Alternative Debt Solutions

Here are some of the other alternative debt solutions available to Consumers;

Scottish Debt Management

Scottish Debt Management is an informal arrangement between you and your creditors to repay your debts at a reduced rate. It is mainly used a temporary measure, i.e. if you have been made redundant from your job and you need a little breathing space until you find a new one.
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IVA

Unlike Debt Management, an IVa is a FORMAL arrangement between you and your creditors. It is legally binding and allows you to repay only what you can afford over a 60 month period (5 Years). Any remaining debt left over after the period is legally writen off.
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Bankruptcy

For some of us bankruptcy is the only option. The process is relatively simple and not as daunting as you may think.
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Sequestration

Sequestration is the Scottish form of bankruptcy.
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