Debt Advice Scotland
Debt Advice Scotland
If you are struggling with money worries it could be a good idea to seek debt advice. Scotland has slightly different rules when it comes to debt compared with other places in the UK, so make sure you are getting debt advice that is appropriate to your personal situation.
Debt advice in Scotland may cover:
- Trust Deed: the Scottish version of an IVA (individual voluntary arrangement), whereby customers agree to pay one monthly payment to creditors. Interest charges are usually frozen when the trust deed takes effect and the debt is normally cleared at the end of the agreed period – often 36 months
- Sequestration: In Scotland, bankruptcy is known as sequestration and is a course of action that is usually pursued by those who simply cannot afford to repay their debts
- Debt Management Plan: Could help you budget more effectively and ease debt pressures
There are plenty of places in the UK to get debt advice, Scotland is no exception. It is worth thinking carefully about whichever course of action you take, as some proceedings can have long-term repercussions. Click the link below if you live in Scotland and need debt advice and a specialist will contact you to discuss the best way for you to tackle your debts.