A Protected Trust Deed (PTD) is a personal debt tool offered to individuals in Scotland. On the face of it, it allows people to write off a portion of their debt and only pay back what they are to over a set period.

Unfortunately, while thousands of people sign up to PTDs every year, a large number end up failing, which often results in the debt-laden person owing more than they did before they signed their PTD.

Of the 6,941 PTDs finished last year, approximately 1,000 were failures, which represents a failure rate of 15 percent. However, performance between firms varied hugely and, as we mentioned above, one firm’s failure rate reached an eye-watering 88 percent, something later described by one industry body as “appalling”.



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