A Protected Trust Deed, often known as a TD or PTD is a solution that is exclusively available in Scotland and was adevelopment by Government Legislation to help people struggling with debt to find a lasting solution to their financial difficulty.
If you qualify for a TD you would make an affordable monthly repayment, for typically 3 years. Once the 3 years are completed, the TD ends and the debt included and not repaid is written off. This can be as much as 85% of your debt.
Trust Deeds can be a great way of dealing with debt but like all debt solutions, there are upsides and downsides that require careful consideration.
- Write off debtAs much as 80%
- Reduce monthly repaymentsAlways affordable
- Freeze interest and chargesSo your debt stops getting any bigger