Debt Advice News – Page 5 – Trust Deed Scotland

Gloom Lifted After Bankruptcy Decreases

Posted on 22 September 2026 by Craig Stocks

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The effects of a financial crisis can be testing at the best of times with struggles to pay household bills prevalent across Britain. Job losses, limited employment options and increased inflation all have restricted the enjoyment of a large number of Scottish citizens, but the final quarter of 2014 saw improvements for some Scottish businesses along with their workers. For too long the people of Britain have been suffering financially as a result of the global crash and required Debt Help in Scotland – something that was no fault of their own. The figures published by the Accountant in Bankruptcy (AiB) reflect a positive step forward for Scottish businesses and their population.

Personal insolvencies dropped by 12 per cent between October and December 2014 (2,633) which is the lowest since the recession began. Fewer companies went into liquidation during these three months which was nearly 16 per cent lower than the same period in 2013. Although this does not guarantee a swift economic recovery, it is at least some positive news after a troubling number of years. Britain’s economy has slowly been growing although it’s fair to say politicians would have hoped for a speedier and more significant economic growth in the UK.

It is understandable to view the AiB’s figures with an element of pessimism, because of the financial uncertainty around Europe. Bryan Jackson, business restructuring partner with accountancy firm BDO, believes there will be difficult times ahead for European companies: “Business owners need to prepare themselves for a bumpy ride in 2015 as patchy growth in many parts of Europe may impact on growth in Scotland,” he warned.

On the other hand the fact there has been a reduction in personal insolvencies should not be dismissed either. Unemployment is falling in the UK and that can only be a good thing for its people. A downside of the research is that the period was before, not after Christmas. Unfortunately, there are several cases of people plunging into debt by spending too much during this special time of the year and some take out high-interest loans that actually worsen financial positions.

Business minister Fergus Ewing said the government could not rest on their laurels on bankruptcy despite improvements at the end of 2014. “There can be no doubt insolvencies falling back to pre-recession levels reflects the improving economic picture in Scotland – but there is no room for complacency,” he said.

Here at Trust Deed Scotland, our team of financial experts are always on hand to provide you with impartial guidance when it comes to your financial difficulties. By keeping abreast of news regarding personal debt, including government legislation, public borrowing trends and national statistics, we are perfect placed to lend a hand.

Payday lenders may seem attractive at the time, but they are like a rotting apple for your finances. They have a bad reputation for a reason, whereas we are proud to say Trust Deed Scotland have an excellent Trust Pilot rating thanks to our helpful staff and expertise.

For more information contact us by phone 01412210999 or email enquiries@https://www.trustdeedscotland.net. If you would rather speak to us in person then please visit our offices in Aberdeen, Glasgow or Edinburgh today.

Trust Deed Scotland is now the Most Trusted Debt Advisor on Trustpilot

Posted on 22 September 2026 by Craig Stocks

Nobody likes thinking about financial issues. If you haven’t sought out the right debt advice service you’ll probably have a knot in your stomach at the thought of your balance sheets. Fortunately, as thousands of our clients have found out, it doesn’t have to be this way.

With Trust Deed Scotland hitting a TrustScore of 5/5 from over [reviews] reviews, we’re confident that we have the best possible service for people in Scotland struggling with their debt.

Trustpilot is a review driven community where consumers can collect reviews, letting other people know what they think of services they’ve used. It’s like the Yellow Pages where companies are ranked based on how trustworthy they have been found to be.

Consumers are asked to give a star-based rating from 1-5, and to “share your honest experience, and help others make better choices.” This score is averaged out to give a company’s ‘TrustScore’.

With this in mind, we’re proud to announce that our Trustscore has hit a record high of 5/5. The good news doesn’t end there though – we’re also incredibly honoured to be ranked 1st in Scotland in the Trustpilot Debt Relief category.

We’re also high within the Money category. This category is incredibly broad, covering everything from accountants and banks to mortgage brokers and money transfer companies. Unsurprisingly, the two companies which are beating us are in completely different financial sectors, separate from both from us and one another.

This in turn makes us the most trusted debt advisory service on Trustpilot, based on actual client feedback.

We would like to thank the hundreds of people who took the time to rate us on Trustpilot, leaving overwhelmingly positive testimonials left on this site for other consumers to see.

If you’ve used our services, your feedback would be greatly appreciated.

Here at Trust Deed Scotland, we help thousands of people get out of debt every year, and we honestly believe that getting out of debt should be a positive experience.

As you can see from the reviews we’ve been left below, our customers have found just that. If you have any questions about our Scottish Trust Deed and DAS Scotland services, read our reviews and then make sure to call us today on 0141 221 0999.

Please note, Trustpilot is our chosen Trust Deed reviews partner. We’re also on other leading review platforms such as reviews.io and Google.

Voluntary And Protected Trust Deed Differences

Posted on 22 September 2026 by Craig Stocks

If you are struggling to cope with unaffordable debt in Scotland, you may decide to pursue the idea of entering into a Scottish Trust Deed. A Trust Deed is a formal debt solution and can be either voluntary or protected. Depending on your unique situation you will need to decide how you are going to face your debt problems. Entering into a Trust Deed is not a decision that should be taken lightly. As experts in providing debt advice in Scotland, Trust Deed Scotland^® believes that it is important that debtors fully understand the debt solution options that are available to them. Here is our guide on the difference between Voluntary and Protected Trust Deeds.

Voluntary Trust Deed Definition

A voluntary Scottish Trust Deed is a financial agreement that is made between a debtor and their creditors. The voluntary Trust Deed stipulates that the debtor must repay part, or all of what they owe. The Trust Deed will transfer the debtor’s rights to the things that they own, to a trustee, who will sell these items to pay creditors. This type of trust deed will usually require a contribution from income for a set period of around 48 months. Anyone overseeing a voluntary trust deed must be a qualified insolvency practitioner. Insolvency practitioners are regulated by law and should be members of an approved governing body. The voluntary trust is not a binding contract on the part of the creditors. However, if they agree to the terms of the Trust Deed, the Trust Deed ceases being voluntary and becomes protected instead. Therefore voluntary or ‘Unprotected’ Trust Deeds are just the same as a Protected Trust Deed in its initial stages.

Protected Trust Deed Definition

The Protected Trust Deed is a specialised product that binds all creditors to a contract. The trust deed dictates a list of terms and conditions that the debtor must adhere to. As long as the debtor complies with the terms of their protected trust deed, the creditors will be unable to take any further action to pursue any outstanding debt. This means that creditors will not be entitled to make the debtor bankrupt. A Protected Trust Deed will also prevent the debtor from applying for bankruptcy or for any other debt payment programme. If the debtor does acquire any new debts after they signed their trust deed, they will not be protected against any action by their new creditors. A protected trust deed will require the debtor to have debt of at least £5,000.

Why do creditors agree to Voluntary and Protected Trust Deeds?

Creditors are looking to make the best financial decision to suit their own needs. They will look at a proposed Trust Deed arrangement offer and consider whether or not this is the best prospect for making a recovery of some of the money that is owed to them. If a debtor’s financial situation has become serious, Trust Deeds offer a structured debt repayment solution, which is a fair process and which aids both parties. Typically, Trust Deeds offer a better return on debts over Sequestration. If Sequestration appears to be the only real alternative, a lender is likely to support a Protected Trust Deed, rather than a Voluntary Scottish Trust Deed. A reliable Trust Deed provider or insolvency firm will broadly understand what creditors will expect in order to gain their agreement for a Protected Trust Deed. This means that an expert trust deed firm are likely to be able to get your trust deed protected. It will be the responsibility of your trustee to issue any payments.

How will any form of Trust Deed in Scotland affect me?

Any form of Trust Deed should be carefully considered due to the consequence it may have on your professional or financial life. The conditions of a Trust Deed will stipulate that you will have to keep to a strict budget throughout the full term of your Trust Deed. This term is typically four years, meaning you will have limited financial freedom during this time. It is also important to understand that your details will be added to a public register titles the Register of Insolvencies for a period of up to five years. This is available for viewing by the general public and will contain all of the details of your current Protected Trust Deeds. You can also consider alternatives, such as the Debt Arrangement Scheme (Scotland). Find out more about whether DAS is worth it, or is a Trust Deed is a good idea by calling us on 0141 221 0999.