 Debt Solutions
We provide a range of solutions for clients with debt problems including:
Protected Trust Deeds
A protected Trust Deed is often the most suitable way of dealing with debts.
The main features include:
- A third-party (Trustee) negotiates a repayment arrangement with your lenders
on your behalf.
- Any unsecured debts that you have may be written off after successful completion
- normally 3 years.
- Interest and charges are frozen so that your debts will not increase.
- You pay one monthly amount, based on what you can afford, to the Trustee
who will distribute the money to your Creditors.
- There are no set-up fees.
The main requirements are:
- Trust Deeds are only available to residents of Scotland - if you are normally
resident in England & Wales click
here.
- They are usually suitable for individuals who owe more than £10,000
(not including mortgages).
- Individuals must be in full time employment and must not have taken out
any new credit within the last three months.
For more information on Trust Deeds click
here.
Debt Management Plans
In some cases a Debt Management Plan is the best solution for dealing with
debt. We work in association with the UK’s leading provider of FREE Debt
Management Plans.
The main features include:
- An arrangement is agreed between you and your lenders to enable you to repay
your debts at a rate you can afford.
- You make one monthly payment that is then distributed on your behalf.
- Correspondence with your lenders on your behalf.
- Interest is often frozen.
- You do not have to pay any fees on this, every penny goes towards repaying
your debts.
The main requirements are:
- You must owe money to two or more lenders.
- You must be unable to meet your contractual monthly repayments.
- You must be resident in the United Kingdom.
Please contact us in the first instance for further information on Freephone: 0800 0150607.
Sequestration advice
Sequestration is the Scottish legal term for personal bankruptcy and may be
an option where:
You owe £1500 or more and a lender has served you with either a Charge
for Payment, a Statutory Demand or
an Earnings Arrestment as a result of a charge for Payment, orYou owe £1500
or more and your lender or lenders agree to sequestration.
For further advice on individual or company debts call us on Freephone: 0800 0150607 or click here for more information
on sequestration.
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