Articles

Personal Debts

Moving abroad to escape unpaid debts – what happens?

If you are drowning with unmanageable debt, you may be tempted to try and escape this for good by leaving the country. You may be considering a move abroad for other reasons, such as to be closer to f...

Personal Debts

Dealing with high property factoring fees in Scotland

High factoring fees are placing an increasing financial strain on many property owners in Scotland, with some property factoring companies being criticised for huge price rises for what is often only...

Bailiffs and Legal Action

What powers do bailiffs (Sheriff Officers) have in Scotland?

Sheriff officers work on behalf of companies, government departments and individual creditors to enforce court orders relating to unpaid debt. This may be unsecured debt such as Council Tax arrears or...

Credit Score

The difference between ‘settled’ and ‘satisfied’ in a credit report

When you look at your credit report, you’ll see various status codes marked against individual loans and other borrowing. These indicate the extent to which you’ve repaid your creditors, whether t...

Bailiffs and Legal Action

Statute Barred Debt in Scotland

A statute barred debt is one that can no longer be collected by a creditor due to the elapsed time limit laid down in The Prescriptions and Limitation (Scotland) Act, 1973.

Bailiffs and Legal Action

What is a Notice of Assignment?

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

Credit Score

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...

Personal Debts

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

Bailiffs and Legal Action

What is an inhibition court order in Scotland?

An inhibition order is a form of diligence used by creditors in Scotland which affects what you can do with your heritable property.

Trust Deed

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.

Trust Deed

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...

Personal Debts

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.