A trust deed is formally applicable only in Scotland. To be entitled a trust deed, you must meet the following points: You have to be living in Scotland for at least 6 to 12 months. Your total unsecured debt value should be no less than £5,000.  You have a regular income source to afford monthly recurring payments to cover the debt. You have to have sufficient disposable income at hand even after repaying the debt money. You have to be insolvent. That is, if you own assets or property, their total value must be less than your total debt value.  You should not have had any bankruptcy record in the past five years.