- With the help of an Insolvency Practitioner (IP) you arrange repayments to your creditors over 4 years. After this any remaining debt is written off
- Once your trust deed is approved, your creditors won’t chase you for payment or add more interest and charges to your debts, and they can’t take any court action
- While you may have to sell some assets, you’re usually able to keep one essential vehicle worth less than £3,000
- Although a protected trust deed is a formal debt solution, you don’t need to appear in court