A Protected Trust
Deed is a way of establishing a repayment plan every month based on
the ability to pay after normal household bills have been met. It usually
lasts for three years, although sometimes this can be reduced, and when
the term comes to an end any remaining debt is written off.
To apply for a Protected
Trust Deed quote, use our quick online service via the web form below.
Our service is independent therefore impartial. A Protected Trust Deed
is the Scottish equivalent of an Individual Voluntary Arrangement (IVA)
which has become popular in the rest of the UK as a solution to personal
insolvency which carries none of bankruptcy's stigma or the burden of
sequestration.
A Protected Trust
Deed is also cheaper and more flexible than arranging a bankruptcy.
Furthermore, details of this are not published (unlike bankruptcy cases),
so that personal information about your financial standing is not made
widely known by being held up to public scrutiny. Everything is kept
completely secret.
A Trust Deed is
registered as a “Protected” in that its protected status
means that creditors may not take legal action against the debtor client
. It also ensures that any interest in delinquent accounts is frozen
from the date the Deed is put into force. Once a Protected Trust Deed
is put into force there is no need to worry about being contacted by
creditors; they will not be able to take any legal action against you.
It should have no effect on your job or career (unlike bankruptcy, which
obliges bankrupts to resign directorships of companies automatically
and be barred from holding directorships for a fixed term in the future).
However, not everyone
qualifies for a Protected Trust Deed. To find out if you do fill out
the quick online application form below.
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