A protected trust deed is a voluntary but formal arrangement used in Scotland, to help individuals in personal financial crisis. It is a vehicle used to convey your assets to a trustee for the benefit of your creditors generally.

The protected trust deed is binding on all your creditors and will require you to make a contribution out of your income for a period of time, usually three years. When you agree to and enter into a protected trust deed, you will commit to:

• cooperating with the trustee
• paying an agreed monthly contribution
• not to enter into any additional credit agreements
• advise the trustee of any unexpected windfalls or changes in personal financial circumstances

At the end of your trust deed the creditors will be paid in full and final settlement of the monies owed to them and the balance will be written off. Provided you abide by the terms of the trust deed throughout its duration; creditors will be prevented from taking any further action against you in respect of those debts.

A protected trust deed is a serious step. You will be assigning certain assets in trust, and you will be committing to make payments for at least three years. It can have adverse affects on your crediting rating, and can potentially prevent you from holding certain positions within business.

HJS Recovery will discuss all the consequences of entering into a trust deed with you and we will also explore some of the alternative options that may be available to you.

Call now on 0800 0141 130 to arrange for a free confidential meeting.