Scotland Debt Solutions Director Speaking on Kirkcaldy Community Radio
December 7, 2017
Scotland Debt Solutions’ director, Adam Southard, joined Dave Stewart on Kirkcaldy Community Radio this lunchtime to discuss how Scottish residents could avoid getting into debt this Christmas, as well as offering financial tips for the year ahead.
Christmas can be notoriously expensive, and it is more important than ever to keep a tight reign of your finances when enjoying the festivities at this time of year. This ensures you enter the New Year in as sound a position as possible and look forward to a financially healthy 2018.
Adam discussed the importance of having a clear and workable budget in place going forward to ensure monthly outgoings do not exceed the money coming in. He also had advice for Scots already struggling under the pressure of mounting debt. Adam’s main piece of advice was to tackle the situation head-on and the importance of not burying your head in the sand, something which will only make the problem worse.
Adam talked through the various different formal debt solutions such as sequestration, trust deeds, and debt arrangement schemes. Each solution has its own positive and negative aspects, and it is vital that expert advice is sought before committing to one course of action. The right solution depends on an individual’s level of debt and their income, meaning that what may be the right move for one person, could be entirely wrong for someone else.
Adam also gave sound advice regarding informal debt solutions such as negotiating with creditors to see if a more preferable arrangement can be reached. This could take the form of negotiating full and final settlements, or having the interest frozen on the account for a period of time.
Scotland Debt Solutions understand the importance of moving swiftly when it comes to dealing with debt. As a result, we offer free face-to-face consultations, often on the same day, where you can meet with a specialist adviser who will go through all of the options available to you and recommend the best solution to help you get your finances back on track.