Protected Trust Deed Scotland

loumt · 5 May 2010 at 10:53AM

Has anyone got experience of one of these?

It is something we are considering as we have nearly £50k unsecured debt (bad I know) and don't want to lose our house.

Just wanted to know if there was anyone out there is well into the process that can offer any tips or advice.

debrag · 5 May 2010 at 10:57AM

loumt wrote: »

Has anyone got experience of one of these?

It is something we are considering as we have nearly £50k unsecured debt (bad I know) and don't want to lose our house.

Just wanted to know if there was anyone out there is well into the process that can offer any tips or advice.

debt has to be under £15k with only £50 surplus a month.

Tixy · 5 May 2010 at 11:02AM

loumt wrote: »

Has anyone got experience of one of these?

It is something we are considering as we have nearly £50k unsecured debt (bad I know) and don't want to lose our house.

Just wanted to know if there was anyone out there is well into the process that can offer any tips or advice.

If your house is owned then I think it will have to become part of the trust deed - national debtline scotland site might be useful to you http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=21_trust_deeds

There is no £15k limit on a protected trust deed.

loumt · 5 May 2010 at 11:02AM

Thanks but this is protected trust deed which is over 3 years one step away from bankrupt! so not a debt order. Basically will not be allowed to have any unsecured debt(credit cards, overdraft etc) for 3 years.

Protected Trust Deed Scotland

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