Trust Deeds and How They Affect Your Property

Unemployment figures may indicate that more British people are now working compared to 2013, but this does not necessarily mean that citizens are financially stable. Having a regular job does not make paying for utility bills, rent and the overall cost of living much easier for an alarming number of taxpayers. Of course, employment is welcome, particularly in such a harsh economic climate, but figures should be taken lightly due to a high number of Britons remaining in the red.

Falling into debt problems causes real anxiety and panic among people of various age groups around the UK. Quite often people in this predicament can feel helpless, with no hope of regaining a strong economic standing. Fortunately, perceived hopelessness can soon be eradicated when you contact us at Council Tax Advisors. Receiving free and independent advice should not be underestimated – we only have our client’s best interests at heart unlike payday lenders and debt collection companies.

An option for Scottish residents struggling financially is signing up to a trust deed. People living in Scotland can typically pay off debts totalling £5,000 within four years without losing their home or car if they make the agreed regular repayments. You must have a regular income to make sure your occupation of a flat or house is unaffected by a trust deed. If you make all the agreed payments to creditors then you’re protected from losing your home.

When people sink into debt they can lose everything. Possessions, however precious some people view them, are quite frankly of minor importance to your property where you may have lived for years or where you’re raising children. Losing this is not an option – with the spiralling cost of the UK housing market it can be difficult to quickly find a replacement home. For this reason, getting a trust deed may be your best option to protect vital belongings.

Children will understand that they can’t afford a new HD television, but will be less understanding and sympathetic if you’re kicked out of a home. If you have a regular income then this can be avoided. Your eligibility to getting a trust deed is not dependent on whether you’re a private tenant, homeowner or council tenant. Trust deeds just cover your unsecured debts – arrears arising from personal loans, credit cards along with other things.

If you do not pay the agreed repayments then you put yourself at risk of sequestration and this includes prized assets such as your property. Success is not guaranteed, but if you can afford the repayments then you should be able to write off your debts without burdening yourself and loved ones with eviction. However worried you are about debt, it can be solved and contacting Council Tax Advisors is an effective first step in combating the problem.

We are committed to helping anyone with debt problems, whatever the cause. We recognise that there can be several reasons why people fall into the red, but don’t worry – call us and we’ll find a solution for you. A trust deed may be your best course of action, but we are adept at finding several other options for you to turn your finances and life around.

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You can get free debt advice from Money Helper,
an organisation set up by the government to offer free and impartial advice to those in debt. Just click the link above to find out more.

Council Tax Advisors is a trading name of Ruby Holdings Limited.
Registered in England and Wales, Company Registration Number: 09496123
Registered office: 103 Bradley House, Radcliffe Moor Road, Bolton, Lancashire, BL2 6RT.
Data Protection Number: ZA130896
Financial Conduct Authority Reference Number: 763879
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