How do I make my Scottish Trust Deed “Protected”?




The Trust Deed you enter into will become a Protected Trust Deed once the majority of the creditors that you owe 1/3 of your debts to agree to the Deed. Or if they fail to respond to the entry in the Edinburgh Gazette the deed also becomes protected.

A Trust Deed with a protected status simply means that your creditors will be unable to take any further steps or action against you (the debtor) to repay the full amount or force you into Sequestration (bankruptcy).

Being granted with a Protected Trust Deed is often a huge relief to the debtor, as it essentially means that the creditors have to stop pestering you with letters and phone calls aimed at forcing you to repay the money owed. However, it is worth noting that should the majority of creditors who hold more than one third of the debts, refuse to agree to the protected status, then a Protected Trust Deed cannot be granted. As a result, your creditors will be able to pursue you by all legal means.

Applying for a Scottish Trust Deed is a big step so it’s essential that appropriate advice is taken to ensure that it is the best available option.

VN:F [1.9.13_1145]
Rating: 8.5/10 (8 votes cast)
How do I make my Scottish Trust Deed "Protected"?, 8.5 out of 10 based on 8 votes



£ (UNSECURED DEBT ONLY)

(3,000 minimum to qualify)

£
£

Contact Information

(NO SPAM)

(Must be 18 or older)

By submitting your information you are agreeing to be contacted by a specialist debt advisor who will help you find the best debt solution to suit your particular circumstances.

About Trust Deed.org


TrustDeed.org was launched to help provide debt information and guidance for people living in Scotland.

We know that being heavily in debt can significantly affect your quality of life. But TrustDeed.org aims to help to relieve some of the burden by giving you the right tools and information you need to begin reducing your monthly repayments.