What Is A Trust Deed?

[gordiescotland1]

Hi I am in debt by £6486 I have been in touch with an organisation called payplan and they are getting back to me they are suggesting I go for a trust deed I live in Scotland any idea what one is they are going to call me later with the details but I am curious anyone any ideas?

[RATTER15]

Take your pick: https://www.google.co.uk/search?q=Trust+Deed&oq=Trust+Deed&aqs=chrome..69i57j69i61&sourceid=chrome&es_sm=122&ie=UTF-8

[Zacs-Master]

To assess whether this is right for you, I would have a look at the link below. They sometimes need you to release equity in your home (if your a home owner)
http://www.trustdeedscotland.net/frequently-asked-questions.php

[maggiebee]

I would tread warily with this one. Daughter's friend had lots of problems with a trust deed. Having said that, if you read up on it and go in with your eyes wide open they may be perfectly OK.

[Peter Pedant]

Payplan are in it for the fees they charge which is classically one months repayment

I have to say I am surprised that no one above has told you you should be seeking free independent advice - darn sarth it is CAB - there must be an equivalent in bonnie Scotland.

crap deal basically

you need debt advice - like now ! I just dont know what the CAB equiv is and good luck