Barrister Lloyd Debt Solutions

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“I was struggling to pay off £53,000 in credit cards and bank loans. I realised i couldnt cope and needed help, I didn't know where to turn. I didn't want another loan - that's what got me in this mess in the first place. Barrister Lloyd were great in helping me get back in control of my finances, Im now paying alot less every month and will be debt free in 5 years.”

Miss Houghton, Hull

“Barrister Lloyd reduced my monthly payments by over £500 a month, there's now more money left to spend on myself and my family, we can enjoy life again”

Mr & Mrs Hargan

A Protected Trust Deed is a legal process available only to residents in Scotland which offers debtors an alternative to bankruptcy

It is designed to help people repay their debts by establishing a monthly repayment schedule based on what the debtor can afford to pay. The Trust Deed 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.

How does a Trust Deed work?

The Trust Deed 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. Your 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.

Advantages of a Protected Trust Deed

	All your unsecured debts consolidated into ONE affordable payment.
	Once your trust deed is signed, telephone calls and letters from your creditors will stop.
	Interest and charges are stopped, so that spiral of debt is halted.
	There is no court appearance required.
	A Protected Trust Deed is usually more flexible and costs less to administer than sequestration (bankruptcy).
	With a Protected Trust Deed, your creditors will be unable to add further interest, charges, or take any further action against you.
	You will in most cases still be able to hold certain public offices.
	You will in most cases still be able to remain self-employed and continue to serve as a director of a company.
	Protected Trust Deeds normally last 3 years, after which any remaining debt will effectively be written off.
	The trustee handles all correspondence from creditors, therefore relieving the pressure of debt.
	Information about the Protected Trust Deed is not published unlike sequestration (bankruptcy).

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