Articles

Personal Debts

What if I can no longer afford my car lease?

The car finance market has exploded in recent years, with financial experts expressing concern that this type of borrowing could end up being the next ‘debt bubble.’

Business Debt

What is the process of winding up a company in Scotland?

When a company is wound up it means it permanently closes down, and creditors repaid as far as monies allow. The winding up process in Scotland is set out in the Insolvency Act, 1986, Sections 122-124...

Personal Debts

What is Debt Consolidation?

Debt consolidation combines various debt payments into a single monthly repayment. It is designed to make your total debts more affordable, and their management easier. A debt consolidation loan can b...

Business Debt

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.

Bailiffs and Legal Action

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.

Personal Debts

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.

Sequestration

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.

DAS

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.

Business Debt

Sole Trader and Cannot Afford Bounce Back Loan Repayments

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

Personal Debts

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.

Credit Score

Getting a Mortgage with a Bad Credit Score

It is possible to get a mortgage with a bad credit rating, even if you have previously been declared bankrupt. Mortgage loans for bad credit borrowers do exist – you may just need to look a little h...

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.