If you’re a Scottish resident struggling under the weight of personal debts, there are a number of solutions available to you to help you get back on your feet. One of the most common debt-help agreements is a trust deed, and its popularity is largely due to the number of advantages that this process brings.
However, as with all debt solutions, there are also a number of drawbacks to a trust deed depending on your individual situation. Before going ahead with any debt remedy process it’s important to recognise the disadvantages which come with it and not be swayed or deterred until understanding the whole picture of what is right for your given circumstances.
You can speak with a specialist debt advisor at Scotland Debt Solutions for more information on the pros and cons of Scottish trust deeds and discover whether this could be a suitable solution to your debt worries. If not, our experienced team can help shed more light on alternative processes, such as sequestration or a DAS, which may be more appropriate.
In the meantime, here are some trust deed disadvantages that you should know about: