If accepted, they agree to a fixed affordable monthly payment over a fixed term (usually three years). If your trust deed is accepted it becomes ‘protected’. This means the creditors will not chase you for payment or add any more interest to your balances, and will prevent your creditors from taking court action once it is ‘protected’. It is a form of insolvency and so your unsecured debts need to outweigh your assets, such as property or vehicles.

You cannot arrange a trust deed without an Insolvency Practitioner, the 'trustee'. The Insolvency Practitioner acts on your behalf to draw up the proposal, hold a creditors meeting to get the proposal accepted, and support you throughout the arrangement. An Insolvency Practitioner will charge for their services and it is important that you shop around for the right one. Alternatively we can recommend an Insolvency Practitioner.

Before you start investigating into a trust deed, it is important to first find out if a trust deed is the best option for you.

Trust deeds are a specialised area of advice and we can help by referring you to a reputable Insolvency Practitioner. You can use our online debt counselling service, CCCS Debt Remedy, which will provide you with the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.