Do you need a Scottish Protected Trust Deed?
Are you a Scottish resident? Have over £5,000 of unsecured debt? Willing to pay a small percentage of your debts back to be debt free in just 48 months?
A Scottish Protected Trust Deed could be for you!
- There is no set up fees!
- Freezes interest & charges!
- Legally binding so creditors can’t back out!
- Stops all contact from your creditors!
- Stops wage arrestments or bank arrestments!
- Writes off up to 75% of your debt!
- Can include debts from your local council, rent arrears, DWP & HMRC!
- Can be debt free in four years!
- Keep your home & car
- Comes off your credit file latest six years from starting!
Please note like any debt solution in Scotland this may effect your credit file, once an enquiry has been made an authorised & regulated firm will be in touch to ensure you are advised correctly.
A Scottish Protected Scottish Trust Deed (shortened often to PTD), is a piece of personal legislation facilitated by the Scottish government and aids in managing problematic debt. However, it is vastly different than traditional bankruptcy. It is a voluntary procedure and lets you handle your debts through a licensed insolvency practitioner (Trustee). You usually take this step when you are unable to pay your debts on time or within a required or reasonable amount of time. A Scottish Protected Trust deed is mandatory on your creditors this implies that as long as you follow and keep the terms of your trust deed then the creditors do not hold any kind of power over you to take any money or arrest your earnings. Furthermore, they cannot even petition for Sequestration whilst you are under the protection of a Protected Trust Deed in Scotland. This makes it very different from an ordinary Trust Deed which is not mandatory or binding in any way on your creditors. At the time of presentation of your Trust deed, your proposal should be at least half or one-third of the number of creditor objects, otherwise, the Deed will not have protected status.
The period of this kind of free debt help in Scotland is usually four years. During these four years, you can make a debt consolidation by making subsidized payments over the years. Usually, by the end of four years, the debt is paid off. A protected trust deed is a kind of insolvency, so in this case, the number of unsecured debts should be greater than your assets which includes home and vehicles that you own. Furthermore, credit cards debts, store issued cards, as well as personal loans, are also parts of the assets. However, the thing to be remembered here is that they are available to you only if you are a permanent and legal resident of Scotland.