Debt Scotland, The Truth

Debt problems in Scotland have started to increase dramatically over the last few weeks with a serious downturn in the Scottish economy apparently on the cards. Scottish credit card debt, Scottish loan debt and Scottish mortgage arrears are all becoming too common and more and more consumers are falling into the trap. It has been revealed that one in three Scottish adults actually lose sleep at night because of their concerns about mounting debts.

While the Scottish politicians continue to discuss independence from the UK union Scottish debt problems are on the rise and reaching serious levels. Scottish debt counselling has literally been inundated with requests for help and advice as have the various Scottish debt agencies which were once empty. However, it is a good sign that more and more Scottish people are using the debt management facilities available before the situation gets out of control.

As we have covered on a number of occasions, mortgage, credit card and loan companies are more likely to be receptive to any request to reschedule your debt if you let them know about your problems sooner rather than later. The Scottish debt system is slightly different to the English debt system in that IVAs are replaced by deeds of trust although there is little difference between Scottish bankruptcy and English bankruptcy.

If you are experiencing any kind of financial difficulty and cannot see a way out in the short term it is vital that you take advice from professional debt advisers and try to work out the best way forward for your situation.

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