Almost everyone has some form of debt, be it money owed on a credit card, a bank loan or overdraft, or a mortgage. But if you are having trouble paying your bills or loan repayments, you should get help as soon as possible. Here are some useful tips to help you.
A Protected Trust Deed (PTD) is designed to enable those who cannot repay their debts a way to establish, a monthly repayment schedule based on what the debtor can afford to pay. The Protected Trust Deed (PTD) will last for a specified period, usually three years. When the specified term of the arrangement comes to an end, any remaining debts are written off.
A Protected Trust Deed (PTD) is designed to enable those who cannot repay their debts a way to establish, a monthly repayment schedule based on what the debtor can afford to pay. The Protected Trust Deed (PTD) will last for a specified period, usually three years. When the specified term of the arrangement comes to an end, any remaining debts are written off.
The Trust Protected Deed (PTD) is a way for people to repay their debt at a set monthly figure until the agreement has finished, Agreements normally last 3 years. The Protected Trust Deed is supervised by a licensed insolvency practitioner, who is responsible for all negotiations with your creditors and who is also responsible for ensuring that you keep to the terms of the Trust Deed.
Steps to setting up a Protected Trust Deed (PTD)
Step One – One of our experienced Debt Advisors will complete a full fact find to determine exactly how much you can afford to pay towards your Protected Trust Deed (PTD) and they will see if a Protected Trust Deed (PTD) is the best debt solution for you.
Step Two – Once we know that a Protected Trust Deed (PTD) is the best debt solution for you, we will collate all information and get all the paperwork for you to read and sign, it must be returned asap so the Protected Trust Deed (PTD) process can start.
Step Three – Once you have returned all the relevant signed documentation, an insolvency practitioner will look at you case and start putting together your Protected Trust Deed (PTD) proposal. Once you Protected Trust Deed (PTD) has been accepted, you will start to make monthly contributions for a set period of time (normally 36 months).
Step Four – on your 36th Protected Trust Deed (PTD) payment, you will be discharged and totally debt free.
