Protected Trust Deeds are only available for people who live in Scotland.
It offers affordability, flexibility and protection from your creditors. Should you enter into a Protected Trust Deed, you will make one monthly payment to an Insolvency Practitioner who collects your payments and negotiates the sale of any valuable assets you own, distributing the money collected to your creditors.
Benefits
- We will handle any correspondence from your creditors so pressure is taken away from you
- You repay what you can afford in one single monthly repayment
- We will negotiate with your creditors to freeze interest and penalty charges
- On completion of your Protected Trust Deed, which normally takes 3 years, you will be debt-free from the debts that were included in your Protected Trust Deed
Things you need to know
- If your wages are currently being arrested, this may continue
- You must be open and honest with us so that we make the appropriate arrangements for you
- If you fail to fulfil the terms of the Protected Trust Deed, your home and other assets may be at risk
- If you are self-employed, some restrictions may apply on your ability to trade. However, alternative arrangements may be made available in order for you to be able to trade to continue trading for future income
- A monthly administration fee is charged and is taken from your monthly contributions. The fee we charge is agreed with your creditors and will be fully explained to you before you commit to this debt solution.
For more information on protected trust deeds, read our questions and answers.