A Protected Trust Deed is a legally binding voluntary arrangement, available only in Scotland, which is similar to an IVA and aims to resolve debt problems by offering debtors an alternative to sequestration (bankruptcy in Scotland).

In principal then, a Trust Deed is the equivalent to an IVA for Scottish residents. They do though vary slightly to IVAs in that most of them only last for 3 years, as opposed to 5.

Although considered an informal bankruptcy, a Trust Deed is still regulated by The Scottish Bankruptcy Act 1985.