Protected Trust Deed Review 2009

The Bankruptcy and Diligence etc. (Scotland) Act 2007 introduced the modification of provisions relating to Protected Trust Deeds (PTDs) and extended the supervisory functions of the Accountant in Bankruptcy (AiB) to include trustees under PTDs.

A commitment was made that the AiB would carry out an overall review of PTDs following the changes, and that information on debts within PTDs would be collated as part of this review. The scope of the review has been extended to examine the impact of PTDs on Credit Unions.

The report concludes that PTDs can be an effective debt relief mechanism for some people; that the AiB is able to effectively supervise PTDs, and that greater creditor involvement may improve returns. Another finding contained within the review was that Credit Union debt represents only a small proportion of overall PTD debt.

A copy of this PTD Review Report is available in the Trust Deed section of this website.