How long does it take to have a Protected Trust Deed signed?
A Trust Deed can be advised after about 15 minutes. The initial signing of a Trust Deed can be done within a matter of days. Once a Trust Deed has been advised and you wish to proceed, a home visit will be conducted to clearly explain the procedure. You will be under no obligation to sign the Trust Deed at this point. An advert will be placed in the Edinburgh Gazette which is read by banks and financial Institutions. If no more than 1/3rd in value or a majority in number of your creditors object to the terms proposed, then your Trust Deed becomes “Protected”. This would mean that all of your creditors can no longer take action to recover their money.
