Trust Deeds
A trust deed is employed in Scotland and is a voluntary but legally binding formal arrangement between a debtor, a trustee and their creditors. A debtor, an individual who often has a very large sum of debt they need to clear, volunteers to transfer their assets to a professional Insolvency Practitioner, known as a trustee. It is then the responsibility of the trustee to administer these assets...
Read MoreHow IVA’s work
Before applying for an IVA, Individual Volunteer Arrangement, you need to be aware that they are only beneficial for beneficial if your total monetary debt equates to more than £15,000, if this is not the case then an alternative form of debt management shall be more appropriate. However, if you are in a situation where your debt totals to over £15,000 then the first step towards procuring an...
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