Deed Of Trust Guide

Scottish Trust Deed Section


 

Scottish Trust Deed Navigation

Mortgage Guide Home Page
Partners
Tell A Friend about us
Deed Of Trust Form |
Trust Deed Form |
What Is A Deed Of Trust |
Deed Of Trust Buyer |
Trust Deed Investments |
Trust Deed Investment |
Deed Of Trust Form |
50 Value W 20 Lien Trust Deed Security Interest |
Trust Deed Form |
Sell My Trust Deed |
Deed Of Trust California |
Scottish Trust Deed |
50 Value W 20 Lien Trust Deed Security Interest |
Trust Transfer Deed |
Deed Of Trust Forms |

List of Deed-Of-Trust Articles

Scottish Trust Deed Best seller

Buy it Now!



Best Scottish Trust Deed Products



"Legit Online Jobs" - Click Here To Start Earning Today!


Ovation Credit Services
Check out Ovation Credit Services ... Fix your credit profile today! Ovation specializes in credit report repair. This is an awesome program. They get fantastic results and you'll be amazed at the low monthly fee. Highly recommended!


"How To Get A Mortgage"
Terrific resource on obtaining a mortgage, even if you've been foreclosed or filed bankruptcy. On sale now for only $10.00!


Click Here!


Loan Officer 101 Loan Officer Training. Learn How To Make $100,000 Per Year As A Loan Officer With This 18-lesson Training Program, Complete With 28 Marketing Ideas - Now Is The Time To Prepare For The Next Wave Of Lending!

Click Here!


Personal Loans & Visa Approved At Abacus
Offering Personal Loans, Credit Cards For The Credit Impaired.


Click Here!


Mortgage Secrets For Investors
Mortgage Secrets For Real Estate Investors E-book. Stop Getting Bullied By The Banks And Start Closing Your Investor Loans!

Click Here!


Bad Credit Personal Loans Regardless Of Bad Credit - Up To $25,000
Click Here!



Sitemap



Social bookmarking
You like it? Share it!
socialize it

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Deed-Of-Trust
Email:
First Name:



Main Scottish Trust Deed sponsors


 



Newest Best Sellers


 

Welcome to Deed Of Trust Guide

 

Scottish Trust Deed Article

Thumbnail example

´╗┐Scottish Trust Deed

from: Mortgage & Debt Facts





A Scottish trust deed is a legal binding agreement that's available to Scottish citizens, which allows a trustee to deal with an individual's financial affairs. This is often used as an attempt by Scottish citizens to help get them out of debt.

It's used by individuals that have been struggling with a lot of debt. Although many confuse a Scottish trust deed with a Debt Management Plan, they are quite different. A Scottish trust deed allows you to make a formal proposal of your debts to a creditor in an attempt to clear them up and is usually done through a trustee.

When a Scottish trust deed is set up, all of your debts are consolidated into one monthly payment that is spread out over 36 months. This is paid to the creditors on a pro-rata basis.

The creditor is not the one that sets the payment amount. Several things are taken into consideration before the monthly amount is set. All of your assets and liabilities (what you own and what you owe others) is the first thing they look at when determining the terms of the Scottish trust deed.

The next thing determined is the normal and reasonable cost of living expenses without the debts. Then they determine what kind of monthly payments the debtor can make after the cost of living expenses are deducted. All of these factors are taken into consideration because they want the agreement to work for all parties involved. They also want the debtor to have a payment amount that they can reasonable make each month without falling behind on the payments.

One of the requirements that must be met for a Scottish trust deed is that it must be set up by a trustee. The trustee is an honest broker that acts in the role of an impartial middle man. Their purpose is to make sure the proposal is fair and realistic to all parties. After the final proposal is drafted, a copy is sent to all parties for final approval. If there are no objections, the Scottish trust deed is signed by all parties and becomes legal.

Once the Scottish trust deed is signed, it is considered "protected". By protected, it means the debtor is protected from the creditor harassing or contacting them. The creditor also cannot charge any more interest on the outstanding debts. The dollar amount that is determined on the trust deed is the dollar amount the debtor must pay.

If the creditor has any problems or concerns during the 36 month period, they must contact the trustee and not the debtor.

After the 36 months are up, if there are any outstanding balances, they are written off and the debtor has a clean slate financially.