Overdraft debt in Scotland gets included in protected trust deeds.
You don’t have the option to leave a small overdraft out of your creditor list. All qualifying debts that exist on the date you sign a trust deed must be included.
In practical terms, this makes it likely you’ll need to open a new bank account before going ahead with a debt solution such as a trust deed.
The amount you owe on the date you sign your trust deed gets included in the arrangement. This also applies if your overdraft was already passed over to a debt collection or debt purchasing firm.
An overdraft facility isn’t included if it wasn’t being used on the date of signing. Only the money actually owed to the bank on the date of signing gets included.
If your overdraft debt increases after you sign your trust deed, the extra amount owed is not included. You will remain liable for repaying any new debt incurred after signing your trust deed.