Trust Deed Advantages

One Advice believes that clients must be highly informed about the pros and cons of a Trust Deed and their alternatives.

For a more indepth analysis of your finances, please call us free on 0800 019 5870.

Advantages of a Trust Deed:

• A Trust Deed is more financially flexible in comparison to bankruptcy (sequestration), as you (instead of your creditors) are in control of your finances.
• One low affordable monthly payment.
• It lasts for 36 months, and any remaining debt is written off.
• The Trustee will deal with all correspondence regarding your debt.
• Once the Trust Deed has been accepted, no further interest, charges or action can be taken against you by your creditors.
• You will still be able to have the right to hold certain public offices.
• You will still be able to remain self-employed
• Your information about the Trust Deed will not be published.

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.)