I want to thank you and your team for offering to help me when I was at a crisis point back some 9+ years ago. The way GWF managed this was excellent and that took away a lot of my painful stress, thank you. I cannot put in words the relief I have for paying the creditors back in full "my hair may start to grow back!" and I look forward to the future.
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.
* A Trust Deed does not cover priority bills or some types of debt. See ‘What is a Trust Deed’ for information on what you can include
Debts which can be included within a Debt Management Programme include:
It remains your responsibility to make payments to priority commitments outside of your Trust Deed, for example; your mortgage / rent, secured loans, vehicle Hire Purchase, current and future council tax, HMRC debt and taxes, child support and fines. Failure to pay these could lead to repossession, loss of access or use of essential goods or services or even imprisonment.
If you are in arrears, or are concerned about your ability to pay commitments like these, GW may be able to offer advice and make suggestions to ensure you get back on your feet with priority expenses, if we can’t help you, we will point you in the right direction.
To give you an idea of how a Trust Deed might work for you, the fees and timescales, see our below example. We would be happy to provide you with something more specific and tailored to your personal circumstances. Just complete our online enquiry form and we will call you back or call on either 08081 292 010 or 0161 476 9500.
Mr R lives in rented accommodation. He had debts totalling £10,851.
He could only afford £116 to his creditors.
His TD was protected for £116 x 48 months.
Here’s how it worked:
48 months x £116 = £5,568 paid in to the Trust Deed
£10,851 – £5,568 = £5,283 debt Mr H was discharged from
GW Financial Solutions UK Ltd. is a limited company registered in England, Company No: 6855313 Registered office: GW Financial Solutions UK Ltd, Vitality House, Wellington Road South, Stockport, Cheshire SK2 6NG. DPA No: ZA037135
GW Financial Solutions UK LTD is authorised and regulated by the Financial Conduct Authority (662424)
All enquiries made via our website contact forms or contact numbers will be handled exclusively by GW Financial Solutions UK Ltd.
GW Financial Solutions provides debt advice via telephone consultations but can also accommodate visits and face-to-face consultations at the registered business premises.
GW Financial Solutions UK Ltd. refers clients to Hanover Insolvency Practice, The IVA Advisor for Individual Voluntary Arrangements and J3 for Trust Deeds.