Protected Trust Deed Frequently Asked Questions

A Protected Trust Deed (PTD) is a formal, legally-binding agreement between you and your creditors in Scotland, administered by a licensed Insolvency Practitioner. You repay what you can afford over 48 months, after which any remaining qualifying debt is written off. Read the full guide ->

A Protected Trust Deed is generally less restrictive than sequestration. You can usually keep your home and bank accounts, and it is often considered less severe on your financial record. Read the full guide ->

A Trust Deed is recorded on the Register of Insolvencies, a public register. Most employers do not routinely check it, but certain professions in finance, law, or the public sector may have specific rules. Read the full guide ->

Most unsecured debts can be included: credit cards, personal loans, overdrafts, store cards, catalogue debts, and payday loans. Student loans, child maintenance, court fines, and secured debts like mortgages cannot be included. Read the full guide ->

If you are a homeowner, you may need to release equity in your home, usually in the final year. If there is little or no equity, this may not be required. You will not be forced to sell your home in most cases. Read the full guide ->

Creditors have 5 weeks to respond. If the majority by value do not object, the Trust Deed becomes protected and is binding on all creditors - even those who did not agree. Read the full guide ->

A typical Protected Trust Deed lasts 48 months (4 years). In some cases this may be extended if equity needs to be released from your home. After the term, any remaining included debt is written off. Read the full guide ->

Yes, a Protected Trust Deed will remain on your credit file for 6 years from the start date. Rebuilding credit after completion is very achievable. Read the full guide ->