What happens if I stop paying into the Trust Deed?

In a Trust Deed, your monthly repayments are calculated on what you can realistically afford, you should take care not to agree to anything that is not sustainable. If you are having trouble maintaining these payments because of a change in circumstances you should contact your Trustee immediately to explain why; failure to do so or if you just stop paying will result in the trustee having to take action.

This could include freezing your bank accounts and even petitioning for your sequestration.

Debt Advice Foundation is a registered UK charity offering free, confidential debt advice. If you need advice about Scottish Trust Deeds or would like to see if you qualify, please call the charity’s helpline to speak with a Advisor on 0800 043 40 50.