Trust Deed

What is a Trust Deed?

A Trust Deed is a Scottish term for a type of IVA or Administration Order, in which the debtor’s assets are controlled by a trustee for the benefit of the creditors. The debtor grants a deed in favour of the trustee to enable this, hence the name of trust deed. It is also possible to ‘protect’ the trust deed, which prevents creditors petitioning for sequestration of pursuing the debtor in any other way.

A trust deed normally lasts for 3 years, and the trustee deals with all correspondence from creditors. This arrangement is often preferred to sequestration (Scottish bankruptcy) by both creditor and debtors, as trust deeds are less costly to administer and are more flexible, although they are still regulated by the Bankruptcy (Scotland) Act 1985.


Q: Can you get a Trust Deed outside of Scotland?

A: No. Although there are similar IVAs or Administration Orders available in England & Wales.

Q: Where are Trust Deeds registered?

A: Trust deeds are registered online at the Register of Insolvencies. These are available to view online and will show your name, current and previous addresses, date of birth and more.

How does a Trust Deed appear on my Credit Report?

A: Active Trust Deeds, along with any other form of court information or IVA will appear under the Court Records section of your checkmyfile Credit Report.

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