Debt Advice for Scotland

At Campbell Dallas Debt Solutions, we aim to provide free, confidential debt advice for those struggling with debt in Scotland.  We are an independent Scottish organisation with all our staff based in Scotland.  Below we have listed the debt solutions for those living in Scotland.

Protected Trust Deed

A Protected Trust Deed applies only in Scotland and is a formal but voluntary arrangement with your creditors where you offer to repay a percentage of what you owe them, usually over a 3 year period.  It is not as formal as sequestration (bankruptcy) but may affect you in similar ways, for example your credit rating is likely to be affected.

  • Up to 90% of debt written off
  • No more creditor hassle
  • Protection from dilligence
  • Keep your property (equity dependant)

Sequestration

Sequestration is the Scottish legal term for bankruptcy.  It involves a Trustee taking control of your assets and liabilities (debts) for the fixed period of one year.

  • A fresh start with no debt
  • 100% of debt may be written off
  • Sequestration lasts for one year

The Debt Arrangement Scheme

The Debt Arrangement Scheme offers individuals who live in Scotland the opportunity to repay all their debts at an affordable rate via a Debt Payment Plan (DPP).

  • Repay your debts in full
  • Completely protect your assets
  • Protection from dilligence
  • No further interest or charges

Debt Management

Debt management can take many forms but is generally taken to mean a Debt Management Plan (DMP). This is where you, a representative or a specialist debt management company contacts your creditors, provides a breakdown of your income and expenditure and offers your spare income to creditors on a pro-rata basis.

  • Repay your debts over a comfortable timescale
  • One monthly payment
  • Informal procedure that can be tailored to your individual circumstances, you can opt out at any time if your circumstances change

Remortgage

If you have sufficient equity in your home, and you can afford the extra monthly payments, a remortgage might be a good option for you to clear your debts.

  • One monthly repayment
  • Lower repayments but over a longer period of time
  • Your home would be at risk if you couldn't maintain payments.
  • If you have sufficient equity in your property and could afford increased mortgage payments, we would provide you with free, independent financial advice from a qualified mortgage advisor in order to determine whether this is the best option for you.

Consolidation

If you have a number of debts that would be easier for you to manage if you only had one monthly payment to make, a consolidation loan may be the answer.

  • One monthly repayment and only one creditor to deal with
  • More affordable repayments but over a longer period of time
  • May have to be secured on property
  • You may prefer to obtain a loan in order to pay all your debts off, but before doing so we would provide you with free, independent financial advice to ensure you are fully informed.
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