Debt Management Scotland

If you live in Scotland, have 2 or more credit agreements and owe more than £10,000 in unsecured debt, it is likely that a Trust Deed could be the most suitable answer to your debt management problem.

Advantages of a Scottish Trust Deed

• Potential to reduce payments by up to 70% or more
• Lenders cannot take legal action
• No upfront fee payable by yourself
• All outstanding credit will be fully paid off after 36 months
• Interest on all accounts will be frozen
• A legal agreement under The Bankruptcy (Scotland) Act 1985
• Handled by a licensed Insolvency Practitioner
• An agreement with the creditors to accept the proposal
• The proposal is for the lenders to accept a lower amount than the amount outstanding based on what you can afford over 36 months
• Payment calculated on disposable income before unsecured debt payments
• Lump sum payments can be made
• Licensed Insolvency Practitioner manage payments on behalf of yourself

Debt management in Scotland is different to England, Wales and Northern Ireland. For this reason it is advisable to contact a debt management company to discuss the best debt solution for you.

Simply use our contact form or call us on 0800 3457891

Fees payable

• the initial fee charged is the first monthly payment of the debt management plan
• a fee of 15%, or £25 (whichever is greater) is charged thereafter for the management of the plan
• an advice fee of £285 may be charged which will be payable by 3 installments of £95 added to the agreed debt management monthly payment