Debt Solutions

Sometimes, just talking things through and having a plan can help get us back on track.

There are a variety of solutions that can help if you are struggling with debt or have concerns about your finances.

One of our specialist debt and money advisers can discuss all available options and help to get you back on track.

Some of the options available include :


Informal Arrangements

Informal measures can be sought out to try and help pay off your debts.

These measures include –


Debt Arrangement Schemes (DAS)

A Debt Arrangement Scheme can help people repay their debts in a manageable way, removing the threat of court action from their creditors.

Through a Debt Arrangement scheme, you set up a Debt Payment Programme (DPP), making the one regular payment which is shared between your creditors.


Trust Deeds

A Trust Deed is a formal agreement between you and your Creditor(s) utilising a third party (the ‘Trustee’) to administer and repay towards the debt. This repayment is based on affordable payments.

A trust deed can become ‘protected’ if the majority of creditors agree to the terms of the trust deed. This means that the trust deed is binding on all creditors, and they cannot take any steps to recover the money owed to them.

A trust deed usually lasts for four years. Once it is completed, your unsecured debts will be written off. If a trust deed is not ‘protected’ then it will not be binding on all of your creditors, and they could still take action to recover the money you owe them. ​

Trust Deeds are for people with more than £5,000 of unsecured debt.​



‘Sequestration’ is the name for the process of bankruptcy in Scotland.​

Like other forms of debt management, the debtor’s assets are passed over to a trustee to manage the sequestration, sale of assets and distribution of the proceeds realized from the sale.​


Minimal Asset Process (MAP Bankruptcy)

Minimal Assets Process, or MAP Bankruptcy is a form of Bankruptcy that can be used by those with low income and few assets. 


Other Solutions

There are a variety of other debt solutions (both formal and informal) that may be suitable for your situation.

This could include an informal payment plan with your creditors; equity release from your property; or re-mortgaging (if appropriate).

Reach out to the team today to discuss your options.

Do You Have Any Questions?

Feel free to chat with us or book a Call Back to talk to us.  Contact us and we will try to get back to you as soon as possible.