Trust deed
Legal & insolvencyA formal debt solution used in Scotland to repay part of what you owe.
Overview
Trust deeds are legally binding and arranged with an insolvency practitioner.
They are recorded on your credit file.
Why it matters
- It affects credit access for years.
- It can provide a structured way out of debt.
- Eligibility is specific to Scotland.
FAQs
Is a trust deed the same as an IVA?
They are similar, but trust deeds are specific to Scotland.
Does a trust deed affect my credit score?
Yes. It is a major negative entry on your report.
Related terms
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