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IVAs and Trust Deeds Scotland - What’s The Difference?

If you’ve been doing some research on how to pay off your debts, even possibly on how to get some of those debts written off, you’ll have come across the term IVA and Trust Deeds Scotland on your travels. This site contains all the information you need to know about IVAs, but you may not have much idea about Trust Deeds and whether they apply in your circumstances.

IVAs and Scottish Trust Deeds – both are very effective debt management methods to avoid bankruptcy and both very serious undertakings involving legally binding agreements between you and your creditors that are mediated by an Insolvency Practitioner. In addition IVAs and Trust Deeds:

  • Require you to have three or more creditors

  • Are based on your ability to pay

  • Can only be undertaken if you have a job

  • Require you to have £175 surplus income before debt payments

  • Are only for use with unsecured debt

  • Freeze the interest and charges on your debts

  • Write off any unpaid debt at the end of the agreement

  • Can help you protect your career if bankruptcy cannot be undertaken due to your employment contract

  • Allow you to hold public office or be a company director at the same time

  • Affect your credit record

  • Are recorded on a public register

So very similar products in many ways, but it’s the differences that will decide which one you can take out and if you would qualify to do so:

  • Trust Deeds are available to residents of Scotland while IVAs are only available to residents of England, Wales and Northern Ireland. You will need to have been a resident for six months or more in both cases to apply.

  • IVAs last 60 months or 5 years, whereas Trust Deeds last 48 months or 4 years.

  • To take out an IVA you must have unsecured debts of £15,000 while Trust Deeds need only £10,000.

  • Trust Deeds require your IP to apply for ‘protected’ status separately to prevent your creditors from taking action against you, while an IVA automatically bestows this protection. For Scottish citizens this could have potential ramifications if your creditors do not agree to your proposal, as the lack of automatic protection could mean your creditors could move to make you bankrupt.

  • Trust Deeds are published in the Edinburgh Gazette when they gain ‘protected’ status, while an IVA is not published anywhere at all, giving you much more anonymity than Scottish citizens.

IVAs and Trust Deeds are not a quick fix for debt by any stretch of the imagination, and they need the help of a professional debt counselor or Insolvency Practitioner to assess your financial suitability.


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By answering a few simple questions, our calculator will see if you can qualify to write off your unaffordable unsecured debts.

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An IVA only lasts for 60 months (5 Years). As long as you keep up repayments any unnafordable unsecured debts are written off.
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______________ is an introducer and not an insolvency practice. With your approval, following advice from your SFS adviser, if you choose to go ahead with an IVA then we will pass a completed fact-find to an Insolvency Practitioner who will then present a proposal to your creditors. © 2018 All rights reserved. is managed by Right Protect Limited.

Debt Solutions Subject to conditions and acceptance. Credit rating may be affected. Repaying debt over longer period may increase the total amount to be repaid. Fees payable if continuing services provided. Alternative free-to-consumer debt advice organisations as recommended by the Money Advice Service. Call charges may apply if calling from a mobile. *You may be required to pay a contribution towards your debts. This contribution is assessed based on your income and expenditure and can last for 60 months or longer.