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Protected Trust Deed (PTD)

  • What is a PTD?
  • How does a PTD work?
  • How do I qualify for a PTD?
  • Is a PTD right for me?
  • PTD FAQs

Home > Debt Solutions > PTD FAQs

PTD FAQs

All the answers you may need about PTDs can be found here. Although this may help you understand more about a PTD we strongly advise that you seek financial advice before entering in to any agreement – even if it isn’t from us. But we’re always happy to help.

PTD Faqs

What if my personal circumstances change during a PTD?

You will need to inform the Trustee as soon as possible about any change of circumstances.  

PTD costs

There are fees charged by the Trustee for a PTD. There are two types of fees; Initial Trustee fee and a realisation fee (percentage of the amount that is paid in to the PTD). In addition there are also related costs which are called disbursements. These include legal registration costs.

The fees will be deducted from your monthly payments. The amount you pay is based on affordability after your essential expenditure has been considered in line with the Common Financial Statement.

How does a PTD affect my credit report?

A PTD will adverse affect your credit file and your ability to obtain future credit. A PTD will stay on your credit report for six years from the date it is agreed.

How long does a PTD last?

A PTD usually lasts four years. It may last longer than this in some circumstances such as if you miss your payments. If you’re a homeowner then you may be required to release equity in your home by remortgaging.

What debts are excluded from a PTD?

Generally, unsecured debts can normally be included in a PTD. The following details debts which are excluded from a PTD. These include student loans, money owed to someone who holds a security on your property (e.g. a mortgage or secured loan), debts incurred through fraudulent activity, hire purchases and fines.

What happens to my creditors through a PTD?

When setting up a PTD your creditors can either agree or object once details to apply for it have been made publicly available. Once agreed any contact is usually managed by a Trustee. If you don’t follow the terms of the PTD then it may either be terminated or the Trustee can apply for your sequestration – or bankruptcy. Should the Trust Deed be terminated you will be liable for your outstanding unsecured debts and your creditors will be free to contact you directly.

Getting free impartial advice

The Money Advice Service is an impartial service set up by the Government.
They provide free debt counselling, debt adjustment and credit information services. Visit Money Advice Service

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Looking for friendly help and advice?

Check out our easy-to-read articles and helpful guides if you have any questions about managing your money or if there’s something you just don’t understand about your debts.

If you’d prefer to talk to someone about your debt worries, you can give a member of our team a call on 0800 048 1764 for some impartial advice.

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Signposting to services

If you're struggling with debt, you might also benefit from access to additional support services. Our signposting to services page provides details of relevant charities and other organisations that could help you.

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Gregory Pennington Limited (c) 2018. Registered office: Think Park, Mosley Road, Trafford Park, Manchester M17 1FQ. Registered in England and Wales. Co Reg No. 2855061 Authorised and regulated by the Financial Conduct Authority for its consumer credit and insurance and mortgage mediation activities. Regulated by the Claims Management Regulator in respect of regulated claims management activities.

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