Trust Deeds
A trust deed is employed in Scotland and is a voluntary but legally binding formal arrangement between a debtor, a trustee and their creditors. A debtor, an individual who often has a very large sum of debt they need to clear, volunteers to transfer their assets to a professional Insolvency Practitioner, known as a trustee. It is then the responsibility of the trustee to administer these assets...
Read MoreCoping With Your Debt – Solve the problem
Are you in the position where there is a chance of losing your home or your car? Perhaps you’re falling behind with settling your bills, debt collectors are knocking on your door and creditors are harassing you for payment… Take heart. You are not the first (nor the only) person facing such a financial crisis. Regardless of whether your current situation was caused by job loss, sickness or...
Read MoreBeware of Bad Debt Advice
Due to the current financial climate, the United Kingdom has become overrun with debt management companies and as a means to draw in customers they often promise un-deliverable results. Like many industries you have the honest experts and the fraudsters, it is up to you to seek out those who will really help you and those who will only claim to. Of course, it is possible to rid yourself of...
Read MoreDebt Management Tips
Each of us knows the feeling: it’s month end, we have a handful of bills to pay, have to go to several different banks and post offices to pay them, and all the time we are worried that we’ll pay the wrong amount to the wrong creditor. If only we could arrange our debt management a little better, our lives would be just so much easier. But, the fact is that your debt management need not...
Read MoreWhat is an IVA?
IVA stands for an Individual Voluntary Arrangement and enables a person with financial difficulties to put into place a legally binding payment plan in order to pay off outstanding debts. An IVA is settled between the individual in question and the people they owe money to, their creditors. As an IVA is legally binding it can only be set up by a licensed professional known as an Insolvency...
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