Protected Trust Deed

Protected trust deeds are only available to residents of Scotland that are in financial difficulty with debts over £6,000 and meet specific criteria.

Provided you have maintained all of your trust deed payments, you will be free of all unsecured debts within 4 years.

Trust deeds are voluntary agreements between you and your creditors (the people you owe money to). You agree to repay part of what you owe them. A trust deed will normally include a contribution out of your income for a specified period; this is usually 4 years but can vary.

Each case is individually assessed, much in the same way as with an IVA in England or Wales. As such, you may qualify with £6,000 or more debt from 2 or more creditors.

Will my credit rating be affected?
Yes, by entering into a trust deed, you will no longer be repaying debts at the originally agreed amount, this means your credit rating will be affected for six years.

A record of the trust will be held on your credit file for up to six years following completion.


  • Have a fixed term, usually 4 years.
  • Stop letters and phone calls from your creditors.
  • Prevent you from being made bankrupt / sequestration.


  • You will be tied into the agreement for the full term.
  • Your details will be recorded on the insolvency register.
  • You will not be able to get additional credit of more than £500 without your supervisor’s consent.
  • Homeowners will need to look into releasing equity from their home.
  • Failure to comply with the IVA may lead to bankruptcy.
  • Your credit file may be affected for six years.
  • Certain debts will still be outstanding.