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If you are experiencing financial worries and your debt simply does not seem to be going down, you may be considering entering into a formal debt solution in order to help you manage.

If you are looking at ways of better managing your money, putting together a solid budget is the best place to start. However, it can be difficult to know where to start and just how much you should be spending on certain things.

Sometimes known as a full and final offer, a debt settlement offer is where you agree to make a lump sum payment to your creditors in order to settle the remaining debt you have with them.

If you have fallen behind in your debt repayments to creditors, you may find yourself visited by a Sheriff Officer or debt collector looking to recover the money you owe.

Earnings arrestment is a form of diligence frequently taken by creditors in Scotland to recover unpaid debts. It involves taking money directly from the wages of a debtor who has failed to adequately deal with their debt.

Universal Credit is replacing a number of state benefits including Working Tax Credits. It incorporates a childcare element for people in work, regardless of the number of hours they’re working.

The Debt Arrangement Scheme, or DAS, is a debt procedure available to residents of Scotland who are struggling to repay their unsecured debts.

The Business Debt Arrangement Scheme was introduced by the Scottish government in 2014, and helps businesses run by sole traders, as well as partnerships, trusts, and unincorporated bodies, to repay debt over an extended period of time.

The Scottish Debt Arrangement Scheme, or DAS, is a debt solution that allows you to pay off unsecured debts without having to declare insolvency.

The Debt Arrangement Scheme (DAS) is a government-backed debt procedure aimed at helping Scottish residents pay off problem debt over a longer period of time than stated in their original contractual agreements.

If you are threatened with house repossession, you need to act quickly. You may be able to negotiate more time to pay – it is often the case that repossession can be stopped or temporarily halted, also offering you time to obtain professional advice.

Although credit cards can be a useful financial tool when used correctly, interest rates of between 10% and 30% make it easy for debt to spiral quickly if spending is uncontrolled.