IVA Scotland
If you are interested in an IVA but you are a Scottish resident, then you will have to look at Trust Deeds, which is similar legislation.
Like an IVA, your unaffordable debt can be written off on completion of the agreement, but this can happen in as little as 36 months. On being accepted for a Protected Trust Deed (PTD) all court action against you will stop, and unsecured creditors will freeze all interest and charges on your debts.
Refused A Loan? A Trust Deed Can Clear Your Debt
If you debt is unaffordable, then a Trust Deed could be a great way for you to secure a debt free future. You will still be allowed to use a bank account, although some of the extra facilities may be withdrawn.
For more information about Trust Deeds, please call Refused A Loan on 0800 048 1769.
A PTD (Protected Trust Deed) is for unsecured debts and Scotland residents only, and should only be considered in extreme circumstances as failure to adhere could result in Sequestration (The Scottish legal term for Bankruptcy). Debt write off applies only where the PTD is agreed by your creditors and you have completed the, typically, 36 month term. Once your PTD commences, your monthly contribution is fixed and that is all you have to pay. There are no additional fees on top. The fees, paid by your creditors, are taken out of your monthly contributions to your PTD and will be notified to you in advance. Some homeowners may be required to remortgage. Terms & Conditions Apply.
Refused A Loan is a trading style of Ask Finance Ltd (Registered in England and Wales. Company number 4229724), a wholly owned company of the Harrington Brooks Group Ltd. Ask Finance Ltd is licensed under the 1974 Consumer Credit Act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance Ltd is authorised and regulated by the Financial Services Authority - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.