Business Finance News From Brookelyn

As seen on STV, Trust Deed Scotland is a leading introducer of Protected Trust Deeds and provides ethical Scottish debt advice, including the debt arrangement scheme.

The recession has taken its toll worldwide and it is perhaps inevitable that Scotland and its residents also suffer the same fate. With rising cost of living, energy costs and the uncertainty caused by worldwide austerity measures – many more ordinary Scottish families are now experiencing financial difficulties.

In England, Wales and Northern Ireland there is a solution to debt known as an IVA, however in Scotland, there is an equivalent and it is known as the Protected Trust Deed.

For people who live in Northern Ireland, Wales and England there is a debt management programme which is the most common form of debt management however, it pales in significance when compared to the debt arrangement scheme.

Why so?

The debt arrangement scheme in Scotland offers something that a rest of UK DMP cannot. Legal protection from your creditors. Once approved and setup, your interest and charges are frozen and the lenders can no longer pile on extra interest and charges provided that you keep up the terms of repayment.

Should you complete your payments on time (which are calculated using your affordability) then you will have a committed period to repay your debt and get your life back on track.

The Protected Trust Deed allows you to write off part of your debt and become debt free in a typical period of 36 months. As a form of personal insolvency, it will have a more lasting effect on your credit rating and if you own your property – your equity may be problematic, either way a call to an experienced money advisor should help you to discover the facts, pros and con.

In conclusion, Trust Deed Scotland – a leading provider of ethical debt advice offer real solutions for real people. If you would like to learn more, call 0141 221 0999.

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