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Household Debt Rising
Household debt has risen by more than 30 per cent to an average of £13,153 over the last three years according to figures from the Citizens Advice Bureau (CAB). Read more
Tories Use Provocative Language To Tackle Debt
The Conservative party has launched an anti-debt campaign that urges young people to “ignore their inner tosser” and cut out unnecessary spending to reduce the likelihood of serious debt problems. Read more
Staying In The Driving Seat
The financial crisis at car giant Ford, which is making tens of thousands of US workers redundant, has fuelled uncertainty in the North West/West Midlands/UK automotive sector. Read more
Biggest Day Of Your Life - And The Biggest Debt
If your loved one got down on bended knee to pop the question on Valentine’s Day, your thoughts might now be turning to the big day. Read more
Bosses Urged To Help Staff
Companies should offer support schemes to employees with personal debt problems as part of flexible benefits packages. Read more
PROTECTED TRUST DEED
A Protected Trust Deed is a legal process available, only to residents in Scotland, by which a person conveys his or her estate to a Licensed Insolvency Practitioner. It offers debtors an alternative to bankruptcy.
In order for the Trust Deed to become Protected, the Trustee is required to publish a notice in the Edinburgh Gazette, which is subscribed to mainly by professional organisations.
It is normal for us to intimate the likely dividend to your creditors at this stage to allow them to make an informed judgment as to whether they should agree to your Trust Deed becoming protected. Creditors have five weeks from the date of publication in the Edinburgh Gazette to object to the Trust Deed. Objections in writing are required from a majority in number or not less than one third in value of the creditors, failing which the Trust Deed proceeds as a Protected Trust Deed ("PTD").
Download our Protected Trust Deed Fact Sheet for further information.
