We’re not a lender and we don’t provide loans — but if you’re looking to roll several debts into one, there may be a smarter way. For residents of Scotland, a Trust Deed or the Debt Arrangement Scheme can bring your unsecured debts together into a single affordable monthly payment without taking out any new borrowing. It won’t be right for everyone, so we’ll explain the risks too.
The solutions we advise on are forms of debt solution or insolvency, not loans. Some are recorded on a public register and will affect your credit rating. Your initial advice is free and there’s no obligation; if you go ahead, fees apply and are shown to you in full first. We’re a commercial service — free, independent debt advice is also available from MoneyHelper and the Scottish Government.
When people search for a “debt consolidation loan”, what they usually want is simple: to stop juggling lots of different payments, interest rates and due dates, and instead make one manageable payment each month. A consolidation loan is one way to do that — you borrow enough to pay off your existing debts and then repay the single new loan instead.
But a consolidation loan isn’t the only way, and it isn’t always the best one. It means taking on new borrowing, it usually depends on your credit rating (so it can be hard to get if you’re already struggling), and if the loan is secured against your home, your home could be at risk. We are not a lender and we don’t offer loans. Instead, for people living in Scotland, we advise on debt solutions that consolidate what you already owe into one affordable monthly payment — without you having to borrow another penny.
The two routes that do this are a Protected Trust Deed and the Debt Arrangement Scheme (DAS). Which one suits you depends on how much you owe, what you can afford and your wider circumstances — and we’ll talk you through both, including the risks, before you decide anything.
Rather than lending you money, we look at what you can realistically afford and bring your unsecured debts together into a single monthly payment.
We bring your credit cards, personal loans, overdrafts and other unsecured debts together into a single monthly payment based on your disposable (surplus) income — often lower than the total you pay now.
Because this isn’t borrowing, there’s no new loan to be approved for and no credit check simply to explore your options — so a poor credit score doesn’t shut the door the way a loan application can.
Once a Trust Deed is protected or a DAS is approved, interest and charges on the debts included are frozen, so the amount you owe stops growing while you pay it down.
Free, confidential advice with no obligation. Find out in minutes how you could bring your debts into one payment.
See if you qualify →A debt consolidation loan can work for some people. But if any of the following sound familiar, one of the Scottish debt solutions we advise on may be a better fit.
If lenders have turned you down for a consolidation loan, a Trust Deed or DAS doesn’t depend on being approved for new credit.
A loan repays everything you owe, often with interest. A Protected Trust Deed can write off qualifying unsecured debt you genuinely can’t afford, subject to creditor agreement.
These solutions don’t add to your debt — there’s no new loan and nothing secured against your home in order to consolidate.
A Trust Deed and DAS are Scotland-only statutory solutions — and dealing with Scottish debt is all we do.
We’ll always talk you through the advantages, disadvantages and risks of each before you decide.
A Scottish alternative to bankruptcy for unsecured debts over £5,000. You make one affordable monthly payment, typically over around four years (48 payments), after which qualifying unsecured debt you can’t afford is written off — the amount depends on your circumstances and creditor agreement, and is not guaranteed. It’s a form of insolvency, recorded on the public Register of Insolvencies, and affects your credit rating.
Learn about Trust Deeds →A Scottish Government scheme that lets you repay your debts in full through one affordable payment, with interest and charges frozen and your home and car protected as long as you keep up the payments. Because you repay in full, you’ll need enough disposable income to clear the balance over a reasonable period, and it will still affect your credit rating.
Learn about DAS →For the right person, bringing debts together without new borrowing offers real relief. Here are some of the main advantages.
Replace a pile of separate payments with a single monthly amount based on what you can actually afford.
We deal with your creditors directly, so you no longer have to liaise with them yourself.
There’s no loan to take out and nothing new secured against your home simply to consolidate.
Once your solution is in place, interest and charges on included debts are frozen so the balance stops growing.
These are debt solutions, not loans, and some are forms of insolvency. They’re serious commitments, so we’ll fully explain the implications and check any solution is affordable, achievable and suitable for you. Another option may be more appropriate.
A Trust Deed or DAS will affect your credit rating and can make obtaining credit harder for a period. That said, if you’re already missing payments, your credit rating is likely to be affected already.
A Protected Trust Deed is a form of insolvency and is recorded on the public Register of Insolvencies, which anyone can search. A DAS is recorded on the DAS Register.
Only unsecured debts (such as credit cards, personal loans and overdrafts) can be included. You’ll need to keep paying secured debts like your mortgage yourself.
With a Trust Deed, how much unsecured debt is written off depends on your circumstances and your creditors’ agreement. Creditors are not obliged to accept a proposal.
If you do choose a commercial consolidation loan elsewhere, spreading debt over a longer term can mean paying more interest overall, and a loan secured on your home puts your home at risk.
In a Trust Deed the trustee has an interest in any equity in your home. Where appropriate this can be managed, but if equity can’t be released your home could be affected.
If the following sounds like you, consolidating your debts without a new loan could be worth exploring. There are other factors we’ll assess, such as your property status and income.
Bring your unsecured debts together into a single affordable monthly payment — with no new borrowing.
Check if you qualify Free initial advice · No credit check to explore your options · Fees apply if you proceed and are shown in full firstYour initial advice is free and there’s no obligation. Trust-Deeds.co.uk is a trading style of My Debt Plan Ltd — a commercial, profit-seeking service, paid for the debt solution you enter into. We do not charge you to borrow, because we don’t lend.
If you go ahead with a Protected Trust Deed, your trustee is paid a fixed administration fee plus a further fee based on a percentage of the funds collected during the Trust Deed. These fees are paid from the monthly payments you make, before money is distributed to your creditors — so there is no separate upfront fee. On a Debt Arrangement Scheme, a fee is taken from your monthly payment to cover the cost of administering and distributing it to your creditors. Whichever route suits you, all fees are explained and disclosed to you in full before you sign anything.
Consolidating without a loan is one approach. Depending on your circumstances, another Scottish debt solution may suit you better — we’ll always explain the advantages, disadvantages and risks of each.
One affordable monthly payment, typically over around four years, after which qualifying unsecured debt you can’t afford is written off (subject to creditor agreement, not guaranteed). A form of insolvency recorded on a public register.
Learn about Trust Deeds →Repay your debts in full through one affordable payment with interest and charges frozen and your home and car protected as long as you keep up the payments. It will still affect your credit rating.
Learn about DAS →Find out in minutes how you could bring your debts into one affordable payment — without a new loan. It’s free, confidential and there’s no obligation.
Answer a few quick questions about your situation and a debt advisor at My Debt Plan Ltd will be in touch to talk through your options. It’s free, confidential and there’s no obligation.
See if you qualify →Prefer to speak to someone? Call us on
0161 464 0870Mon–Fri 9am–5pm · Private & confidential, no obligation
Free, independent debt advice is also available from MoneyHelper, StepChange, National Debtline or Citizens Advice Scotland.
Straight answers to the questions people ask most before choosing a Scottish debt solution.
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