Protected Trust Deeds (PTD)

A Protected Trust Deed (PTD) is a formal agreement between an individual in financial difficulty and their creditors in Scotland. It allows the individual to repay a portion of their debts over a set period, usually four years, after which remaining debts are wiped out. The deed is legally binding, meaning creditors cannot pursue further action once it is in effect. To qualify, you must have unsecured debts and a stable income. A licensed insolvency practitioner manages the PTD, ensuring repayments are fair and helping guide individuals towards financial recovery while protecting them from legal actions.