Articles

What is a Notice of Assignment?

A Notice of Assignment is used to inform debtors that a third party has ‘purchased’ their debt.

Can my debt affect the credit rating of those I live with?

If you’re worried about the effect that your debt might have on the people you live with, it’s worth knowing that credit files are independent of each other unless there is, or has been in the pas...

Understanding credit cards: Balance transfer vs money transfer

You may already know that shifting credit card debt from a high interest card over to a low interest one can save you a significant amount of money

What is an inhibition court order in Scotland?

If you’ve lost your job, state benefits and tax credits can provide vital financial support to see you through this tough time and help you avoid taking on too much debt while you look for more work...

Your guide to getting a mortgage after a Trust Deed

If you’re about to be discharged from a Trust Deed, you may be wondering to what extent your ability to obtain a mortgage has been affected.

Can I borrow money whilst I’m in a Trust Deed?

Borrowing money when you’re already deeply in debt requires careful consideration, and consultation with your trustee, as there are various factors associated with further borrowing in this situatio...

What to do if you are in debt to Klarna

While ‘buy now, pay later’ services like Klarna can feel like a shopper’s best friend, they can also be a fast track to debt.

What's the Register of Insolvencies and are Trust Deeds visible?

The Register of Insolvencies is a public register that documents Trust Deeds until five years after the discharge date and includes personal details.

Debt and divorce – Understanding liability and what happens to marital assets

Just as marital assets are divided during divorce proceedings, responsibility for debt incurred during the marriage will also need to be split.

Am I liable for my partner’s debt?

Liability for a partner’s debt depends on whether the borrowing is in joint names or your partner’s sole name. In essence, if the debt is in their sole name you cannot be held liable unless you ha...

What is a Minimal Asset Process (MAP)? Formerly LILA

MAP allows a path into sequestration, the term used in Scotland for bankruptcy, for people on low incomes and with few assets who may not otherwise be eligible for a formal debt relief solution.

How the Rental Exchange scheme can help improve credit ratings

The Rental Exchange scheme is a new initiative which allows tenants to have their monthly rental payment recorded on their credit file.