Insolvencies on the rise again in Scotland...
Insolvencies are continuing their rise with current figures showing the highest levels of Protected Trust Deeds and DAS approved payment schemes seen to date, says Scottishtrustdeed.co.uk.
The figures for the second quarter of 2011 from Accountant in Bankruptcy (AiB) show that while bankruptcies have dropped by 8% since the same period last year, Protected Trust Deeds have risen by 22% and DAS approved payment plans by a whopping 72%.... |
TAX... How much are we actually paying for every £100 earned?
Do you realise how much tax you are paying for every £100 earned? If not, read on...
We all know taxes are a bind. As the saying goes, there’s nothing more certain in life than death and taxes. We don’t like paying them, but we think they’re inevitable, so we put our heads down and every month pay 22% from our wages to the Government.... |
Debtors keep their homes under new changes to Trust Deed law
New changes to Trust Deed law will allow debtors to exclude their home from their Trust Deeds, resulting in less homelessness and a fairer wealthier nation, says Trust Deed Company Scottish Trust Deed.
Changes to the Bankruptcy (Scotland) Act 1985 took effect on 15 November 2010, and were designed to widen the scope of debt relief for the Scottish population struggling in debt and reduce the heavy restrictions associate with Trust Deeds.... |
Who takes out Protected Trust Deeds?
Who takes out Protected Trust Deeds?
Debt can make you feel very alone, but chances are if you pick anyone at random passing you by on the street they’ll have some debt. However if you’re in financial trouble and a Protected Trust Deed is your only option beside sequestration, that feeling of loneliness can be magnified.... |
Vulnerable Scottish hit by banks
Vulnerable Scottish consumers are having their accounts raided without warning by unscrupulous banks using set-off to obtain credit card and loan arrears payments.
In recent years, lenders have stepped up their efforts to sell their products, with the result that many people end up with loans or credit cards with the same institution they have a current account with.... |
Write off debt in Scotland with a Trust Deed
People take out Trust Deeds for many different reasons. Some are desperate to avoid sequestration and a Trust Deed is the last option. For others, it relieves the escalating pressure from creditors. But there is a third group of people who recognise Trust Deeds for what they are; a valuable way to tackle their finances and write off debt once and for all.... |
Scottish Trust Deeds: Debt Help for Scotland
A Scottish Trust Deed is an option used to provide debt help in Scotland under the Bankruptcy Scotland Act, 1985. Available only in Scotland to Scottish residents, this option can be offered to those who meet certain qualifying criteria, the major of which is that you have large amounts of unsecured debt that you are finding difficulty in repaying.... |
What you need to know about Protected Trust Deeds – part 1
Real life questions from real life people...
It’s not always over-spending on consumer goods that pushes people into considering debt solutions like Protected Trust Deeds. You may have been forced into debt by circumstances such as illness or redundancy or perhaps even a spendthrift spouse or partner has led you down this road.... |
More facts on Protected Trust Deeds in Scotland
The rules on the Protected Trust Deeds (PTDs), 1985 Act, have been subjected to a reformation. This draft for reformation was introduced in July 2004. The main focus is to ensure better administration of these PTDs, certain new rules for the discharge of debtors. This new change will also be instrumental to support the supervisory role of the Accountant in Bankruptcy (AiB) as initiated by the section 23 of the 2007 Act.... |
Important Things to Consider in a Home Equity Loan
With a very small interest rate and better payment terms, more and more people want home equity loans. The most important thing is that they can build on the market value of their property, so they can get the kind of loan that they want.
However, coming up with a decision is not going to be very easy.... |
The Bankruptcy Process in UK
What do you do when you have already exhausted all the means to keep your finances afloat—but to no avail? The most significant recourse that you can do is to file for a bankruptcy. However, different countries have their own ways of dealing with this financial process. If you’re living in the UK, for example, you have to take note of the following:
Only the court can give the bankruptcy order
There’s no other branch of the government or person who has the authority to consider you bankrupt than the UK court.... |
The Benefits of Debt Consolidation
There are basically various kinds of loans that you can avail, and one of the most popular is called debt consolidation. The process is very simple. It’s because of the many benefits that you will be able to get out of it:
1. You only have one debt to consider later on
The concept of debt consolidation is very simple.... |
