In the realm of debt solutions, Scotland offers a unique and helpful option known as the Minimal Asset Process (MAP). If you are a resident of Scotland and struggling with unmanageable debt, MAP could be the appropriate method to tackle your financial difficulties and gain a fresh start. The Minimal Asset Process is a form…
As a debt solution in Scotland, sequestration, also known as Scottish bankruptcy, is governed by the Bankruptcy (Scotland) Act 2016. Overview Sequestration, a bankruptcy type in Scotland, involves a Trustee managing your estate to address the debts owed by you. As a formal insolvency method, it offers an alternative to personal bankruptcy or an Individual…
Debt Arrangement Scheme (DAS) is an option to consider if you’re struggling with multiple debts. It’s a government-backed initiative that allows you to repay your debts in a manageable way. Below are some key features of DAS: Remember, DAS is not the only debt solution available. Explore other options like trust deeds, insolvency, and DMPs…
A Protected Trust Deed in Scotland is a legally binding debt solution that helps individuals struggling with financial difficulties to manage their unsecured debts. Established under Scottish law, this voluntary arrangement allows individuals to pay back a portion of their debts while protecting them from legal actions taken by creditors. The process is facilitated by…