Trust Deed Disadvantages

Debt solutions have a number of advantages and disadvantages that must be considered before an informed decision is reached. Always seek expert advice. Please call our One Advice Advisors on 0800 019 5870 to see whether a Trust Deed is right for you.

Disadvantages of a Trust Deed:

• Any existing arrestments or diligences will still be effective, so it is important to fully disclose all financial information.
• You cannot be a director of a limited company
• It will affect your credit rating.
• If you fail to keep up repayments then your assets may be at risk, and bankruptcy proceedings could start against you.

If you still feel unsure about how to tackle your debt problems, please do not hesitate to call one of our expert advisors on 0800 019 5870, or fill in the online Debt Wizard form.

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.)