Articles

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Trust Deed

What happens if you miss a payment on your Trust Deed?

If you're in a Trust Deed and your financial circumstances have changed, you may be worried about what happens if you can't keep up with your monthly payments.

Sad woman sitting on the floor looking at debts

DAS

What happens if you can't keep up your DAS payments?

A Debt Arrangement Scheme (DAS) is designed to help you repay your debts through a series of affordable monthly payments, with interest and charges frozen for the duration of your Debt Payment Program...

Trust Deed

What's the difference between an IVA and a Trust Deed in Scotland?

If you live in Scotland and you've been looking into ways to deal with unmanageable debt, you may have come across the term Individual Voluntary Arrangement (IVA).

Bailiffs and Legal Action

What powers do bailiffs (Sheriff Officers) have in Scotland?

Sheriff officers work on behalf of companies, government departments and individual creditors to enforce court orders relating to unpaid debt. This may be unsecured debt such as Council Tax arrears or...

Personal Debts

What is prescribed debt in Scotland?

A prescribed debt is a debt that ceases to exist if you do not make a payment towards it or acknowledge it in writing, and the creditor does not commence legal action to enforce it within a set timefr...

House model with agent and customer discussing calculate for price contract to buy, get insurance or loan real estate or property.

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...

Sequestration

Can I apply for my own sequestration?

When you’re struggling to repay unsecured debt and see no way out of a dire financial situation, personal bankruptcy can seem like the only option.

Can’t afford rising mortgage costs due to interest rates

With interest rates on the rise, households across Scotland will find their monthly mortgage payment increase as existing low fixed rates expire. Help is at hand.

Trust Deed

Can you pay off a trust deed early?

A trust deed is a formal debt solution for people in Scotland who are in unmanageable debt. It helps them to escape the relentless creditor pressure that can be experienced in this situation, and allo...

Trust Deed

Can creditors contact me when I am in a trust deed?

Less serious than sequestration (bankruptcy), a trust deed is a formal payment plan which allows you to take control of your debts in an affordable manner.

Bailiffs and Legal Action

Council Tax Arrears and Sheriff Summary Warrants Explained

Set procedures exist for the recovery of council tax arrears in Scotland. If the initial and final council tax reminders are not paid, or you do not respond to the communication, it is likely that a S...

Business Debt

Can’t pay a PAYE tax bill in Scotland

As a limited company, PAYE is not a tax it pays itself. Instead, the company collects Income Tax and National Insurance contributions from employees’ wages and passes them to HMRC.