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.

Sequestration last approximately 12 months. If you have followed all of the instructions, then at this point you will be discharged. At this stage you may still have some financial obligations to uphold. At this 12 month stage, your Trustee (The person managing your bankruptcy) may still be realising...

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.

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.

MAP (Minimal Asset Process) is a form of bankruptcy only available to residents of Scotland. It is aimed at people who have a low income and few to no assets. It allows their debt to be written off, if they can’t pay it in a reasonable period of time. To find out more about MAP bankruptcy, Take...

A DAS (Debt Arrangement Scheme) is a government sanctioned debt solution, that is designed to allow you to pay off you debt over a longer period of time than stated in the original credit agreement. This means that your monthly payments reduce to a more affordable level. So who is eligible? For starters,...

Sadly, there is no getting around the fact that pretty much any debt solution that you enter into will change your credit score for the worse. However, if you have already been missing repayments, then your credit score will already be negatively affected. Entering into a debt solution should be seen...

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...

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...

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.   ...

A DAS is not an insolvency.  Available only in Scotland, a DAS is a statutory Debt Management Plan. A DAS should be thought as a consolidation of debt that is then payable over an extended period of time.  Ultimately you will pay off your debt and it will not be written off. All fees, interest and charges...