Protected Trust Deed – PTD

A Protected Trust Deed, overseen by the Accountant in Bankruptcy, is a voluntary but formal arrangement that is used by Scottish residents where a debtor (who can be a natural person or partnership) grants a trust deed in favour of the trustee which transfers their estate to the trustee for the benefit of creditors. This is commonly viewed as the Scottish version of an IVA however A PTD is usually 48 months long as apposed to 60.