Articles

Help with catalogue shopping debts

Catalogue companies offer attractive payment terms, such as 0% interest and 'buy now pay later'. But what happens when catalogue spending spirals into debt?

Sequestration

Personal Loans for People in Bankruptcy

Getting personal loans after a bankruptcy discharge can be a problem because your credit file will be adversely affected by the insolvency.

Bailiffs and Legal Action

Debt Collectors vs Sheriff Officers: what’s the difference?

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.

Trust Deed

How will a Scottish Trust Deed affect my property?

If you’re thinking of entering into a Scottish trust deed and you’re also a homeowner, you may be worried about how the arrangement will affect your home.

Personal loans and debt problems

Personal loans are perhaps one of the most straightforward ways of borrowing money but they can nonetheless be a source of serious financial complication and concern.

Sequestration

Sequestration explained for Scots with personal debts

Sequestration is the Scottish term for bankruptcy, and is often seen as a last resort by those in personal debt.

Personal Debts

Understanding defaulted bank loans and the consequences of defaulting

What happens when you default on a bank loan largely depends on whether the loan is secured or unsecured. Secured loans mean that you have provided security in the event of default, usually in the for...

Personal Debts

What is money attachment in Scotland?

Money attachment allows a creditor to ‘attach’ (seize) money which is located in a premises owned by the debtor. Money attachment can only be carried out following a decree issued by the courts.

Personal Debts

Do personal debts die with you?

When you die, your debts will be paid from your estate unless they were taken out in joint names, in which case the other person takes on liability for the full amount outstanding. If borrowing is in...

Bailiffs and Legal Action

What action can creditors take against you to recover debts?

If you’re struggling to repay personal debt, it’s important that you know the steps that creditors can take to recover their money.

Business Debt

What are personally guaranteed business loans?

If you personally guarantee a loan for your limited company it means you’re committing to repaying any outstanding balance in full in the event of the company being unable to do so.

Sequestration

What happens after you are discharged from sequestration?

Being discharged from sequestration represents a key moment and signifies the beginning of an improved financial situation.