Unfortunately many folks are in a great deal of debt and can’t see any light at the end of their debt tunnel. They have no idea how they are going to manage paying off all that they owe, and they certainly don’t have any hope of paying everything off in the near future. Fortunately, there are options available to you if you find yourself in this situation. Consider the option of using trust deeds.
Definition of a Trust Deed
What exactly is a trust deed? Well, trust deeds can help people who have a lot of unsecured debt and cannot manage their monthly debt payments. When you get a trust deed, an agreement is made with your creditors to ensure that you have payments that you can manage within your disposable income. Your monthly living expenses are taken into account to ensure that you are not hard pressed to pay all of your other bills. Most trust deeds last just three years, after which time your debt repayment obligation is fulfilled. Sometimes trust deeds can last longer however, depending on the circumstances.
Scottish residents can quickly find out whether they qualify for a trust deed which is a form of debt relief offered in Scotland only by using a Trust Deed Calculator.