What Is A Protected Trust Deed?

MANCHESTER, U.K. - May 17, 2018 - PRLog -- A protected trust deed (PTD) is a legally-binding debt solution that was created specifically for people living in Scotland. It was created by the Scottish government to help people who are struggling to repay unsecured debts at the rate originally agreed. You simply make one affordable monthly payment to us, which we distribute amongst all of the agreed creditors for four years. After this period, any remaining debt is simply written off, leaving you debt free!

As with all debt solutions, there are pros and cons to protected trust deeds, this is why you need to talk to our expert trust deed advisers who can look at your specific set of circumstances and discuss the best solution for you.

The main advantage of a trust deed are that it is a legally-binding agreement, which means that any further interest or charges will be frozen (which means the sooner you contact us, the less you pay back), your creditors must stop chasing you for payment - providing that much needed relief from the the stress that debt can bring - and, the best part, after four years, anything that remains of your debt can be legally written off!

On the negative side, it is only available to residents of Scotland (although if you are based elsewhere in the UK an individual voluntary arrangement is similar), your credit rating will be affected for six years, however if you are in the position that a protected trust deed is suitable, your credit rating isn't likely to be exemplary in the first place, and after six years you are in a great place to begin building it up again. The last two cons are having an effect on your job and equity release in your home, and these depend wholly upon your individual circumstances and you should talk to our advisers about this.

What To Do Next?
You have read this far, so you are ready. You don't need to unblock all of the numbers and you still don't need to answer unknown number calls. But be realistic, the problem won't go away by simply ignoring it. Open all the letters you have been avoiding, if you still have them hidden away somewhere. You need to know exactly what you owe and to who. Then get on the phone to us (0800 029 3992). We will listen to your problem and then suggest a solution. You have no obligation to use our services and we may even suggest using different companies if we believe it will be in your best interest. Everything will be fully explained to you before you agree to anything. Depending upon the solution agreed, you can begin to relax. We will do all of the hard work. You will start repaying your debts, your creditors wills top chasing you, you can stop worrying every time your phone rings or there's an unexpected knock at the door.

We know from experience that a lot of people contact us several times before admitting they need our help. These people contact us then get scared when we call back and come up with many different reasons why they definitely didn't fill out all of their details, and they definitely don't require debt help. Then a few months later, they find themselves in further debt and they contact us again for help. This time they have no option but to talk to us and they find that it's not so difficult after all, and that it actually helps and wish they had talked to us the first time.

Find out more here:
https://debtassist.co.uk/debt-solutions/protected-trust-d...