Debt Solutions
Older blonde woman on a laptop

Debt Services for Scottish Residents

Debt Solutions

If you live in Scotland, the debt solutions available to you are different.

What is a Debt Arrangement Scheme?

As part of a Debt Arrangement Scheme (DAS), a Debt Payment Programme (DPP) allows you to repay your debts by making one monthly payment of the amount which you have left over each month after paying your essential bills and expenses. You will pay this amount until the debts are cleared, provided that this will happen within a reasonable period.

Your creditors cannot contact you about payments or arrears if you are the subject of a DPP, and they will have to freeze interest and charges on your debts.

Your details will appear on the DAS register and your credit rating will usually be affected for 6 years.

You cannot apply directly for a DPP, this can only be done by an approved money adviser. We can refer you to an approved money advisor or you can find a money adviser local to you using this link.

If you would like us to pass your details to an approved money adviser, please call us or fill in the contact form and we will call you back to obtain the relevant information.

This solution is only available to you if you live in Scotland.

What is a Protected Trust Deed?

A trust deed is a form of insolvency. You can only apply for a trust deed if your unsecured debts are more than the value of any assets that you have. A trust deed usually lasts for 3-5 years, during which time your assets will be transferred to a trustee and you may need to make regular payments out of your earnings.

Provided that your creditors agree to the arrangement and you meet your obligations, your trust deed will become protected.

Your creditors cannot contact you about payment or arrears if you are the subject of a protected trust deed, and they will have to freeze interest and charges on your debts.

There will be restrictions on your spending during a trust deed and you may have to sell some of your assets. A trust deed may also affect your employment.

Your details will appear on the public Register of Insolvencies for 5 years and will appear on your credit file for 6 years from the date of the arrangement.

You will need an Insolvency Practitioner (IP) to set up a trust deed. We can refer you to a trusted provider or you can obtain further information using this link.

If you would like us to pass your details to an approved money adviser, please call us or fill in the contact form and we will call you back to obtain the relevant information.

This solution is only available to you if you live in Scotland.

Brunette woman sat on the floor with a laptop, pointing left

What is Sequestration?

Sequestration is the Scottish legal term for bankruptcy.

Sequestration would require you to transfer all of your assets and property to a trustee who will sell these assets to pay your creditors.

You can only apply for sequestration if you owe more than £1500 and have not been made bankrupt in the last 5 years. You must be unable to meet repayments to your debts as they fall due.

Sequestration usually lasts for a year, after which period any remaining debts will be written off and you will be discharged.

The fee for sequestration is £150.00.

You can obtain more information about sequestration using this link.

Minimal Asset Process (MAP) Bankruptcy

MAP bankruptcy is a route into bankruptcy for people who can’t afford to pay anything towards their debts, owe at least £1500 but no more than £25,000, and have assets worth no more than £2000 (excluding a vehicle worth up to £3000).

MAP lasts for six months, after which period any remaining debts will be written off and you will be discharged. You won’t have to make any payments unless your situation changes for the better.

You’ll still have to pay some debts such as student loans, fines and debts obtained through fraud (such as benefit overpayments), or debts incurred after your bankruptcy (like rent or utility arrears).

You can’t apply if you have been subject to a MAP bankruptcy within the last 10 years, or sequestration within the last 5 years.

The fee for MAP bankruptcy is £50 (unless you are in receipt of certain income-related benefits).

You can find more information about MAP bankruptcy here.