Scottish Debt Solutions

A Guide To MAP Minimal Asset Process Sequestration

The Scottish term for bankruptcy is sequestration. The Minimal Assets Process (MAP) is an alternative route to sequestration for those who meet certain specific criteria. This allows you to start anew from a financial perspective. Some people consider Sequestration to be a last-resort option because it has long-term consequences on the credit rating. It is however [...]

A Guide To Scottish Trust Deeds In The UK

Trust Deeds were introduced in 1985 by the Government as an alternative to sequestration (bankruptcy) and are formal voluntary arrangements, using the Bankruptcy (Scotland) Act 1985. Basic Trust Deed Criteria: You must be a Scottish resident or have left Scotland only recently You must be unable to continue fully repaying your debts. Minimum debt level [...]

A Guide To Debt Arrangement Schemes In The UK

The Scottish government instituted the Debt Arrangement Scheme, or DAS, which allows residents to repay debts in an affordable manner. Scottish residents turn to this debt management solution when they can afford to repay their debts but need a longer time to do it. A qualified individual helps a debtor create a Debt Payment Program, [...]