Articles

Advice for sole traders struggling with business cash flow problems

Being a sole trader can feel like a lonely existence, even when business is good. You make all the decisions yourself, and have to rely on your own judgement to make the business a success.

Dealing with HMRC tax debts

Her Majesty’s Revenues and Customs (HMRC) is one of the biggest creditors in Scotland, and indeed across the rest of the UK.

Can you be jailed for debt in Scotland?

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.

How to write off gambling debt

If you have built up debt from gambling, you may be able to write off part or all of the debt via a formal Scottish insolvency route.

What is the impact of my wife or husband’s sequestration on me?

The nature of sequestration means that your husband or wife’s assets are placed under the control of a trustee.

What is a Low and Grow Debt Arrangement Scheme?

The Debt Arrangement Scheme in Scotland, or DAS, enables people in serious debt to repay their creditors in full over a longer period of time.

Sole trader and cannot afford Bounce Back Loan repayments

The Bounce Back Loan Scheme (BBLS) offered emergency funding for companies and sole traders at the height of the coronavirus pandemic, and was instrumental in keeping many small businesses afloat.

How to avoid paying credit card interest

Credit card interest can be extremely high, with rates of 20% or more commonly being paid by consumers.

Life after a Trust Deed

The end of your Trust Deed will be marked with a formal discharge letter from the Trustee, and your entry on the Register of Insolvencies will be removed.

Comparing the cost of DAS, Sequestration and Trust Deed

In Scotland there are 3 main options for those struggling with problem debt. Each one comes with its own positives and negatives, and also its own financial cost – both initial and on-going.

7 Advantages of using a Debt Arrangement Scheme to become debt-free

If you’re trying to deal with overwhelming amounts of debt, you may be eligible for the Debt Arrangement Scheme in Scotland.

Can equity release help me to manage my debt problems?

Statistics published by the Equity Release Council show a significant rise in the number of equity release transactions in Scotland in recent years.