Yes, however, your expected write-off amount will be dependent on your individual circumstances. *The expected debt write-off figure of up to 90% is based on 5,234 Protected Trust Deeds currently administered by Trust Deed Scotland® and granted between January 2017 and September 2021.
The expected write-off % excludes the costs of administering each Protected Trust Deed (PTD). More information relating to the costs of administration can be found by clicking here.
In this sample of PTDs, the expected write-off figures range from 28% to 90%. The average (mean) expected debt write-off is 79%. The average (mode) expected debt write-off is 90%. 9% of our Trust Deed customers in this sample are expected to write-off 90% of their debt, with a 90% debt write-off being the most commonly occurring expected debt write-off.
Of the cases in this sample, 1,823 were granted since the Covid-19 pandemic took effect in 2020. The average expected debt write-off for these cases is 79%, which is the same as it is for the full sample, meaning the pandemic has not altered the expected debt write-off for individuals in PTDs.
Your decision to apply for a Protected Trust Deed should not be taken purely on a proposed debt write off amount alone. It is very rare for a Trust Deed not to be protected with Trust Deed Scotland® and we have one of the best protection rates in our industry, for example, in 2020, we achieved a protection rate of 97.9%, this made us the best performing volume provider of Protected Trust Deeds in Scotland.
Trust Deed Scotland® provide tailored debt advice on all available debt solutions in Scotland.
We make sure that our clients get personalised debt advice based on their affordability, lifestyle and needs. May not be suitable for all. Will affect credit rating.
To find out what your options are, simply complete our online form or just call us on 0141 221 0999.