Cost of Living Debt Help & Advice
Cost of Living Debt Help & Advice
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
Free debt counselling, debt adjusting and providing of credit information services is available to customers by contacting MoneyHelper.
We’re No.1 in Scotland
Reduce your monthly debt payments
Thousands of people across Scotland are struggling to cover their essential household costs at the moment. The cost of living crisis has resulted in everyone paying a lot more for energy and food, and other essential costs like rent and fuel.
While important costs like energy, food and rent are rising steeply, many people are unable to make the minimum payments to the people they owe money to, and even using their credit cards to pay for the things they can’t afford.
If you’re worried about being able to pay your bills, you’re not alone. We can help you.
Reduce your debt to one affordable monthly payment.
Write off up to 70% of the debt you can’t afford.
Keep enough money aside to cover essential costs.
Let us deal with the people you owe money to.
Our experienced debt advice team have helped over 30,000 Scottish residents use regulated, formal debt solutions including Protected Trust Deeds and the Debt Arrangement Scheme (DAS) to reduce their monthly payments and write off up to 70% of their unaffordable debt*
The debt solutions we offer help our customers enjoy a brighter future.
Find out if you qualify
How it works
You will reduce your monthly debts down to just one affordable monthly payment and if you choose a Protected Trust Deed, you can even write off your unaffordable debt.
Personal Loan
£8,000
Credit Cards
£6,400
Store Cards
£2,600
Old Council Tax
£1,496
Total Debt £18,496
Old
£700
New
£130
Payment
reduced by
81%
Subject to creditor acceptance. Payment subject to individual circumstances. Credit rating may be affected.
Types of debt that can be included
You’re in safe hands
There’s no obligation
And it will always be 100% confidential and secure.
Frequently asked questions
Length – With the Debt Arrangement Scheme, they last until all your debt is repaid, this can be up to 12 years but could also be sooner. Whereas Trust Deeds last for a typical duration of 4 years. In some cases, this may be extended to 5 years.
After this time, any remaining unaffordable debt is paid off.
Unsecured debt amount – For DAS, there is no minimum debt level required in a Debt Payment Programme (DPP) however, to qualify for a Protected Trust Deed, you must owe at least £5,000 of unsecured debt such as credit cards and loans.
Assets – DAS does not involve any assets.
When you’re looking for Debt Help in Scotland, you should always get debt advice tailored to your own circumstances, as your case is unique and will depend on factors finding your assets and affordability. Things that are unique to you.
Yes, however, your expected write-off amount will be dependent on your individual circumstances.
*The expected debt write-off figure of up to 70% is based on 1,671 Protected Trust Deeds currently administered by Trust Deed Scotland® and protected between 1 January 2023 and 31 December 2023.
The expected write-off percentage includes the costs of administering each Protected Trust Deed (PTD). More information relating to the costs of administration can be found by visiting our Fees & Key Information page.
In this sample of PTDs, the expected write-off figure reaches as high as 84%. 226 PTDs or 13.5% of the cases have an expected debt write-off percentage between 70% and 84%. The average (mean) expected write-off is 51%.
Your decision to apply for a Protected Trust Deed should not be taken purely on a proposed debt write off amount alone. It is very rare for a Trust Deed not to be protected with Trust Deed Scotland® and we have one of the best protection rates in our industry, for example, in 2023, we achieved a protection rate of 98.6%, this made us the best performing volume provider of Protected Trust Deeds in Scotland.
DAS Scotland provide tailored debt advice on all available debt solutions in Scotland.
We make sure that our customers get personalised debt advice based on their affordability, lifestyle and needs. May not be suitable for all. Will affect credit rating.
To find out what your options are, simply complete our online form or just call us on 0141 241 6299.
Yes. Couples who are spouses/civil partners, or living together as if so, may apply for a joint Debt Payment Programme (DPP) under the Debt Arrangement Scheme.
Both individuals can still choose to enter into their own DPP and can both freely apply for other alternative formal debt solutions such as a Protected Trust Deed and Sequestration.
A joint DAS application can be made regardless of the existence of joint debts.
Our current Debt Payment Programme (DPP) under the Debt Arrangement Scheme (DAS) creditor acceptance rate is 99.8%.
This means that in almost every case that we’ve proposed on our customers’ behalf, we have been able to get their DAS proposal approved by their creditors. A creditor is someone to who you money. For example, a credit card company or catalogue company.
In this sample of 2,839 Debt Payment Programmes (DPPs) under the Debt Arrangement Scheme (DAS), approved between January 2021 and December 2023, only 7 proposed DPPs were rejected and unable to proceed.
You can find out more about the advantages and disadvantages of the Debt Arrangement Scheme by calling DAS Scotland on 0141 241 6299.
The governing body for Trust Deeds is known as the Accountant in Bankruptcy (AiB). The AiB supervises all Trust Deeds however each Insolvency Practitioner is licensed by their own regulatory body.
Our Insolvency Practitioner is regulated by the Insolvency Practitioners Association.
As with all formal debt solutions in Scotland, one of the main disadvantages for you will be how it affects your credit rating.
Entering into a Scottish debt solution will affect your credit rating for six years from the date the solution begins.
When borrowing money, credit reference agencies will assess the level of risk and base their decision on your financial history. This will include any defaults, whether you’re in a formal debt solution or if you have used an informal debt management plan.
However, once your chosen debt solution has finished and you have been discharged, you can then start to rebuild your credit rating and apply for a mortgage, credit cards etc.
While in the debt solution, you will make reduced monthly payments to your creditors, during which time you can get on with your life.
Before you commit to any debt help in Scotland, you would have a detailed call with an experienced debt adviser and the benefits and risks would be fully explained in the context of your own personal circumstances. In some cases, other alternatives like Sequestration (Scottish Bankruptcy) may even be the best recommendation for you.
Every case is different to the next and with any reputable debt adviser, you would receive tailored debt advice on what your debt repayment options may look like.
Remember: May not be suitable in all circumstances. Fees apply. Your credit rating may be affected. Free debt counselling, debt adjusting and providing of credit information services is available to customers by contacting MoneyHelper.
Your assets are not taken into consideration with the Debt Arrangement Scheme. So homeowners, for example, are protected as long as their mortgage or secured loan payments are maintained.
You will make one reduced and affordable monthly payment which will then be used to pay your creditors. This allows you to focus on making your payments to your priority debts such as your mortgage.
We also help many customers who are currently homeowners enter into a Protected Trust Deed plus give advice on alternative formal debt solutions in Scotland.
If you have problem debt, but you’re worried about your home being sold to pay off your debts – our best advice is to seek debt help sooner rather than later as this may give you peace of mind that you can protect your home from being sold to pay off your debt.
The expected debt write-off figure of up to 70% is based on 1,671 Protected Trust Deeds currently administered by Trust Deed Scotland® and protected between 1 January 2023 and 31 December 2023. The expected write-off percentage includes the costs of administering each Protected Trust Deed (PTD). More information relating to the costs of administration can be found by clicking here. In this sample of PTDs, the expected write-off figure reaches as high as 84%. 226 PTDs or 13.5% of the cases have an expected debt write-off percentage between 70% and 84%. The average (mean) expected write-off is 51%.
When you’re struggling with debt and looking for ways to get back to a level you’re comfortable with – you may be contemplating what informal and formal debt repayment plans are available to consider, and have seen companies offering a debt management plan. A Trust Deed in Scotland is a way of managing debts in … Continued
