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When looking for a financial product that will help debt advice scotland you with your current financial situation, there are certain options which apply to particular countries only. For example, if you are in a serious financial bind and you need to eliminate your debts, you need a debt settlement arrangement if you're from the US, an Individual Voluntary Arrangement if you're from the UK, or a trust deed if you're from Scotland. Here, we will discover more about debt help scotland trust deeds and how they can be used to help manage your finances if you're from Scotland. First, what exactly is a trust deed? Anybody who has encountered financial difficulties in the past might be looking for Scottish debt advice - and this could be the first option that you will encounter. Also known as a protected trust deed, a trust deed is a financial product which is available only in Scotland. It is a legally binding, voluntary instrument which can be used as an alternative option for those who are considering filing for bankruptcy. Think of it as the Scottish equivalent to the UK's IVA or the debt settlement arrangements available for US residents. Being only available in Scotland, most people who are looking for Scottish debt advice are usually glad to know that there is a financial alternative for them to consider when they are almost forced to file for bankruptcies. To give you an idea about why individuals and entrepreneurs looking for Scottish debt advice should primarily consider trust deeds, here is a list of its benefits: