What is a Trust Deed? | Debt Solutions | ScotlandA Protected Trust Deed (PTD) is a legally binding arrangement drawn up between you and your creditors, available only to residents in Scotland, in which you agree to pay your creditors back a percentage of your total debts, depending on what you can afford.
"You can not afford to pay your debts"By signing a Trust Deed you are basically saying that you cannot afford to pay your debts. It differs from many other financial solutions in that it is much more flexible and affordable and it also provides protection from your creditors. It is designed to enable those who cannot afford to repay their debts a way to establish a monthly repayment schedule based on what you can actually afford. The payment is collected each month by your Insolvency Practitioner who in turn deals with your creditor queries and distributes the money to the creditors on your behalf. A Trust Deed usually lasts for a period of 3 years, at the end of which any remaining debts are effectively written off leaving you completely DEBT FREE. This means that a percentage of your debts will be cleared . Remember, a little bit of advice can go a long way. Contact us to see what options are available to YOU. We can help with any amount of debt, small or large. Our advice is free and, if your circumstances suggest that a debt management plan is your best option, we will propose an informal arrangement with your creditors to pay your debts. To find out more, call us free on 0800 043 0200 and speak to one of our friendly advisers or fill in the "Callback request" form on this page. You can also Apply online now. Frequently Asked QuestionsSee our Frequently Asked Questions (FAQ) about Trust Deeds. Get assistance from our friendly and understanding experts - Aidan, Charmaine, Donna, Gemma and Olivia. Click here to chat with them now
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