Articles

How to budget and organise your finances in 2022

Budgeting and organising your financial life might seem like a daunting task but once you’ve done it you’ll have much greater control over your money.

What happens with debt over six years old in Scotland?

Are personal debts in Scotland written off after six years? What is statute-barred debt? When is Scottish debt unenforceable? Find out more in this article.

Individual Voluntary Arrangements and debt management in Scotland

If you live in Scotland and are finding it difficult to keep up with debt repayments, you may be eligible to enter a Scottish IVA (Individual Voluntary Arrangement).

Advantages and Disadvantages of the Minimal Asset Process in Sequestration

If you are struggling to repay debt because you’re on a low income and have few assets to sell, the Minimal Asset Process (MAP) may provide a way out of this worrying situation.

Important advice on going bankrupt or declaring yourself bankrupt in Scotland

If you live in Scotland and are considering personal bankruptcy (sequestration), there are certain issues that you need to be aware of. These include an understanding of what will happen to your asset...

I’ve received a Simple Procedure Notice of Claim – what now?

If you owe a debt of £5,000 or less, your creditor may send you a Simple Procedure Notice of Claim. This is a relatively new procedure that was brought in by the Scottish government and commenced on...

10 steps to take now to improve your credit rating

If you are currently working on reducing the amount of debt you have, improving your credit score may not be at the top of your agenda.

How can I tell my partner I’m in debt?

Being in debt can be a huge burden that affects every part of your life, but one of the most difficult aspects is when you’re in a relationship, as it can be very difficult to tell your partner abou...

Debts in Scotland – What is a decree?

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.

What's a ‘continuous payment authority’ and how to cancel it

Continuous payment authorities, or CPAs, are often used by payday loan providers as a way to take repayments via a debit card, or sometimes a credit card.

What is the ‘simple procedure’ process in Scotland?

Should a creditor decide to take court action against you to recoup the money they are owed they may do this through what is known as the ‘simple procedure’.

Credit cards and Trust Deeds – what you need to know

Trust Deeds can be invaluable in helping Scots get out of debt, and avoid bankruptcy. Can a Trust Deed help solve huge credit card debts? Find out more.