The Debt Therapy Scotland Blog

If your debts of £5,000 or more are getting out of control, you may be thinking about entering into a Trust Deed where you could make a lower payment towards your debts and possibly even get a proportion of it written off.

For the first time woman are more likely than men to file for insolvency. While the number of people applying for insolvency in both men and women fell last year, there are now 22.2 in every 10,000 adult women in the UK applying for bankruptcy or insolvency, while the rate for men is 21.2.

Citizens Advice Bureau has warned that a new generation of young people are burdened by crushing levels of debt.

Retirement often means a reduction in income and for those people with debts to service; this can be a bleak prospect. However, if you’re worrying about how you’ll manage your debt in retirement, rest assured that you have plenty of options to help you pay your debt off as quickly as possible.

Have you ever been chased for old debts before, perhaps debts that you’ve long since forgotten about or never even knew that you had? It can be a frightening prospect, to receive a letter or phone call from a debt collector asking you to pay up for a debt completely out of the blue.

There’s no doubt that 2014 was indeed a scandalous year for the payday loan industry. Irresponsible lending was the name of the game until gradually all sorts of shady operations were uncovered through complaints from customers and research by investigators. Hidden charges, unmanageable amounts of interest and money being taken from borrower’s bank accounts without permission were the types of practices being operated by certain payday lenders. And who could forget the lengths that Wonga were pr

Since the recession many individuals have opted for self-employment due to redundancies and lack of job opportunities. For many it can offer numerous benefits. The opportunity to work as much or as little as you like and earn as much or as little as you like. However, it’s not always as straight forward as that and unforeseen situations could arise, resulting in debt problems. If this happens, would you be prepared financially?

Only 834 Trust Deeds were signed in the final quarter of 2014/2015 leaving the total signed for that year at its lowest level in over 10 years according to statistics released by the Accountant in Bankruptcy. A total of 4,439 protected trust deeds were registered which is half the amount signed just 3 years ago over the same period.

Now that the new pension reforms have been rolled out, it has been suggested by many within the debt and insolvency industry that there will be a massive reduction in people over 55 seeking formal debt help to tackle their outstanding debts. The reforms now give people access to lump sums of their pension pots which could allow them to pay off any outstanding debts they have. It's a viable option and one that could impact the already declining number of Trust Deeds, sequestrations and DAS in Sco

It’s not very often that being in debt can be viewed positively and this is especially the case if you’re currently experiencing a struggle with debt yourself. There’s no doubt that being in debt can be incredibly difficult as if it becomes out of control, it can wreak havoc on your finances and in turn, on every aspect of your personal life.