Getting help with debt. All it takes is a quick chat to get started.
If you owe | £7,980 |
|---|---|
You might be paying | £290 per month |
You could be paying | £95 per month |
This could save you | £195 per month |
A Protected Trust Deed (PTD) is a legally binding agreement between you and the companies you owe money to. This agreement protects your assets, such as your house and your car, from any legal action made by your unsecured creditors. This solution allows you to pay off as much as you can reasonably afford to do so within a set timeframe (normally 4 years). Whatever debt that remains at the end of this period is written off.
Benefits
- You will no longer be chased by people you owe money to due to non payment
- You can see an end to your current debt
- You only pay what is affordable
- You will be free of your current debt in 4 years (48 months) even though debt not paid in full
- No one can raise any other action against you
- You may be able to protect property if you are a homeowner
Other considerations
- The PTD is noted on your credit file
- You may have difficulty in obtaining additional credit during and after the PTD is completed
- This could impact any mortgage application you may make in the future
- Fees – There are no setup fees for a PTD and all administration fees are included in your monthly payments
- If you fail to maintain your monthly payments or adhere to the terms and conditions of your PTD this could result in Sequestration
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