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Are trust deeds to ease pain of debt misused?

As debt swamps the UK, growing numbers of borrowers are being offered “socially acceptable bankruptcy” by a burgeoning debt relief industry with largely unregulated fees.

 

Many people in reasonably paid jobs, and far from being insolvent, are among those being allowed to sign up for protected trust deeds (PTDs) which guarantee immunity from the people they owe money to, in return for an agreed monthly payment for three years.