Popular in Course
verified elite notetaker
Popular in Business
This 1 page Document was uploaded by an elite notetaker on Monday December 21, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 6 views.
Reviews for Scottish-Trust-Deeds
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 12/21/15
A Scottish Trust Deed Can Free You There is no shortage of people who are largely unsympathetic towards those in debt in this day and age, believing that debt is a self-inflicted curse and an issue for the debtor to sort out. And while it would be naïve for anyone to deny that there is a great deal of personal responsibility for the debtor to take on board the fact is that it can happen to the best of us due to circumstances that are beyond our control. It is becoming all the more difficult to find a job that is free from the threat of redundancy, and smug comfort can become abject terror all too quickly. While those people mentioned above may consider the provision of debt support to be a kindness too far, the fact is that it is a very human mistake to become overcommitted. Finding the money to service that debt is not easy and before too long it can feel like one is drowning in debt. The option of a Scottish Trust Deed can be the lifeline that you need in this situation, and it could allow you to write off the majority of your debt and look towards getting your financial situation back on an even keel. For those who pay into a trust deed on time and in full, freedom from debt may only take three years. The reality of being debt free might seem far off when you count the 36 months that it takes one by one, but then it is necessary to think of the other benefits of entering a Trust Deed or a Debt Arrangement Scheme. Upon taking this action and completing the paperwork you can immediately rely on the interest and charges being frozen on your account. Perhaps as importantly, you can rest easy about the phone ringing in the evening, as creditors are no longer allowed to make collection phone calls to your home. Banks and debt collection services are of the opinion that debtors will give in and pay if they are called often enough, which betrays a lack of understanding of the situation faced by a debtor. Those phone calls can create a situation in which people are so pressured that they become stressed out and, far from being better able to make their payments, they fall ill and lose their jobs or worse. Responsible lenders realise that it is better to work with a trust deed provider, who will see that they get some money, than to try and force money out of a frightened customer. Scottish Trust Deed arrangements are government-backed and the legal status that this confers upon them is the best possible protection for a person looking to cast off the shackles of their debt. A manageable schedule of repayments for three years, followed by a debt-free future, is something that can take an almost palpable weight from around your shoulders right when you most need to be able to take a breath.
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'