Protected Trust Deeds Inquiry – Call for Views

The Scottish Parliament’s Economy, Energy and Fair Work Committee is seeking views as part of its inquiry into Protected Trust Deeds (PTDs).

Before making a submission, please read our privacy notice about submitting your views to a Committee. This tells you about how we process your personal data.

Privacy Notice

Please note that in most cases your written submission will be published on the Scottish Parliament’s website and may be quoted in the Committee’s report or in Committee meetings (which are public and broadcast).

Background

The Committee has agreed to carry out a short inquiry on Protected Trust Deeds (a bankruptcy-related statutory debt solution).

This follows on from concerns raised during its recent scrutiny of the Debt Arrangement Scheme (Scotland) Regulations 2019 (DAS).

Witnesses were concerned that PTDs were being heavily marketed and recommended to people in situations when they were not the best debt solution. One debt adviser said: “We see them being mis-sold time and time again” and the Association of British Credit Unions described them as “one of the biggest issues facing our sector over the past few years”.

The Committee’s view on DAS was that debt services should be offered on the basis of an informed understanding of the client’s financial circumstances and best interests.

The Committee wants to hear the views of people living with debt and who have experience of PTDs, as well as from debt advisers and creditors.

Remit of the inquiry

To ascertain the benefits and disbenefits of Protected Trust Deeds as a viable debt solution in the interests of people in debt and their creditors; and recommend how the Scottish Government and Accountant in Bankruptcy should proceed in any reform of the scheme. 

Questions

  • What is your experience of Protected Trust Deeds (PTDs)?
  • What are the benefits of PTDs?
  • What downside is there to PTDs?
  • Are there issues with the way PTDs are marketed and promoted to debtors? What are they?
  • Are there incentives for providers to offer PTDs – and, if so, are these appropriate?
  • Please provide any further comments you wish to provide on PTDs. 

How to Submit your views

Your response does not need to cover all the areas specified above and can just focus on those that are relevant to you or your organisation. You are also welcome to provide other information that you feel would be relevant.

Please limit your response to no more than two sides of A4, using the template provided.

[Protected Trust Deeds Inquiry - Template]

The call for written views will close on MONDAY 6 JANUARY 2020.

Before making a submission, please read our privacy notice about submitting your views to a Committee. This tells you about how we process your personal information.

Privacy notice

Please note that in most cases your written submission will be published on the Scottish Parliament’s website and may be quoted in the Committee’s report or in Committee meetings (which are public and broadcast).

Responses should be sent electronically in Word format (not PDF) to the following address: 

[email protected]

We encourage members of underrepresented groups to submit evidence. We also welcome written views in English, Gaelic, Scots or any other language. Due to the time required to process and analyse evidence, late submissions will only be accepted with the agreement of the Committee. 

Please also note that submissions with defamatory content, references to ongoing court cases or third parties’ personal information will not be published online.

If you wish to request that your submission be published without your name, please contact us ([email protected] or 0131 348 5403).

If you cannot submit electronically you may send in a hard copy written submission to:

Economy, Energy and Fair Work Committee
Room T3.40
Scottish Parliament
Edinburgh 
EH99 1SP

Please follow the Committee on Twitter (@SP_Economy) or email the Committee at [email protected] for more information

 

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