Like any debt solution, a Trust Deed comes with a number of advantages and disadvantages that must be considered before a decision is reached.
All Clear Finance can offer expert advice on 0800 048 1762 to help you decide if a Trust Deed is right for you.
Disadvantages of a Trust Deed:
- A Trust Deed will damage your credit rating.
- Failure to make repayments means that your assets are at risk and bankruptcy proceedings may start against you.
- You cannot be a director of a limited company.
- Any existing arrestments or diligences will still be effective, so it is important to fully disclose all financial information.
If you still feel unsure about how to tackle your debt problems, please try our 1 Minute Debt Wizard which will show you some of your options.
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.