Length – Trust Deeds last for a typical duration of 4 years. In some cases, this may be extended to 5 years.
After this time, any remaining unaffordable debt is paid off. With the Debt Arrangement Scheme, they last until all your debt is repaid, this can be up to 12 years but could also be sooner.
Unsecured debt amount – To qualify for a Protected Trust Deed, you must owe at least £5,000 of unsecured debt such as credit cards and loans. For DAS, there is no minimum debt level required in a Debt Payment Programme (DPP).
Assets – DAS does not involve any assets.
When you’re looking for Debt Help in Scotland, you should always get debt advice tailored to your own circumstances, as your case is unique and will depend on factors finding your assets and affordability. Things that are unique to you.