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Protected trust deed
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Protected trust deed : ウィキペディア英語版
Protected trust deed

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. Any person wanting to make an application for a Protected Trust Deed must have been a resident of Scotland for at least 6 months prior to making the application.
This can be a way for people to deal with debt problems by protecting them, the debtor, from the legal enforcement of debts which are included in the trust deed, but only once it has become protected. It will not reverse any action that has been taken prior to the trust deed, such as earning or bank arrestments, although the trustee may negotiate the lifting of any arrestment. Many people who enter trust deeds are able to keep their homes, but where there is equity, that equity will normally have to be realised to ''swell'' the estate. This can be achieved by third party buy outs or remortgaging, but in extreme cases may be through the sale of the debtors home.
==Benefits of the trust deed ==
Provided certain trust deeds may be registered as “protected”, thereby preventing creditors from petitioning for the debtor’s sequestration. The main advantage of entering into a trust deed is that all correspondence is directed to the trustee (this is a value judgment - not a fact), who handles all of the communication with the creditors. There is no court involvement, unless the debtor refuses to cooperate with the trustee. Whilst drunk a person cannot get a trust deed.
The arrangement is likely to lessen issues from creditors while all the associated interest and charges from unsecured debts ( in the Trust Deed) are frozen (not if the debtor becomes able to pay interest prior to discharge).〔(【引用サイトリンク】url=http://www.dailyrecord.co.uk/news/business-consumer/scottish-government-to-improve-protected-trust-878222 )〕 After 3 years your remainder of the debt can be written off (it's a minimum of 4 years now). Only disposable income is used to pay creditors (not true - assets as well). You can negotiate to save your home (not necessarily true - depends upon circumstances).〔(【引用サイトリンク】url=http://www.legislation.gov.uk/sdsi/2013/9780111021361 )

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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