Scottish Debt Direct

Which debt solution is best suits me?

That is difficult to answer without knowing little about your financial circumstances. Scottish residents have different debt help products avaiable to them when compared to English or Welsh residents.

What scottish debt help products are there available?

Typically they are loan products, debt management and trust deeds. You need to talk to some independent scottish debt advisors and compare notes before making any informed decision.

This is all too complicated for me. Can I talk to someone ?

Off course you can! We need to know a little about your financial circumstances. Fill in our application form we will quickly assess your debt situation and advise you accordingly. You will be able to talk to someoe about the options available and details on when you are likely to debt fee. If you like what you hear we will arrange all the paperwork for you to sign and you will also be allocated a personal debt liaison officer who answer any questions you may have in the future.

What is a Trust Deed ?

A trust deed is a legally binding contract between you, your creditors and a licensed insolvency practitioner. The trust deed, once set up, provides a mechanism whereby debt is repayed over a specified period. Montly payments are based on what you can afford. After the contract expires, all remaining debt is written off.

What is a Sequestration ?

Sequestration is a scottish term know as going bankrupt. It should only be used as a last resort. Please talk to debt advice officer for information about the advantages and disadvantages.

I keep receiving threatening letters from solicitors or debt collecting agency's.

You will need to forward these to your debt liaison officer who will take care of them. Note that you will only be covered on the debts that were initially agreed upon and discussed with us.

What if I forgotten to tell about another debt.

It is important that you communicate this to us as soon as possible. Failure to disclose this information can jeopardise any agreement that we make with your creditors.

A creditor threatens to send bailiffs to my house, Can you stop them ?

You will need to forward any threatening letters to your debt liaison officer. We will inform the bailiffs that you have made preparations to clear you debt and we are the managing agent.

A creditor has threatened to take me to court?

You will need to forward any threatening letters to your debt liaison officer. We will inform the bailiffs that you have made preparations to clear you debt and we are the managing agent.

How do I know that I am clearing my debt?

You will receive a monthly statement detailing how much each creditor has been paid. The amounts paid would have been agreed by you during the contract signing with us.

When will I be debt free?

Your debt liaison officer will have discussed the options and payment plan with you and give you a indication when you are likely be debt free. This will be determined by how much is owed and the amount you can realistically afford to pay each month and the interest freeze and/or reduction we have managed to negotiate.

What is debt management

Debt Management.

Do I go for a debt management service or a Trust Deed?

You will be able to discuss this with our debt expert advisers once you have made contact. IVAs are usually taken by those who have unsecured debts over £10,000 and those who are near to bankruptcy. Most of the debt can be written off. With our Debt management service you still have to pay the debt off but we can manage to reduce or freeze interest and other charges. The enables you to regain control of your finances.

How much do you charge for your services?

The charges will depend on your circumstances and which path you use to become debt free. Contact us now for more information.