In general terms, a Trust Deed involves you paying one affordable payment towards your debts for a period of four years. If you have any assets (e.g. a house, or car valued over £3,000), then the Trust Deed would include a provision for these (for example, additional monthly payments at the end of the term).

In terms of good resources, the Accountant in Bankruptcy (Scotland's Insolvency Service), have published this table, which gives information on Trust Deeds, Sequestration and Debt Arrangement Scheme: removed link

There's a contact form you can fill out at the top right of the page.  I used Kevin Mapstone to handle mine and he was very good with a difficult situation I had and managed to resolve it for me.  

Best of luck and I hope you manage to get something sorted.

You can still show evidence of bills, even if they're not in your name, to help justify the level of monthly payment you pass across. This will also support in the creation of an income and expenditure statement, which is a requirement for any debt relief approach really.

Difficult to say whether a Trust Deed is the right choice without other information. Of course, you may already be aware of sequestration and the Debt Arrangement Scheme in Scotland too. If you wanted to reach out to one of our resident Insolvency Practitioners, i'm sure they could give you specific and bespoke advice, to allow you to have a think and decide on the best option for you.

Thanks

Paul

Looking for some advice please. I have tried my best to keep up with my monthly debt payments and now in over my head. My debts are around 30k. I have been looking into the various debt solutions and think a trust deed would be best for me. Without going into too much detail, all the household bills are in my wife's name and I transfer her money each month for my half. I have no issue showing my bank statements to prove this but it will be impossible for me to get access to her bank statements to show proof of household bills. Is this going to be problem to enter a trust deed and if so, can anyone assist with any other solutions I can enter instead?

Kind regards,

Peter.