ADVANTAGES OF A PROTECTED TRUST DEED

• You are debt free after 4 years
• your monthly debt repayments are based on your financial means, so that repayment does not affect your ability to provide for your family and your home
• you don't pay any extra costs with us - your only obligation is to repay your debts
• after 4 years your debts are written off, up to 75% of all your debts
• your creditors, debt collectors and bailiffs are forbidden to contact you and to charge you further interest, fees or collection costs
• you regain peace of mind because no one will harass you about paying your debts any more
• all bailiff and debt collection activities against you are stopped, PTD becomes your only liability at a reasonable amount
• your house, flat or car remains your property
• as a result of the whole process you regain your Credit Score
• you don't have to take out another loan to pay off your old financial obligations and therefore you don't sink further financially
• you gain control over your finances, which is the main purpose of debt settlement
• You do not have to declare expensive bankruptcy and risk having your assets auctioned off
• You escape from a 'debt spiral' (a large number of instalments, different deadlines and amounts that in total exceed your means)
• PTD instalments are carefully calculated so that they do not hinder your everyday life
• unlike bankruptcy, your PTD is not published in the press, your PAYE code remains unchanged which minimises the likelihood of your employers being aware of your financial situation

WHAT YOU NEED TO REMEMBER

• the scheme only wants to help from a total of £6,000
• the scheme is only for people who have a regular income from a contract of employment, agency contract or self employment
• the scheme is for people who have lived in Scotland for at least 12 months
• the centre of your interests must be in Scotland - you must be living here, paying tax, paying bills etc.
• The 90-95% approval rate means that it is very rare to be refused, however, it can happen. However, this does not block the possibility of reapplying
• applying for PTD to more than one agency may result in a refusal
• You must not take out any new financial commitments such as credit, loans, overdrafts, etc. during the course of the programme
• your Trust Deed does not adversely affect your rent or change of flat, nor does it adversely affect any extension of your relationship with our mobile network provider
• after all, you will be re-establishing your Credit Score
• if you stop paying, your contract may be terminated. If you have financial problems during your PTD, please contact us, we can always find a solution
• instalments of secured loans and credits (mortgage, car loan with a lien on the car) cannot be included in the arrangement - but are taken into account when determining the amount of the PTD instalment
• court fines, alimony and fines are not included in the PTD; they must be paid separately
• There must be no gambling expenses on your bank account
• If you have an account with "overdraft" and other debits, your account will be closed and you must open a new basic bank account