If you’re in Scotland and looking into an IVA, there’s something important to know: an IVA isn’t available here. It’s an England, Wales and Northern Ireland solution. The Scottish equivalent is a Protected Trust Deed, which works in a very similar way — one affordable payment, with debt written off at the end.
The solutions we advise on are debt solutions, not loans; some are forms of insolvency, 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.
An Individual Voluntary Arrangement (IVA) is a formal debt solution — but it’s set out in law that applies only to England, Wales and Northern Ireland. Scotland has its own insolvency framework, so if you live in Scotland you can’t enter an IVA.
The good news is that Scotland has a close equivalent: a Protected Trust Deed. Like an IVA, it’s a formal arrangement where you make one affordable monthly payment (typically for around four years), your creditors are bound once it’s protected, interest and charges are frozen, and any qualifying unsecured debt you can’t afford is written off at the end — subject to creditor agreement, and not guaranteed.
So if you’ve been researching IVAs, you’re in the right place — you just need the Scottish version. If a Trust Deed isn’t the best fit, we can also talk you through the Debt Arrangement Scheme or sequestration.
The Scottish equivalent of an IVA works on the same principle: pay what you can afford, and have the rest of your qualifying unsecured debt dealt with formally.
You make a single monthly payment based on what you can realistically afford, usually over around four years (48 payments).
Once enough creditors agree, the Trust Deed is ‘protected’ — creditors are bound by it, must stop contact, and interest and charges are frozen.
When the arrangement completes, qualifying unsecured debt you couldn’t afford is written off — subject to creditor agreement, and not guaranteed.
Free, confidential advice with no obligation. Find out in minutes whether a Trust Deed could help you.
See if you qualify →For the right person, these solutions offer real relief. Here are some of the main advantages.
Bring your unsecured debts together into a single monthly payment based on what you can realistically afford.
We deal with your creditors directly, so you no longer have to liaise with them yourself.
Once your solution is in place, interest and charges on the debts included are frozen so the balance stops growing.
Dealing with Scottish debt is all we do, so the advice you get is tailored to the solutions available where you live.
These are debt solutions and some are forms of insolvency — serious commitments. 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. If you’re already missing payments, your rating is likely affected already.
A Protected Trust Deed is a form of insolvency 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, loans and overdrafts) can be included. You must 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.
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.
No single solution is right for everyone. We’ll always check whether another route — or free, impartial advice — would serve you better first.
A Protected Trust Deed could be worth exploring if the following sounds like you. There are other factors we’ll assess, such as your property status and income.
Like an IVA, a Protected Trust Deed typically runs for around four years, after which qualifying unsecured debt you can’t afford is written off.
Check if you qualify Free initial advice · 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.
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 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.
A Trust Deed is the closest equivalent to an IVA, but depending on your circumstances another route may suit you better — we’ll explain the advantages, disadvantages and risks of each.
A Scottish alternative to bankruptcy for unsecured debts over £5,000. 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 →A Scottish Government scheme to 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 whether a Protected Trust Deed — Scotland’s IVA equivalent — could help you. 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.
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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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