Can I freeze my interest costs?
Whenever you enter A trust that is protected deed future interest and costs would be frozen. Whenever you successfully finish the Trust Deed term, any staying personal debt will be written down.
After getting into a Trust Deed, you’ll be repaying everything you can manage to repay every month for a fixed duration.
Once you come into a financial obligation repayment Programme beneath the financial obligation Arrangement Scheme (Scotland), you may lawfully freeze the attention and costs through the debts incorporated into your DPP.
Each month for a fixed period, and should you successfully complete the agreed DPP term, you will not need to repay interest and charges like Trust Deeds, you will be paying back an agreed, affordable amount.
Does Sequestration impact my credit history?
Yes, Sequestration does impact your credit history.
Often, credit reference agencies will hold information regarding Sequestration for 6 years from the time it had been very very first provided.