Debt report banner

I’m worried that I will be made unemployed when furlough ends

  • Sharon McDougall -
  • 25th May 2021 -
  • 2 minutes to read

Personal debt support for employees in Scotland after Coronavirus Job Retention Scheme ends

Even though furlough has been extended until the end of September 2021 to further protect jobs, the unpredictable nature of coronavirus and potential for new variants, means the future remains very uncertain.

So if you’re worried that you’ll be made unemployed when furlough ends, what can you do to prepare, and protect yourself from unmanageable financial problems? Initially, it’s important to know the options that might be available should you need assistance.

This includes guidance on paying off your debts, but also the various forms of state support you could receive. Universal Credit is very well known, but there are other benefits and help that you may not have considered.

PACE redundancy support for people in Scotland

PACE, or Partnership Action for Continuing Employment, helps people who have been made redundant or who are facing redundancy. There are PACE teams operating throughout Scotland, so wherever you live you’ll have local access to help, including:

  • Skills training
  • Seminars on various job-related issues, including CV writing and self-employment opportunities
  • Online services
  • Support from Job Centre Plus
  • Information packs

PACE support is free, and you can access guidance on your rights and statutory entitlements in relation to redundancy, as well as interview preparation, money management, and the state benefits that might be available to you.

State support and grants if you’re made unemployed after furlough

These are just a few of the grants and financial support available to people in Scotland:

  • Crisis Grant if you have mortgage/rent or other priority bills due – this is available through the Scottish Welfare Fund
  • Housing Benefit – if you rent your home, whether you’re a private or local authority tenant, housing benefit can help you pay all or part of your rent
  • Universal Credit – if you’re eligible, in Scotland you can choose to be paid Universal Credit twice a month rather than once a month. You can also request the housing element to be paid directly to your landlord if you rent your home.

Various formal debt solutions also exist in Scotland, which can help if you’re made unemployed when furlough ends and are worried about debt.

Debt Arrangement Scheme (DAS)

This is a flexible debt programme that could be appropriate if your debts exceed £5,000. DAS enables you to repay your debts in full, but over a longer time period - this is important as it means you don’t have to declare full insolvency. The Debt Arrangement Scheme relies on having a regular income, but if you’re made unemployed when furlough ends and are able to find another job, DAS could be a suitable option for you.

Scottish Trust Deed

A Scottish Trust Deed involves paying a proportion of the debts you owe, usually over a period of four years. Depending on your circumstances you may be able to write off up to 90% of your debts, which can include council tax arrears and rent arrears.

Sequestration

Sequestration is the Scottish term for bankruptcy and involves handing over your assets to a Trustee, who sells them at auction in partial repayment for creditors. If you believe you won’t be able to repay any of your debts, sequestration can offer a fresh financial start.

Scotland Debt Solutions can provide further information and advice if you’re worried that you’ll be made unemployed when furlough ends. We’re insolvency specialists and have been helping Scottish residents to escape debt since 1989. Please get in touch with one of the team to arrange a free, same-day consultation - we work from offices around Scotland.

Sharon McDougall
Sharon McDougall
Manager
About

Why Choose Us

Speak Direct With
Speak Direct With
A Qualified Adviser
We Don't Operate
We Don't Operate
Call Centres
5 Offices in Scotland
5 Offices in Scotland
National Coverage
Ask us About
Ask us About
Free Home Visits
Fully Regulated Advisors
Fully Regulated Advisors
From a Reputable Firm
Helping Scots Get
Helping Scots Get
Out of Debt Since 1989

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

When should we call?
Can we leave a message?
Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.
Tools

Useful Tools

Personalised Debt Report

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Free Scheduled Call

Free Scheduled Call

 Arrange a call with an expert advisor at a time to suit you.

Find a Local Office

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

OUR SERVICES

We can help you with...

Sequestration

Sequestration

Sequestration is the Scottish version of bankruptcy and may be suitable for you if you do not have the money to pay back your debts

Trust Deed Scotland

Trust Deed Scotland

A Trust Deed involves making a monthly contribution to your debts for up to four years. After this time any remaining debt will be wiped out.

Debt Arrangement Scheme (DAS)

Debt Arrangement Scheme (DAS)

A Debt Arrangement Scheme (DAS) lets you pay off your debt through a series of manageable instalments over a reasonable length of time.

Business Debts

Business Debts

Whether you are a sole trader or a limited company director, we can help you work through your current financial problems including money owed to HMRC

Close Menu Share with a Friend

Send this page to a friend

via Whatsapp via Messenger via Messenger via Email
Make sure you have WhatsApp installed.

Copy link to clipboard
Close
Edit this Page