Articles

Personal Debts

How can I deal with joint debts in Scotland?

When it comes to joint debts in Scotland, it is typically the case that both individuals named on the debt are equally responsible for repaying the full amount owed. If one person can't or won't pay,...

Sequestration

What is a bank arrestment in Scotland?

A bank arrestment is a legal process in Scotland where a creditor (a company you owe money to) can freeze your bank account in order to recover a debt you owe.

Sequestration

Can I lose my home if I am sequestrated in Scotland?

In sequestration (the term for bankruptcy in Scotland), whether you lose your home depends on whether it's an asset and if you have equity in it

DAS

What happens at the end of a DAS in Scotland?

A Debt Arrangement Scheme (DAS) can complete in one of two ways, either the final monthly repayment is made as per the original arrangement, or a lump-sum payment is made in order to satisfy the outst...

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Business Debt

Self-employed debt advice in Scotland

When business debts begin to spiral out of control, action must be taken to address the root cause of the problems being faced and prevent any further losses being accrued. When a business is operated...

Personal Debts

How to clear debts in Scotland

If you are looking at ways to clear your debts in Scotland, you may be wondering whether it is possible to have some of your more unmanageable debts written off entirely.

Trust Deed

Can I include benefit overpayments in a trust deed?

Benefit overpayments – even if they were caused due to an error by the DWP – are debts that need to be paid back just like any other.

Trust Deed

How much does a Trust Deed cost?

A Trust Deed can be a great way to manage personal debts which have spiralled out of control. As part of a Trust Deed you will be asked to make a monthly contribution towards your debts which will cov...

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DAS

How long does a Debt Arrangement Scheme (DAS) last in Scotland?

Debt Arrangement Schemes do not have a fixed period. Instead, they are designed to be an affordable debt repayment option which gives individuals the time they need to clear their debts in Scotland.

Personal Debts

Can I get the interest frozen on my debts in Scotland?

When it comes to debt, one of the major problems people face is the interest which is added to the outstanding balance.

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DAS

Can I get a mortgage after a Debt Arrangement Scheme (DAS)?

If you have aspirations of buying a home but have recently been in a Debt Arrangement Scheme (DAS), the good news is that getting a mortgage after a DAS is possible. You may even be able to access a m...

Young couple sitting in the kitchen preparing bills to pay

Personal Debts

Budgeting

How can I manage my debts even with a low income?

Getting out of debt is difficult enough at the best of times, but when you’re on a low income, it can feel like an uphill battle.