Living In Scotland? Need to Get Out of Debt? Is a Protected Trust Deed What You Need?

We Are Large Debt Specialists & May Be Able to Legally Cease Creditors Chasing For Payments & Freeze All Interest & Charges Now. Why Not Speak to one of our friendly team..

*Debts of under £6000 do not qualify

Alternatively why not complete our online form to see if you qualify

Scottish Trust Deeds

What is a protected trust deed?

A Protected Trust Deed (PTD) is an agreement that is made with your creditors to pay off your debts over a set period of time and is one option you can use to pay off your debts. It is a formal, legal debt solution. This means it is approved by the court and your creditors have to stick to it.

A PTD is a form of insolvency but it is different from sequestration.

A PTD must be set up by a qualified person, called an insolvency practitioner. This will usually be a lawyer or accountant. The insolvency practitioner will charge a fee for the PTD.

The insolvency practitioner deals with your creditors throughout the life of the PTD.

Pro’s & Cons of a Protected Trust Deed

What are the pro’s of a Protected Trust Deed?

Freeze interest and charges from your creditors
Ceases any legal action
Government backed scheme
Legally stops creditor contact
No set up fees, no management fees
Up to 85% of your debts written off

But what are the con’s?

If you are homeowner and you have equity in your property you may not be eligible for a PTD
If you come in to any money or your circumstances improve the extra income is expected to be paid to the PTD pronto
You cannot cancel an PTD it is legally binding
If you don’t keep up your PTD it could lead to sequestration, (lots mair bother)
Secured debt is not included

So assuming you are confident that you can stick to the PTD and that you owe over £6000,
lets see if you qualify and get you back in control