A New Year, a new start

If your debts are out of control, this is as good a time as any to think of a new start.  Every working day, about 80 Scots go into a kind of formal insolvency - sequestration (bankruptcy) - whether through the courts or administratively through the Accountant in Bankruptcy including the low income low asset LILA route - or a less formal protected trust deed (PTD). There is also a thing called the Debt Arrangement Scheme (DAS) which can give you time to pay debts in full.

Sequestrations, PTDs and DASs can have a serious effect on your credit ratings, and you need proper advice before taking such a drastic step. There should be no need to pay for advice, but the way, with Citizens Advice and National Debtline there to help. Of you can phone Scottish Debt Advice on 0800 881 8709 for free confidential advice.