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| Protected Trust Deed (PTD) – Pros and Cons |
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| It is vital that you fully understand exactly what a Protected Trust Deed (PTD) is before you enter in to any agreements. |
| We have put a Pros and Cons list together for you, because we are finding the most common questions asked about Protected Trust Deeds (PTD) is: |
| What are the Pros and Cons of a Protected Trust deed (PTD)? |
Protected Trust Deeds (PTD) - Pros v Cons
Trust Deed - Pros
- Debt free in a set time (normally 36 months)
- Interest and charges are frozen., for the term of the trust deed
- Monthly payments are based on what you can afford (Disposable Income)
- No upfront fees
- No more creditor contact i.e. letters, phone calls, etc
- Avoid all of the stigma of bankruptcy
- Legal action and collection action will stop, by law
- Removal of the temptation to get further into debt.
Trust Deed - Cons
- In order for the Protected Trust Deed (PTD) to be agreed, you require a third in value of the unsecured creditors to vote for your Protected Trust Deed (PTD)
- Your home and assets may still be at risk
- You will not be able to use your existing credit cards, store cards or catalogues
- You will normally not be allowed to borrow any more unsecured money until you have successfully completed the protected trust deed (PTD)
- If you do not maintain your monthly payments to the Protected Trust Deed (PTD) then your creditors have no other option but to look at sequestrated (bankrupt).
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We hope this information has helped, A Protected Trust Deed (PTD) is a very good option to resolve your debt problems and become debt free. |
| Call Your Debts Cleared free on 0800 692 2000 or Take our online DEBT TEST |
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