Scottish Debt Solutions FAQs

Debt Arrangement Scheme

What Is The Purpose of a Trust Deed?

The main purpose of a Trust Deed is to take all of your unsecured debt, calculate how much of it can be paid within a 4 year period at an affordable rate and write off the remaining balance. Leaving you debt free. To find out more, take a look at our Trust Deed page.

Adminisration Order 2

What Are Minimal Assets?

In Scotland, when talking about minimal assets, it is usually referring to MAP (Minimal Asset Process). MAP is a Scottish debt solution that allows people with low incomes and few to no assets, to have debt written off.   To find out more, take a look at our Minimal Asset Process page.

Debt Solution UK

How Do I Write Debt Off in Scotland?

In Scotland, there are a number of debt solutions that involve portions of debt being written off. The debt solutions that are available in Scotland that involve debt being written off are:   Trust Deed Sequestration Minimal Asset Process Click on the links to find out more.

IVA Trust Deed

How Does a Trust Deed Work?

A Trust Deed is a legally binding agreement between you and your creditors to pay back a portion of the money you owe over a set period of time (usually 4 years). At the end of the agreement, if you have followed the conditions of the arrangement, any remaining debt will be written off.  A Trust Deed needs to …

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Bankruptcy Sequestration

What is the Purpose of a Sequestration Order?

Sequestration is a form of bankruptcy that is only available in Scotland, however it is very similar to the version of bankruptcy available in the rest of the UK.  Sequestration is a form of insolvency designed to be used as a last resort, when a person is completely unable to repay their unsecured debt. You can enter into sequestration voluntarily or …

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Minimal Asset Process

What is MAP Insolvency?

Minimal Asset Process is a type of bankruptcy only available in Scotland. It is designed to give those with debts they can’t repay within a reasonable amount of time a fresh start.   MAP is aimed at people with low incomes and few assets. It is cheaper and more straightforward than Sequestration.    Take a look at our Minimal Asset Process page to find …

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