Step One – our Debts Cleared will complete a full fact find with you, to determine exactly where your finances are and to see if a Protected Trust Deed (PTD) s the best option for your financial situation. If we have determine that a protect ted trust deed, is the best option for you, then we will get all the relevant paperwork out to you, to read, sign and return.

Step Two – Once you have returned your paperwork, we will pass that to the drafting department, to ensure all figures and paperwork is present and correct, you will have to have a telephone conversation with the drafter to ensure everything is in order.

Step Three – If all the information is present and correct and we are sure a protected trust deed (ptd)is the best option for you, you details will then be passed to an Insolvency Practitioner (IP) they will then write to all of your creditors to arrange your trust deed.

Step Four – The insolvency practitioner will then wait to hear from your creditors, normally 3 to 4 weeks. Your creditors will decide if a protected trust deed (ptd)is the correct option for you and in most cases they do, but if they decide it isn’t then we will look at other options for you.

Step Five – Once your protected trust deed (ptd) has been accepted by your creditors, they will holt all legal and bailiff action and stop any contact. Your creditors will also freeze and stop any charges on your accounts.

Step Six – You make your monthly payments for the term of the protected trust deed (ptd) (normally 36 months) and at the end of the term you will be debt free and any of the debt that was not paid will be written off (normally 80%).