IVA in Scotland

An IVA is only available in England, Wales and Northern Ireland, and is not only available to Scottish residents.

However, there is a piece of Scottish legislation which offers a similar alternative which is known as a Protected Trust Deed.

What are the Differences between a Trust Deed and an IVA?

Both a Trust Deed and an IVA are legally binding contracts between the debtor and their creditors. Both are suitable for insolvent debtors who wish to avoid bankruptcy.

However there are differences between the two; a Trust Deed lasts for an average of 36 months whereas an IVA lasts for an average of 60 months. But both of these agreements allow any remaining debt to be written off at the end of the term.

For more information, please see our Trust Deed Page or contact AllClear Finance today on 0800 048 1762.

All Clear Finance is a trading style of Ask Finance Ltd (Registered in England and Wales. Company number 4229724), a wholly owned company of the Harrington Brooks Group Ltd. Ask Finance Ltd is licensed under the 1974 Consumer Credit Act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance Ltd is authorised and regulated by the Financial Services Authority - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.

IVA in Scotland

Note: Advice is free, but fees are charged should we provide you with a debt solution.

Call AllClear Finance on 0800 048 1762