Sort your debt problems today

Both north and south of the Scottish border there has been a substantial reduction in economic activity which has placed more and more pressure upon the finances of both families and individuals. However, with news that at least one in 60 of the UK population are staring potential bankruptcy in the face it appears as though more and more people are not tackling their problems head-on. Sorting your debt problems today could literally change your life and reduce the substantial pressure which can build up as your financial position deteriorates.

Trust deeds in Scotland are the equivalent of IVAs in England and offer a very useful initial step toward sorting out your finances. However, nobody will knock on your door or phone you to suggest a trust deed or an IVA as it is your responsibility to sort out your own financial affairs before one of your creditors potentially looks towards bankruptcy. Many people in the country had assumed that the value of their homes would at some stage bail them out of any financial difficulties but with house prices falling month by month and sellers very thin on the ground, more and more people are realising that they are unable to depend on their one main asset.

Taking that first step towards a debt solution can be tricky, it can be embarrassing and it does make you face your problems head-on but for those looking at medium to long-term stability it is a step which needs to be taken soon as you see financial trouble looming on the horizon.

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