Act 1995"

To qualify for a Trust Deed, the total debt must exceed £2,000 and must be owed to at least two different creditors.

Trust Deeds are administered by a trustee who negotiates with the creditors to reduce the total amount to be repaid and to agree a payment schedule that is affordable by the debtor.

A Trust Deedwill last for a maximum of 3 years. Some Trust Deeds may last for less than 3 years depending on individual financial circumstances.

A Trust Deed is an alternative Sequestration.

A Trust deed can help avoid sequestration (Sequestration is the Scottish name for bankruptcy).
Unlike Sequestration if a Trust Deed is arranged the person is still allowed to hold public office, also the person's details are not published for the public to see.