Articles

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 Summary Warrant will be received from the sheriff’s office.

Being in debt is a stressful situation, but when you start to experience harassment from creditors, the pressure quickly rises. Creditors can overstep the mark when it comes to chasing payment, however, and if you feel that you need to stop harassing calls or letters, there are certain steps you can take.

If you personally guarantee a loan it means you’re committing to repaying any outstanding balance in full in the event of default.

A decree is a ‘money judgment’ issued by the sheriff courts in Scotland, and is the same as a County Court Judgment (CCJ) in England and Wales.

The government has introduced a range of measures to help individuals, families, and sole traders in Scotland who are struggling to cope financially due to the coronavirus pandemic.

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.

The office of messenger-at-arms dates back several hundred years. It is an historic profession that carries with it great responsibility, and generates more than a little trepidation for those being pursued for money.

If you have any catalogue or store debt, your creditors may be able to take legal action to recover the money through the courts. The flexible ‘buy now, pay later’ terms offered by catalogue companies are very attractive, but can encourage people into debt if payments fall behind.

While being a time of celebration and spending time with those closest to us, Christmas can also end up being an extremely expensive time of year.

If you are threatened with house repossession, you need to act quickly. You may be able to negotiate more time to pay – it is often the case that repossession can be stopped or temporarily halted, also offering you time to obtain professional advice.

Your personal credit score plays an important part in securing new loans and credit, and can affect your financial life for better or worse. Lenders use the information in your credit file to determine whether you present a high risk of default, and if your credit score is low, you may find it difficult to obtain a mortgage or other loan.

Amidst the flurry of social gatherings, last minute shopping, and getting in the supplies for hosting the big Christmas dinner, the festive season can end up being extremely expensive. While we all want to enjoy this time of year, it is important not to let your budget run away with you.