No money to pay back your debts? Check out the best debt management solutions here

When you hear of an attractive debt management solution through which you can pay back your debts at your own pace without facing harassing creditors with minimal interest payment, it is no wonder that it would seem like an end to all your worries. Well, if you are a resident of England, Ireland, Wales or Scotland, your daily nightmares of unpaid debt will definitely come to an end with the Individual Voluntary Arrangement and Scottish Trust Deed debt management solutions.

Although both the IVA and Trust Deed are more or less similar in their features and working, the only difference is that an IVA is available to residents of England, Wales and Ireland while a Trust Deed is available only if you are living in Scotland. Both these debt management solutions provide a unique setup to the debtor wherein he can collectively pay off his debt to all the creditors through a fixed monthly instalment. This is done by routing it through an Insolvency Practitioner who is responsible for dividing the monthly payment among the various creditors in proportion to their debts.

When to go for an IVA

An IVA is a preferable option for you if you have a lot of unsecured debts. Unsecured debts are those against which you have not put any asset as security. For example, if you have taken a log book loan against security of your car, it will not be eligible for an IVA. However, payday loans and credit card loans are eligible for IVA.

The second thing to consider is the amount of debt you have. It is important to understand that an IVA is a legal agreement and once you enter into it, you name is entered in the public register for debts which negatively affects your credit rating. For this reason, any professional in the field will always advise you to go for an IVA only when you have a significantly large amount of debt due, generally more than 5,000 Pounds and when there is no chance in the future for you to pay off the debt within a reasonable time frame. If you are unable to make an accurate assessment of your debt situation on your own, you can visit the IVAPLAN website where the team of experts can analyse your financial status and give you honest advice on the best debt management solution for you.

When to go for a Protected Trust Deed

A Protected Trust Deed is available only to the residents of Scotland. Similar to an IVA, the eligibility criteria for a Trust Deed is an unsecured debt of at least 5,000 Pounds. Earlier, this limit was 10,000 Pounds but legislative changes were made after considering the number of people who had to declare bankruptcy simply because the option of Trust Deed was beyond their reach.

Trust Deeds have become a very popular debt management option, especially after the government has made sure that greater protection is given to the debtors. One step towards ensuring this has been to increase the time period of the Trust Deed from three to four years. Secondly, a Trust Deed always has to be executed by an Insolvency Practitioner. These Insolvency Practitioner charge their own fees for the services provided by them. According to the latest legislation, any Insolvency Practitioner or debt management company cannot have any hidden charges for their services. All fees and charges have to be disclosed to the debtor up front before the deed is executed so that he is not burdened with extra debt later on.

If you want an alternative solution to bankruptcy while also ensuring that you get to keep your house and other asses, a Trust Deed might be the best possible solution for you. What has made Scottish Trust Deed even more attractive is the fact that it takes only a few days and minimum formalities to set up. Once you hand over your case to the Insolvency Practitioner, it becomes his duty to make analysis of your financial situation and deal with your creditors.

IVA and Trust Deed are two really great debt management solutions because of which you will never again have to worry your head over what to do when you have no money to pay your debts.

A simple process to apply for a logbook loan

People generally feel stressed when they are in urgent need of funds. It is difficult to know where to go and from where to arrange funds. Criss does not write a letter to you before arrival. A person can only try to borrow funds from good friends and family members. But sometimes, that doesn’t help you. What is your last resort? Going to a bank is another aspect which involves more time, formalities, cost and no surety of approval. It may also happen that your application gets rejected on the basis of poor credit history. Then what will you do?

What is a logbook loan?

There should be a scope of instant approval and disbursement of loan within a day or two. Yes, you can apply for a logbook loan. The popularity of logbook loans has increased as they are easy to apply and approve. It involves minimum hassles and liberal policies for approval as compared to bank term loans. Yes, there are some similarities as well. Both the loans involve the concept of collateral security. In a bank loan, if you take a house loan, you have to keep your house as a security; whereas here, when you apply for a logbook loan, you have to submit your car or any other vehicle as a security. Do remember it is not a vehicle loan. Vehicle loan is always taken for the purchase of a new vehicle where the new vehicle is used as a security. In the logbook loan, you keep your existing vehicle as a security to obtain funds to be used for any purpose. The lenders are not concerned with the reason of need of funds. The objective is to take your vehicle as a security and get payment of instalments on time.

Many people feel stressed about their poor credit history. You must understand the importance of credit history. No institution can give you a loan without checking your credit history. You must try to make efforts to improve and maintain the credit history by paying your mortgage instalments and credit card bills on time. The moment you miss to pay, which is also known as bouncing of payment or cheque, your credit score decreases. If your credit score is good, you can get a higher amount of logbook loan. It acts as a surety that you have the ability to pay and have a good track record of payment.

Scottish trust deeds

A trust deed is actually an agreement between the client and the moneylender which enables the client to repay as much as of the unsecured debts as possible over a limited period of years. And the rest of the debt which remains pending is written off. This is available only for people with unsecured debts within the range of 5,000 pounds or more, and with joint debts around 10,000 pounds or more. Here are a few points which you need to remember regarding the trust deeds.

  • When you are able to reach a successful conclusion, the money lenders will write off the debt that is not possible for you to repay.
  • The trust deeds don’t require any money for your mortgage, but as a regulation of trust deed you will be required to release some of the equity in your house. If you are not able to do that, then you will get an extension of the trust deed by 12 months.
  • No initial fees are charged by the Scottish trust deeds; hence it will be easier for you to start paying off the debts straight away.

The working process of Trust Deed Scotland ( is to help you to repay all unsecured debts at once making one affordable payment each month. The payment of yours will be passed to the Insolvency Practitioner (IP). This person takes care of your deeds and distributes the agreed payments to your lenders. Now, the target which we help you to achieve is to make your deed a ‘protected deed’. Your deed will become a protected deed, as soon as 50% of your lenders who you owe at least one-third of the debt are accepted by them. After that, when your deed is protected, it will become legally binding, that means, your lenders will not be able to take any further actions against you as long as you keep on paying the monthly installments.

In most cases it is seen that the deeds lasts for 4 years. This means you will have to make 48 monthly payments. After you have successfully completed the monthly payments for 4 years, any remaining unsecured debts which is present in your deed and you haven’t paid is written off. Any debts which were not added in your trust deed will remain outstanding. The Scottish trust deeds provide you Insolvency Practitioners who can always help you in arranging a trust deed.

Similar to any debt solution, the trust deeds have few disadvantages too. It will be difficult for you to obtain credit during the period of time you are paying the debts as the records will remain in your credit history for 6 years. And if you possess your own home, you will be required to release most of the equity according to the rule of the agreement, though you won’t have the risk of repossession.

What is an Individual Voluntary Arrangement

Why does one need an Individual Voluntary Arrangement [IVA]?

The answer is pretty simple to this question. There are many people out there who are struggling to repay their loans. The IVA or Individual Voluntary Arrangement turns out to be a good option for such people and thus reduces their burden and ensures that they get rid of this problem safely.

More affordable

It becomes easier to repay your debts back to the creditors with the aid of an IVA. It becomes easier to manage as all your debts are combined into one and all you need to do is pay an affordable amount monthly to an Insolvency Practitioner who will manage all the payments to be made to your creditors. It would be made sure that your living expenses are taken care of during this process.   

Less stressful

An IVA arrangement reduces the stress of the debt problems in your life. Your lenders cannot take any legal action against you as long as you abide by the terms of an IVA arrangement. No action can be taken by your creditors to recover any debt amount that hasn’t been mentioned in your IVA statements. All the interest of additional charges will be frozen while under an IVA.   

Fresh start

Once the tenure of an IVA ends, all the remaining debt amount would be written off and you would be able to make a fresh start as far as your finances are concerned.

Things to keep in mind while entering an IVA –

There are certain things that one needs to keep in mind while entering an IVA.

The creditors can request for your bankruptcy if you fail to adhere to the terms of an IVA. However, this is unlikely to happen.

You have the right to review all the terms mentioned while proposing an IVA to your debtors.

Only the debt amount mentioned in the proposal needs to be repaid. No additional amount can be demanded by any of your creditors.

IVAPros is a leading organisation that offers all possible help that one needs to enter into an IVA arrangement. We ensure that we manage the entire process on your behalf and make the entire process stress free for our clients. Our experienced Insolvency Practitioners will ensure that the entire process is smooth and you wouldn’t have to worry about anything else. We have successfully helped a lot of people repay off their debts and start a fresh financial chapter in their lives.

Scottish Debt Consolation Services

Screen Shot 2014-12-07 at 21.24.52Each country has its own options and solutions for its citizens to help them deal with their ongoing financial crises. There are certain debt settlement arrangements in various countries, and when it comes to Scotland, its citizens too have various options: Trust deeds, Debt Arrangement Scheme (DAS) and Sequestration are to name a few.

There are various professionals and firms present, offering debt advice in Scotland. Some of these firms like have a wonderful record of providing the best solution to their clients. The debt experts here provide a tailored solution to each specific case. As we have mentioned above that there are many debt solutions available, hence, only an experienced professional will be able to suggest the most suitable option for your specific debt problem.

Getting a debt advice in Scotland is quite simple. You can find a number of debt advisory firms present online. You can contact any of them through their online registration forms or other channels like contacting directly through telephone, or sending an email etc. A debt advisor will respond to your query and suggest to you the available solutions to deal with your debt issues. They will also fix a personal meeting. There are certain things that you must keep ready when you contact someone to discuss the debt solution options. These may include: the details of your current loans, your source(s) of income, your expenses, details of your assets etc. Based on these details, your advisor will come up with the available solutions and suggest you the one which is best suited to your problem.

There are many benefits that you get by taking help from a good debt solution firm like The time you have decided to settle your debt problem through a professional debt advisory firm, you will do away with all your stress related to your financial crisis. This is because now the qualified and experienced debt experts will take charge of your case; they will contact your creditors and seek for their agreement for the debt solution on your behalf. Hence, there will be no debt reminder calls, or legal notices, or the visits of the creditors.  Hence it is wise to take an expert debt advice in Scotland.

A critical debt situation may affect not only you, but your entire family. But, with a helping hand of a debt expert, you can feel relieved of the stress and can plan your future life. You will find that these professional have extensive knowledge on all kinds of debt problems and will offer the best one to you. They will not only advice you of a better way out, but will also do all the paper work on your behalf. So, face your debt problem now with a smile and contact a debt advisory firm today.

Getting yourself out of debt

The first and most vital step in dealing with debt problems is to talk to the companies that you owe money to, also known as you creditors.

However, a combination of worry and fear can make this part the hardest of all, which only exacerbates the problem the longer it goes on. Talking to your creditors means they are kept informed of the problems you face and reasons for the payment delays, without them knowing this, they often simply assume it is a deliberate attempt to avoid paying and resort to legal proceedings straight away.

Where do we start?

Before contacting creditors it is important to fully understand your own situation, list out all of the money owed and any money you still have, and see if any of the higher priority debts can be paid.

The high priority debts are those that, if remain unpaid, have serious consequences for your life. Examples of this would be rent or mortgage arrears, because the consequence is obviously losing your home. Taking your list of debts and putting them in an order of priority helps to form a plan to tackle the issues, by allowing you to deal with each debt from top to lowest priority in order.

Aside from the mortgage and rent mentioned, other debts that could be considered priority are government debts, such as income tax and VAT, child maintenance or council tax. These could have bailiffs visiting your home or even land you in prison for non-payment so again, the consequences for not dealing with them push these debts up the ladder of importance.

Energy bills would be the next rung of the ladder, having fuel supplies disconnected is not a good situation, so they warrant dealing with urgently.

Unsecured debt, court fines and store cards are the lower priority types of problems to be dealt with, although that is not to suggest such debts are not serious.

Let’s talk

Once you have your debts in priority order and understand what is owed on each and how much, if anything, you can repay, then you can begin to contact the creditors in order to see if there is an amicable solution. If your problems are temporary, such as a redundancy cutting your income but with new employment on the horizon, explain that. Always try to be honest and offer your view on the debt situation with each creditor.

It is important to let the creditor see you are working to deal with the debt and working to a solution that they are happy with, because doing this can avoid any legal proceedings against you if the creditor can see a solution without them.


The aim in all of this is to try and agree a deal, either a new repayment plan you can afford (it is important to only take on new payments you can actually maintain, not doing so will make the legal route far more likely) or other ways to deal with the debt. Being honest and open about your situation, and most importantly talking to the creditors, can achieve that.

The national flag of Scotland

Criticalness of the sequestration scenario

Oftentimes, politicians can be found partying and worrying about how to control the percentages of tax. Most of the financial crisis situations are encountered by people belonging to the middle class and not the millionaires. Despite the huge collections made by the government in the form of taxes, it never equals the expenditures they need to make for the society’s purposes. The introduction of the new sequestration forms make it easy for the public to get rid of their debts as soon as possible. Sequestration can be the answer to your call if amounting interest rates and irrecoverable debts are taking over you.

Over the years, the number of people opting for such a legal cure has risen in the region of Scotland. Recently, the data received from Scotland’s highlands indicated that people opting for trusts deeds and sequestrations are way much more than the people in U.K. Can the politicians be held responsible for such a bias in the furnishing of financial assets? The stats may not be able to justify the role of politicians in this financial scenario to the fullest. The need for sequestration is based on the inability to pay for any of the loan. The prime factor that would have to be kept in mind while going through the stats is of estimating the number of people involved in debts.

Unemployment could be one of the possible triggers that could lead to sequestration. Most of the sequestration and trust deeds cases that have been examined over the years by financial experts are the ones who have encountered a period of low-life or inability to make decent wages at some point of time during their life. The professional financial experts at  Trust Deed Scotland make it possible for the public to carry out the process of sequestration with ease.

Unemployment was found to be higher in Scotland than in the U.K. The contract signed by the federal government has risen and in fact doubled through the decade. In order to plan for a time of recession, the contractors might want to slow down a little and keep the future bids at bay. Alterations done in the present day contracts would lead to the prevention of sequestrations in the future. A major issue faced by federal contractors is of keeping a hand on the margins in the federal work. Many international economists have stated their concern over the situation of sequestration. Consecutive sequestrations can probably lead to the onset of yet another era of recession.

Debt Arrangement Scheme, an Affordable Approach of Getting Rid Of Debt Burden

Gone are those days, when debt was seem as a heinous offence. In this modern age, civilization has really reached every facet of human endeavors. With the help of civilization, there are lots of debt free approaches established to relieve the pain and stress of debtors especially in Scotland. Of a truth, all these approaches have pros and cons attributes. You should not be overwhelmed with the beauty of any debt free strategy without considering its bad effects. Honestly, one of the affordable and fair debt free approaches in Scotland is debt arrangement scheme. Really, the inception of this debt free scheme has subdued other debt free strategies. This is because, of the effective of this scheme and its welfare-oriented attribute. 

Apparently, this debt free strategy is mainly established for Scottish resident in the United Kingdom. In that regard, as a Scottish citizen, you do not have to bother about how to get rid of your debt burden because the government has already named the issue of debt affordable and bearable for the debtors. All you need is to take the appropriate approach in order to achieve the fate of being free from debt. Indeed, you cannot do that right without a professional back up in debt management. For that reason, you should not hesitate to leverage the service of Debt Arrangement Scotland. This is a debt arrangement scheme agency that is made up professionals and experts that have many years’ experience in debt management.

Nevertheless, the inception of the internet has really added glamour to life unlike the ancient days. Indeed, the debt arrangement is accessible online. Honesty, all you need to know about this affordable debt free strategy is just at the tip of your fingers. With the help of your system connected to the internet, you can easily search in the search engine such as Google, Yahoo and others for you to gain general knowledge about this reigning debt free approach in Scotland. Moreover, you can also leverage the service of debt arrangement scheme just at your couch with ease.

What you will stand to gain after leveraging the service of debt arrangement scheme? Obviously, there are lots of advantages attributable for leveraging this service. Such advantages are not limited to the followings;

  • Protection of your possessions: Unlike other debt free strategies where the debtor’s business and equity at home are being held under the custody of the law and eventually sold, the debt arrangement scheme is exceptional. In that regard, you are allow to enjoy your luxurious possessions such as car, home, jewelries and others.
  • Consideration of your welfare first: By undertaking debt arrangement scheme, before any payment is made to the creditor, the interest of you and your family must be considered first before paying the creditors.
  • Payment of the precise sum of money own: Truly, in paying debt the accumulated interest and cost makes payment difficult. By leveraging this service, any extra cost and interest added to the amount own will be cancelled.

Top tips for managing monthly payments

Dealing with an enormous debt is one of the most stressful things in the world. Very often it can be a defining thing in someone’s life. Swimming out it often might look like an impossible task for many people that have never been faced with a big debt previously.

Nowadays, dealing with a large debt can be done without the usual stress that accompanies it. Anyone in Scotland with a debt can use the DAS. DAS stands for debt arrangement scheme and is introduced by the government to help Scotland’s citizens to easier deal with their debts. is where anyone with a debt can be informed how the program works and how to get in touch with one of their agents.

What you will find at is that they can make the most of the DAS and start consolidating your debt the moment you decide to use their services. Here is what you get if you option to use their services

Every interest and charge that you had will be frozen. You get to pay only the ones owed by entering the debt arrangement scheme.

DAS will protect all of you assets, assets such as car and home.

Your new payment rates will be adapted on your own circumstances. Meaning, you pay as much as you can afford.

The government of Scotland stands 100% behind this program so there is no worry that someone will take advantage of your situation.

Credit Card Debt Advice

cutcard2Credit card debt tends to increase rapidly. Unless you are able to curtail your expenditure, your credit card debts are going to rise up so fast that you won’t even be able to pay them back within the same month. Now, there are a lot of problems associated with paying off your credit card debts. First of all, failure to make payments on time will result in interest being piled on to your debt amount, which means that the overall amount will continue to increase. Since most people find it difficult to manage their credit card debt properly, here are a few pieces of advice that can prove to be of help:

Stop using the card immediately

Probably very straightforward, but is is still not practiced as frequently as it should be. If you have outstanding debts on a credit card, you need to stop using that card immediately and resort to cash payments. If you can’t, then you need to cut down your expenses altogether. Most people tend to think that the money from credit cards belongs to them; they forget that it belongs to the lenders. Therefore, it is important to cut down as quickly as possible.

Create a repayment schedule

Repayment schedules are probably the most effective option for people who are looking to clear off their bills. First of all, talk to your bank about the outstanding amount on your credit card, and then confirm with the bank all of the outstanding payments that are left. Then, create a proper repayment schedule to follow, and make sure that you stick to it. A lot of people often create repayment schedules, but fail to adhere to them. If you want to get rid of your credit card debts once and for all, you need to stick to the schedule!