Reviewed 11th February 2020
Chris had his own business. Everything went fine for a while, but the recession hit hard. Utility bills built up and he wasn’t bringing in enough money. He also had his wife and daughter to support and rent to pay, but he was trying to keep his home life as normal as possible. Not wanting to worry his wife, he didn’t share his problems. He still took them out at weekends.
“It was really quite bad. And from there it just snowballed. It got a bit - a lot - unmanageable,” he says.
Chris found SDS online and requested a call back. “My mobile phone had been shut down,” he laughs, “so I went online, typed in my details and they gave me a call back really quickly, which was great.”
“SDS did everything I was really hoping they would do. I had spent so long trying to deal with the problem myself it had actually driven quite a big stake between me and my wife… But they understood that. They said it was a common thing with people in financial difficulty. They just talked me through it step by step. They were really helpful. It was like talking to a normal person!”
We recommended Chris apply for Sequestration.
Whether you are a sole trader or a limited company director, we can help you work through your current financial problems including money owed to HMRC
A Debt Arrangement Scheme (DAS) lets you pay off your debt through a series of manageable instalments over a reasonable length of time.
A Trust Deed involves making a monthly contribution to your debts for up to four years. After this time any remaining debt will be wiped out.
Our Scottish based team can help advise you on your debt problems.
Our personalised debt report will help you better understand your financial position and see where your money is going.
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Sequestration is the Scottish version of bankruptcy and may be suitable for you if you do not have the money to pay back your debts