Protected Trust Deeds
A Trust Deed is a solution to debt and a real alternative to bankruptcy. Basically it is an arrangement between you and your creditors, usually over three years. At the end of a Trust Deed the balance of any unpaid debts is written off.
Under legislation, once protected a Trust Deed is legally binding on all your unsecured creditors. The terms of your Trust Deed are tailored to your own personal circumstances.
We’ll liase with your insolvency practioner and help prepare your proposals and deal with your creditors. If your creditors do not object, the Trust Deed will become protected – that means your creditors are prevented from taking any further action as long as you keep to the agreement and you’ll be debt free, normally in 36 months.
- Be debt free in 36 months or sooner
- Only pay what you can afford
- Freeze interest and charges
- Stop all further communication & action from creditors