IVA Scotland

If you are a Scottish resident and you are looking for an IVA then you need to see our information on Trust Deeds.

A Trust Deed is the Scottish equivalent to an IVA. Like an IVA, it is legally binding between your creditors and your unaffordable debt will be written off at the end of the agreement. 

When a Trust Deed becomes 'protected' it means that creditors are unable to take further action to recover any debts owed, such as starting bankruptcy proceedings. 

Contact One Advice for information about an IVA in Scotland. 

One Advice can offer you free information about the Scottish IVA alternative, known as a Trust Deed. We can also offer advice on other alternatives, such as a debt management plan. For more information, call free on 0800 019 5870.

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.)