Protected Trust Deeds (PTD)
Available to residents of Scotland
An alternative to bankruptcy, suitable for those who have a significant debt problem, usually debts of over 15 thousand pounds.
Key features:
- Lasts For a term of 3 years
- One affordable monthly payment
- Up to 75% of your Debt written off
- Interest and charges frozen
Similar to Iva’s which are available to residents of the u.k
A Protected Trust Deed is a legal arrangement which gives you Protection from your unsecured creditors by entering into an agreement with them, which is then supervised by a licensed Insolvency Practitioner.
You could have an agreed amount of your debts written off, usually after a term of 3 years.
The supervisor of the Iva, The Insolvency Practitioner is required to review your financial situation annually and advise you accordingly.
See FAQs on Protected Trust Deeds (PTD)
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