What is the difference between IVAS and trust deeds?

IVAS and trust deed have a lot of similarities. However, there are a few things that make them different. If you have a difficult time telling the difference, then read on to find out. Below are some of the things that make these two debt solutions different. It will help you to differentiate between the two.


IVAS and trust deed in with regards to the time that each takes to repay the loan. For the trust deed, you will be given 4 years to clear your debt while for the individual voluntary agreement (IVAS) you will have 5 years to pay off your debt. This gives you enough time to repay the loan.

Countries covered

The trust deed is meant for those who live in Scotland. This includes those who have stayed in Scotland for a period of 6 months. The IVAS on the other hand is meant for those who live in England, Wales and Northern Ireland.

Unsecure debt amount

For you to qualify for the trust deed you are required to have unsecured debts of at least 10,000 pounds. You will need to have unsecured debts at least 15,000 pounds to qualify for the Individual Voluntary arrangements.

The other difference between the two debt solutions is that the trusts deed is usually published once it becomes protected. It is published in the Edinburgh gazette. The IVAS is usually not published in any gazette.

These are the differences that the two debt solutions have. However, you should make sure that you get professional advice to determine the solution that is best suited for you. You can get advice from Debt Advisory Scotland. You will be able to make the decision that is appropriate. Choose the best solution and you will be able to clear your debt within the time frame that is required.