Protected Trust Deed

A Protected Trust Deed is a legally binding agreement in Scotland designed to help individuals struggling with debt. It involves the debtor transferring their assets to a trustee, who manages repayments to creditors over a set period, usually four years. During this time, creditors cannot take further legal action to recover debts. At the end of the agreement, any remaining unsecured debts are written off. This process provides a structured way for individuals to manage their financial difficulties while offering some protection from creditors.