A Trust Deed is a voluntary, but legally binding agreement between you and your creditors. A Trust Deed allows you to make affordable monthly payments towards your debt over a typical term of four years, allowing you to repay all or part of what you owe. A Trust Deed is supervised by a Licenced Insolvency Practitioner, also referred to as a Trustee. A Trust Deed is available for Scottish residents only, a minimum of six months residence in Scotland is required. Trust Deeds are an alternative option to Bankruptcy, or Sequestration as it is also known as in Scotland.