Trust Deed Implications

It is important that you are aware of any implications that may be attached to your Trust Deed agreement before you decide that it is the right debt solution for you.

Please seek expert advice by calling our advisors on 0808 131 9101. 

Trust Deed Implications:

• Any existing arrestments or diligences will still be effective, so it is important to fully disclose all financial information.
• Your credit rating will be damaged.
• You cannot be a director of a limited company
• If you fail to keep up repayments then your creditors can start bankruptcy proceedings against you.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)