Personal Debt

Are personal debts in Scotland written off after six years? What is statute-barred debt? When is Scottish debt unenforceable? Find out more in this article.

Full and final settlements involve paying a pre-agreed sum to your creditor that ends the contract, but there are advantages/disadvantages to consider.

A County Court Judgment (CCJ) in Scotland is called a decree. So what is a decree and can you challenge one? And what does it mean for your credit rating?

Paying off debt can be an exhausting task but for individuals in Scotland, there are Scottish support systems & steps you can take to become debt-free in 2021.

When you’re struggling to repay debt it’s difficult to know how to deal with debt collectors, particularly if they take an aggressive approach. Find out more.

Buy-now pay-later is a type of credit that offers a deferred period during which you don’t have to make any payments. This could be for a month or longer – sometimes the first payment on an item is deferred for as long as 12 months.

When you’re in serious debt and can’t see a way out, it’s important to know your rights and how the situation may affect you.

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.

New pension regulations introduced in 2015 completely changed the way you can access your pension, and opened up what was previously a limited range of options. Some people choose to pay off debt with their pension, but is this wise when there are other ways that could help?

Diligence is the technical term for enforcement and comes in many forms. Diligence can only be used following court action and is therefore the result of a lengthy recovery campaign on the part of the creditor.

If you’re in serious debt with no hope of repaying your unsecured creditors, you don’t have to wait for a creditor to take legal action against you. You may be able to take matters into your own hands and apply for sequestration (bankruptcy in Scotland)

If you fall behind with certain financial liabilities in Scotland, such as council tax or income tax, there are certain procedures available to your creditors that allow them to collect the monies quickly.