Paymex Group
Set up in 2007 to cater specifically for Scottish residents, Buchanan Roxburgh specialises in providing Protected Trust Deeds (PTDs) and Sequestration. The Insolvency Practitioner in charge of our Scottish operation has over 20 years’ experience, and our warm, friendly staff will ensure your clients receive advice of the highest quality and unparalleled customer service.
A PTD is a legal arrangement between creditors and clients who find themselves in serious debt problems and are genuinely struggling with their monthly creditor payments. It allows your client to pay back just what they can afford each month, and they are very similar in effect to IVAs. However, there are a few important differences:
Term
A PTD typically lasts 36 monthsDebt Level
The minimum debt needed is £10,000Creditors
A minimum of 3 creditors is necessary to qualify for a PTDMonthly payment
Provided your client has some assets they can draw upon, the minimum disposable income required is £200
Sequestration is the Scottish equivalent of bankruptcy, and works in much the same way. An Insolvency Practitioner employed by Buchanan Roxburgh will act as the trustee, and our staff aim to make the process as easy as possible.
In addition to assisting individuals facing financial stress, Buchanan Roxburgh also offer a wide range of solutions tailored to business debt and corporate needs.
We believe that having a dedicated team for Scotland allows us to focus on the special and complex requirements of Scots law. Your Scottish clients will benefit from the knowledge that their case is being handled by a highly professional team with specific experience of the Scottish market.
