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TRUST DEEDS BY THE EXPERTS AT CDM FINANCIAL

THE FIRST STEP TO A STABLE FUTURE

May not be suitable in all circumstances. Fees apply, your credit rating may be affected.

YOUR LOCAL, TRUSTED SPECIALISTS

It can feel stressful and embarrassing when you hit hard financial times, especially when you have a family to support. Seek help from your local, trusted specialists at CDM Financial today! We understand that getting into debt is not always preventable, especially during these uncertain financial times. One solution you might want to consider, is a Trust Deed.

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A Protected Trust Deed (Trust Deed) is a formal, legally binding agreement between you and your unsecured creditors.  It is only available to people who live in Scotland.  A Trust Deed allows you to set up an affordable repayment plan with the unsecured creditors included in the Trust Deed over a set period of time (typically over 4 years).

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If you decide to proceed with a Trust Deed, there are fees applicable. These fees are included in your affordable monthly repayment and not on top of.  

May not be suitable in all circumstances. Fees apply, your credit rating may be affected.

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May not be suitable in all circumstances. Fees apply, your credit rating may be affected.

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WHAT ARE THE BENEFITS AND RISKS FOR YOU?

BENEFITS OF A TRUST DEED

  • One affordable monthly payment made to Insolvency Practitioner over a fixed period of time generally 4 years

  • Creditors consent is required to approve a Trust Deed, as long as 33% of your creditor value do not object you will be Protected

  • Following approval of a Trust Deed, people you owe money to cannot take further action to enforce the debt, and all interest and charges are frozen

  • The costs are deducted from the payments you make each month NOT over and above

  • Any outstanding balances from qualifying unsecured debts, owed at the end of the successful term are written off

  • You cannot be forced to sell your property whilst subject to a Protected Trust Deed

  • The treatment of any available equity in your property is agreed upon before signing a Trust Deed and will not be changed during the term.  

RISKS OF A TRUST DEED

  • Approval of a Trust Deed is not guaranteed, people you owe money to may reject

  • There are costs associated with a Trust Deed

  • Your credit file can be affected for 6 years

  • Your information is placed on the Insolvency register which is a public register

  • If the Trust Deed fails, you could face Sequestration and any interest that was suspended could be added to your debt

  • Restrictions on expenditure apply

  • Debts not included within the Trust Deed will remain outstanding

  • If you are required to re-mortgage to release equity in your property, this may attract higher interest rates.

  • There are restrictions on your expenditure when entering into a Trust Deed

  • Only unsecured debts included within the Trust Deed will be discharged at the end of the term, unsecured debts not included remain outstanding.

Discuss our Trust Deeds for clients in Scotland today!

May not be suitable in all circumstances. Fees apply, your credit rating may be affected.

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ABOUT CDM FINANCIAL

CDM Financial was established to help the UK public get out of debt. We use a professional and sympathetic approach with every person we speak to. At CDM, we are a service to anyone we speak with, we do not believe in charging a person money when they are already in a difficult financial position. We go the extra mile to help, we can speak by WhatsApp, text or phone call which allows us to be more flexible and help around your schedule.

CDM, is a trading style owned and operated by Phoenix Insolvency Practitioners Limited. Registered address: The Forum, Tameside Business Park, Windmill Lane, Denton, Manchester, United Kingdom, M34 3QS

, Company registered number: 12437227, Data Protection Act Registration number ZA755265. ​

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Mark Littleton-Gray (IP No.22594) and Catherine Varney (IP No. 24052) are authorised to act as Insolvency Practitioners, in the UK, by the Institute of Chartered Accountants in England and Wales.

 

Andrew Maak is authorised to act as an Insolvency Practitioner in the UK by The Insolvency Practitioners Association.

 

All work undertaken is subject to the Insolvency Code of Ethics. Phoenix Insolvency Practitioners Limited specialise in providing only Individual Voluntary Arrangements (IVA) and any information is given in reasonable contemplation of an insolvency appointment when the individual(s) concerned meets the relevant criteria. 

 

Should an IVA be the appropriate solution, and we are unable to take the appointment then we work with a panel of trusted insolvency practitioners, who we may refer you to progress your case.  Entering into an IVA will affect your credit rating, and fees apply.

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