Scottish Debt Solutions

Debt Help Scotland
Which debt solutions are available only in Scotland?
All of the debt recovery solutions below are only available in Scotland, with the exception of the Debt Settlement Offer and Debt Consolidaiton Loan.

Debt Settlement Offer
If you acquire a lump sum of money and you have troublesome debts, then a Debt Settlement Offer can enable you to pay that debt at a reduced amount. The repayment is negotiated between you and your creditors.

Minimum Asset Process
Available only to residents of Scotland, MAP is a type of debt solution that is designed for individuals who are struggling to pay their debt in reasonable time and may need portions of it written off.

Trust Deed
Only available to residents of Scotland, a Trust Deed is a legally binding, formal debt solution. It is designed for people who are struggling with debts of £5,000 or over. It is considered to be the Scottish version of the IVA.

Sequestration
Sequestration is a type of debt solution only available to residents of Scotland. Whilst the rest of the UK has bankruptcy, Scotland has sequestration. The two solutions are very similar with only a few differences.

Debt Arrangement Scheme
First introduced in Scotland in 2004, a DAS is a legally binding debt solution available to residents of Scotland. It is a much milder alternative to a Trust Deed or Sequestration for people with more assets.

Debt Consolidation Loan
A debt consolidation loan can be an effective way of paying off debt to multiple creditors and combining it into one affordable payment. This allows you to reduce your monthly amount at the cost of more interest.