How long does it take to set up a Protected Trust Deed?
The initial application process can be extremely quick. Drafting the Trust Deed itself can take quite literally a few hours, but in the majority of cases, due to the gathering of essential information by the Insolvency Practitioner, it is more likely a Trust Deed will be ready for signing within a week after the first contact call for help. There is then a further period of 5 weeks to wait before the Trust Deed reaches its ‘Protected’ status. It is after this happens that the agreement becomes legally binding, and offers the debtor legal protection from his creditors.
