Personal Debts Articles

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...

Personal Debts

What is the difference between secured and unsecured debt in Scotland?

Whether you’re an individual managing personal debt or a business owner handling your company’s finances, you need to understand the different types of debt and the obligations they bring.

Personal Debts

Can debt affect my home in Scotland?

When you're struggling with debt, one of your biggest concerns is likely whether you could lose your home.

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,...

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.

Young couple sitting in the kitchen preparing bills to pay

Personal Debts

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.

Personal Debts

What to do if you are struggling to repay benefit overpayments

If you have debt as a result of an overpayment of state benefits, you will need to make arrangements to pay this back to the government.

Personal Debts

Tax Debt Help for online content creators and OnlyFans models

Social media has opened up a whole new way of earning money, with more people than ever now turning to platforms such as TikTok, Instagram, YouTube, and OnlyFans to generate extra income.

Personal Debts

What to do if you are in debt to PayPal

Buy now, pay later (BNPL) services are gaining popularity due to their easy access and flexible repayment options. BNPL is highly appealing as it lets you spread the cost of a purchase, rather than ma...

Personal Debts

What to do if you are in debt to Clearpay

Clearpay lets you spread the cost of your purchase through 4 instalments, due every 2 weeks. The payment option is available online, through the Clearpay app, and you can also use a digital payment ca...

Personal Debts

What is a debt settlement offer?

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.

Personal Debts

17 Signs you’re struggling to cope with debt & need to take act

Debt seems to be a way of modern day life. For some things in life, such as buying a home or paying for a university education, taking on debt and paying this off in instalments may be the only way of...