Scottish Government Backs Trust Deeds to Delight of Scottish Trust Deeds UK

(EMAILWIRE.COM, May 24, 2012 ) United Kingdom -- Leading trust deed website, Scottish Trust Deeds UK, has been delightedly reporting on some huge news in the finance industry. The service is focused on those in Scotland that take advantage of protected trust deeds to help combat their financial strife and news today that the government is giving a boost to the legislature has been deemed as positive for all involved.

News transpired this week that Scottish ministers wish to alter the way that the trust deed works. Following a consultation on how to balance the needs of debtors with the rights of creditors, the move has been made to give a welcome boost to anyone struggling to make ends meet via a debt arrangement scheme.

As readers of http://www.scottishtrustdeedsuk.co.uk will be aware, Scottish Trust Deeds are voluntary agreements whereby a debtor offers to place any assets they can towards paying off their debts over a fixed term – this is usually never more than 36 months. They are quickly becoming a preferred method of debt consolidation.

Scottish Trust Deeds are regarded by many to be less severe than insolvency and can be used to stave off bankruptcy. This may well have been a contributing factor to the government’s decision to support trust deeds as they try to help the community combat the on-going financial doom and gloom.

Fergus Ewing, minister for personal debt and insolvency, has said of this intriguing trust deed development: “The Scottish Government understands that by enhancing the protected trust deed process to ensure it balances the needs of indebted individuals and their creditors, it will assist in the financial rehabilitation of individuals and help strengthen Scotland’s growing economy.”

Scottish citizens that feel that a Scottish Trust Deed may be suitable for them, can click this link to find a myriad of topics and news articles. Alternatively, they can read the Scottish Trust Deeds UK Blog.

Young Academic
Charles Whitworth
07775512432
charles@youngacademic.co.uk