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Debt free in four years
Debt free in four years
Stop creditors harassing you
Pay only what you can afford
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A Protected Trust Deed is a legal process accessible only to residents in UK and it offers debtors an alternative to bankruptcy. A Trust Deed enables those who are unable to repay their debts a way of establishing a monthly repayment schedule based on what the debtor can afford to pay. The Trust Deed will last for a specified period which is usually four years. When this specified term of the arrangement comes to an end, any remaining unsecured debts are usually written off.
Your protected trust deed is supervised by a licensed insolvency practitioner. The practitioner is responsible for all negotiations with your creditors and also for ensuring that you keep to the terms of the Trust Deed. For the Trust Deed to become Protected, creditors with no more than 50% in numbers or 33% of debt total shall object to the proposal.. If this is not the case, the Trust Deed becomes ‘Protected’, and as such legally binding on all creditors whether they initially objected or not, and all future interest charges must be frozen.
We work closely with UK Trust Deed experts Knightsbridge Insolvency Service. By choosing a UK Trust Deed they can look at reducing your debts into one lower monthly repayment and leaving you writing off the unsecured debts that you cannot afford usually in just 48 months.
