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What is a Trust Deed?
Trust Deeds (Scotland only)
The Protected Trust Deed is offered only in Scotland as is similar to the Individual Voluntary Arrangement -IVA. It is a legally governed procedure by which you can repay your debt over a specified period of time (usually 36 months). Monthly payments are based on what you can afford and after the period of your Protected Trust Deed, any remaining debt is written off.
Will my Home be affected?
If you enter into a Protected Trust Deed -PTD you may have to release any equity out of your property, but this is not a guarantee,
your chosen Company will cover this with you.
How long will I be in the Protected Trust Deeds - PTD?
The Protected Trust Deed will last for a maximum of 3 years (36 Months).
Some Protected Trust Deeds - PTS may last for less than 3 years depending on individual financial circumstances.
What Happens after I have completed my Protected Trust Deed - PTD?
Your Debt will be written off and you will be completely debt free at the end of your Protected Trust Deed
Will a Protected Trust Deed affect my employment or professional status?
No, a Protected Trust Deed is an arrangement for responsible people who want to deal with their debt problem, and as such you will not prejudice your employment.
Can anyone find out that I'm in a Protected Trust Deed - PTD?
A Protected Trust Deed - PTD is very confidential. Only The UK insolvency Helpline and your creditors will be aware of your position.
Will I be Protected Trust Deed Protect me from further recovery action, charges and interest?
Yes a Protected Trust Deed - PTD will prevent any further action, including the addition of charges, and all interest will be frozen.
How long does it take to set up a Protected Trust deed - PTD?
It normally takes about 4 - 6 Weeks but each Debt company is different, some are quicker than others.
How long does it take to set up a Protected Trust deed - PTD?
Can a Protected Trust Deed - PTD be cancelled?
No, unlike a debt management plan
a Protected Trust Deed cannot be cancelled by yourself.
Which debt solution is the best option for you?
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