Protected Trust Deed or Debt Management Plan?
The answer to this question will really be determined by the personal circumstances in each individual case, and the personal preferences of the person concerned, and what assets they have. However, in the majority of cases, a Protected Trust Deed offers significant advantages to the debt when compared to a Debt Management Plan. This is due primarily to two major factors. Firstly, the fixed term of the Protected Trust Deed being set at 36 month, with unpaid debt being written-off after the Protected Trust Deed completes, whereas with a Debt Management Plan the repayments will continue until the debt is fully repaid, however long that takes. And secondly the legal protection that a Protected Trust Deed gives when compared to the Debt Management Plan, which as an informal arrangement offers no protection what so ever.
