What is required to check you are eligible for a Scottish Protected Trust Deed?

Thinking about looking into a Scottish Protected Trust Deed? This may help you with your queries.

Are you struggling with unsecured debt that is £5,000 pounds or more? Know that you need to put something in place to fix your financial situation or prevent it getting worse? Is a Scottish Protected Trust Deed the answer?

This is a guide to what is required and what the process entails when setting up a Scottish Protected Trust Deed through www.scottishtrustdeed.info

1. Get in touch by either entering your details on our site www.scottishtrustdeed.info and someone will be in touch or call on 01415821452 or email us at enquiries@solutionsscotland.co.uk.

2. One of our advisors will then be in touch for a five to ten minute chat to gain your personal details in order to let you know if your tick the boxes to become eligible for the Scottish Protected Trust Deed process or not. We will be able to give a rough guide of what your payments to the plan would be using guidelines.

3. Once one of our advisors has spoken to you and checked your eligibility they will explain all of your options that you qualify for when it comes to dealing with debt. If you then think the Scottish Protected Trust Deed is an option for you the advisor will book in your first free face to face appointment.

4. Your first free face to face appointment does not involve any form of you committing to anything, our representative is simply there to help you with any information required and collect information and documentation for the Scottish Protected Trust Deed application.

5. After your first appointment your case advisor will package all of your information along with your documentation to back the information up and send it to a licensed insolvency practise to check if you will be accepted for the plan and to fully advise you on your situation.

6. Once the insolvency practise receive your case they will call you for around 20-30 mins on a recorded call to confirm your information, make sure they have everything to review the case and let you know what the Trust Deed entails and advise you on all your options to become debt free so you are fully informed on what help is out there. At this point they will cover what your cost per month would be to the plan.

7. If accepted by the insolvency practise they will draft up your Trust Deed proposal and post it to you. You will have a chance to read over the documents and then we will send the representative back to run over the documents with your to explain anything you do not understand, then if you decide that you would like to commit to the plan you would sign the agreement with our representative witnessing the documents.

8. Once the signed documents have been returned to the insolvency practise they will lodge the documents for the Trust Deed to become a Scottish Protected Trust Deed this can take up to five weeks. After the documents have been signed your first payment will be expected within six weeks to the plan, we do not charge set up or monthly management fees you only pay what is required into the plan.

After the five weeks and the case becomes a Scottish Protected Trust Deed your agreement is legally binding and your creditors nor you can back out of the agreement. After that period all communication from your creditors will have stopped and you will receive no further communication from the insolvency practice unless there are any issues with your payment or a creditor continues to contact you, the only communication after this period is your yearly review in the plan.

Have some more questions? Just ask!

If you are stressing out about your debt just get in touch and one of our friendly advisor will do their best to take the worry away!