News

Can an IFA enter a protected trust deed in Scotland?

One question which the trust-deed.local/ advice team come across from time-to-time is whether a financial advisor or independent financial advisor (IFA) or a mortgage broker can enter into a trust deed in Scotland to deal with their debts. In this article we will discuss the steps that a financial advisor or IFA must take to […]

Can a Trust Deed Be Re-Opened To Capture PPI Claims?

Claiming Back PPI after Scottish Trust Deeds Many people seek to recover PPI after being discharged from their trust deed. Our 2014 article on the recovery of mis-sold payment protection insurance article explained that: The above remains true, but last year we began to hear from a steady trickle of people that their ex-trustees were […]

Can a solicitor enter a Scottish trust deed?

Our Trust deed.co.uk advisers have taken phone calls on our trust deed advice line from solicitors who have become unable to repay their debts. Like thousands of others, some solicitors have been hit by the economic downturn which can easily lead to a build-up of debt and increasing struggles to service it. In this article […]

Guarantor Loans & Scottish Trust Deeds

What Is A Guarantor Loan? Dealing with debt can be tricky if you have a guarantor loan. We explain the options (and risks) for you and your guarantor. These loans are available if your credit rating isn’t perfect. They generally come with a high rate of interest. The loans can be large. These factors combined […]

Bounce Back Loan Debt and Arrears

Is There a Problem Yet? A borrower’s Bounce Back Loan repayments don’t start for a year, so repayment problems with these loans aren’t an issue yet. There is an issue today for sole traders in Scotland who have taken a Bounce Back Loan in addition to large pre-existing debts. Other self-employed workers have continued to […]

Benefit System Changes And Debt Solution Access

Benefits are linked to inflation, protecting recipients from the worst effects of rising prices. By design however, most benefits exist to cover only essential bills and expenditure. They’re not intended to cover additional debt repayments, which can make life very difficult for those on very restricted incomes with credit commitments. What options are open to […]

Bank Accounts for Trust Deeds

Can I Keep A Bank Account During A Trust Deed? You can still use a bank account during a protected trust deed but you might need to switch to a new bank before it starts. Your new account should be a “basic bank account” which may not sound very appealing. The good news is that […]

Can You Enter A Protected Trust Deed For The Second Time?

There is no restriction against using a trust deed (Scotland) on more than one occasion. If you have completed a Scottish trust deed in the past, you have the right to enter another one in the future. This is different to bankruptcy in Scotland. If you have already been bankrupt within the past five years, […]

A Trust Deed Working For A Bank

If you’re a bank worker, and you’re struggling to pay your debts, you might be considering starting a trust deed. In this article we review some common concerns about trust deeds for people who work in the banking sector. Working for a bank (or another type of financial institution) does not in itself prevent you […]