Debt Advice and Money Advice

Unfortunately debt problems are becoming a feature for many people in today's society.

Most debts are well managed over a period of time. However, sometimes personal circumstances can change which cause debt to become a problem. If you are in this position, there are several options available:

• Debt Arrangement Scheme
• Sequestration
• Trust Deed

A Trust Deed is a real alternative to Sequestration and could be your best solution if you have a substantial amount of unsecured debt. It acts as a legally binding agreement between you and your creditors and can only be set up by a licensed Insolvency Practitioner.

Features of a Trust Deed

• The unpaid balance of your debts is written off.
• One affordable monthly payment - usually for three years.
• Protects you from further action by your creditors.
• Your creditors are legally bound by the terms of the agreement.
• No uncertainty: you know how much you pay and for how long.
• Can be used to prevent Bankruptcy proceedings against you.
• Real alternative to declaring yourself Bankrupt.
• No public notices: a Trust Deed is a private arrangement between you and your creditors.

"E.L. had debts of £56,000 including substantial amounts owed to his family. He had been working overseas and was not aware of the debts being built up in his business, which was being run by his wife. Bankruptcy was the option recommended by CS Corporate Solutions. E.L. is paying £200 per month, which is all he can afford from his salary, but after three years – having paid only £7,200 – he will be debt free."