Protected Trust Deed
What is a Protected Trust Deed?
A Protected Trust Deed (PTD) is a government-legislated debt solution designed to help people in Scotland who are struggling with unsecured debt. A Trust Deed is a legally binding agreement between you and your creditors, managed by a licensed Insolvency Practitioner (known as a Trustee), allowing you to consolidate your debts into one affordable monthly payment — usually over 4 years. We understand that financial difficulties can be stressful, and we are here to help you take control of your situation and move forward. If you’re finding it difficult to manage your unsecured debts or keep up with credit commitments and household bills, a Protected Trust Deed could be the right solution for you.
If you decide to proceed with a Protected Trust Deed, fees will apply. These fees are included within your affordable monthly repayment, not added on top. Protected Trust Deeds are available only to residents of Scotland. If you live in England, Wales or Northern Ireland, you may be eligible for a similar formal solution known as an Individual Voluntary Arrangement (IVA).
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May not be suitable in all circumstances. Fees apply, your credit rating may be affected.
HOW DO I KNOW IF IM ELIGBLE FOR A PROTECTED TRUST DEED?
YOU MUST BE OVER 18 YEARS OLD
YOU MUST LIVE IN SCOTLAND
YOU MUST HAVE A MINIMUM OF £5000 OR MORE IN UNSECURED DEBT
YOU MUST OWE MONEY TO ONE OR MORE CREDITORS
YOU ARE ABLE TO MAKE MONTHLY PAYMENTS OVER 4 YEARS
WHAT CAN AND CANNOT BE INCLUDED IN A PROTECTED TRUST DEED?
YOU CAN INCLUDE:
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Catalogue and store card debts
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Credit cards
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Personal loans
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Overdrafts
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Gas, electricity and water bill arrears
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Council tax arrears
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HMRC debts
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Tax credit / benefit overpayments
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Payday loans
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Hire Purchase Shortfalls
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Other unsecured debts
YOU CANNOT INCLUDE:
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Hire purchase agreements
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Debts incurred through fraud
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Court fines
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TV licence arrears
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Student loans
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Child support arrears
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Social fund loans
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Mortgages
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other secured loans
WHAT ARE THE BENEFITS AND RISKS?
BENEFITS:
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1 affordable monthly payment
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Remaining debts are written off on completion of the Trust Deed
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You are legally protected from people you owe money to
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Interest and Charges are completely frozen
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Professional support - your arrangement is managed by a licensed Insolvency practitioner, they will handle all communication with creditors
RISKS:
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If you are a homeowner with equity in your property, you may be required to produce part of your share in the final year of arrangements. If you are unable to do this, your Trust Deed could be extended for up to 1 year.
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If you have a change in circumstances and cannot pay your monthly payments, your Trust Deed could fail. Your IP should try and work with you and people you owe money to, to amend the terms of the Trust Deed, creditors may not accept the amended terms.
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If your Trust Deed fails you will be liable for the full amount of the remaining debts, minus what you have paid under the Trust Deed.
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If your Trust Deed fails the people you owe money to may take bankruptcy proceedings against you.
Our Mission
We aim to help as many people as possible in the UK resolve their debts and create financial freedom, with a happier stable life. we understand the pressure, stress and shame that can be felt through hard financial times. We are here to help you - you are not alone.