A Protected Trust Deed can help you write off unaffordable debts and become debt free in a 4 year period, protecting you from creditor action, freezing interest and allowing you to make one, affordable payment to repay part of your debts.
Sequestration is the Scottish legal term for Bankruptcy and is an option for individuals with unaffordable debt. Sequestration will also protect you from your creditors (the people you owe money to). With Sequestration, you may have to make monthly payments for typically four years but can be a highly effective way of dealing with debts you can't afford to repay.
The Debt Arrangement Scheme (DAS) is a statutory debt management plan that allows you to freeze interest and charges. DAS can protect your assets and allow you to repay your debts in full over a reasonable timescale.
Minimal Asset Process (MAP) is a route into Sequestration (Bankruptcy) for individuals with minimal assets and no disposable income, all debts can be written off in a 6 month period, providing all qualifying criteria are met.
If you're not sure which debt solutions could be right for you, find out with our Scottish Debt Help Calculator tool.
Contact Harper McDermott today to find out more about the pros and cons of all debt solutions available to you.