Debt legal advice Scotland

If you are looking for debt legal advice Scotland there is a need to be careful because the debt laws in Scotland are slightly different to those in the rest of the UK. While individual voluntary arrangements (IVA) are available in England and Wales the situation is slightly different in Scotland with trust deeds offering an almost exact service, often referred to as Scottish IVAs.

It is therefore essential that if you’re looking for advice about debts in Scotland that you make this abundantly clear at the beginning of the process so that no misunderstandings may occur. The situation is very similar to an English IVA and ultimately it will allow you to reorganise your debts and agree a repayment program which reflects your ability to pay. A trust deed trustee will also be appointed to your case to oversee the terms of the agreement and the repayment schedule.

However, before you go down the route of a trust deed it is imperative that you seek the help of an adviser with skills in the Scottish debt market because there may be other options open to you such as Scottish debt consolidation. Once you have discussed your individual financial situation, prospects for the future and your debt situation the best options will become more evident at which point you can decide which route to go down.

If you feel that a trust deed is your best option, please click on the above link for a no obligation review of your financial situation.

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