New Year, New You, No Debt - Looking to Manage Your Debts in 2012?

Posted on Saturday, 31 December 2011 in Debt NewsIn 2011 many people in Scotland used government created legislation to repay their personal debts and in 2012 many more individuals will be set to do the same.

One of the most popular New Years resolutions people make is to wipe out their debts, vowing to budget, save and cutback in order to resolve overdue arrears and outstanding credit card interest build-ups.

While pursuing a course of frugality may help individuals with debt to get their finances back on track, the harsh reality for many Scots is that this is no longer a viable option and not before long, some people may be utilising short term fixes such as Payday loans somewhat sooner than they would have expected to.

If you are struggling to repay unsecured debts such as credit card debts and bank overdrafts, you can take the best possible step by speaking to a qualified money adviser and a service such as Citizens Advice Scotland offer impartial advice for free.

It may still be possible for you to self-manage your debts and agree repayment between yourself and your creditors. If you feel however that you are beyond this stage, your debts are insurmountable and you are no longer able to realistically manage your unsecured debts, there are ways of managing your debts that you may not be aware of.

A Scottish Trust Deed is a type of personal insolvency that helps people with unsecured debts of over £10,000 to repay their debt within typically 36 months and the repayment proposal is based on your own affordability to pay off your debts within a realistic timescale.

Debt Arrangement Schemes are an alternative method that allows you to repay your debts and get the creditor interest and charges legally frozen.

There are many pros and cons to both these solutions and of course there are other ways that you can manage your debts in Scotland but it is important that you discuss your circumstances with an experienced money advisor in order to establish which option is best for YOU and YOUR circumstances.

Many New Years Resolutions are made and quickly broken every year including quitting smoking and losing weight but if you truly want to realise your resolution and tackle your debt, you can speak to someone at Trust Deed Scotland today on 0141 221 0999 or you can use the Trust Deed Wizard to get an online instant indication of your eligibility.

Your Employment Status --SELECT-- Employed Unemployed Self-Employed Retired Student Your Total Unsecured Debts --SELECT-- £1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 £8,000 £9,000 £10,000 £11,000 £12,000 £13,000 £14,000 £15,000 £16,000 £17,000 £18,000 £19,000 £20,000 £21,000 £22,000 £23,000 £24,000 £25,000 £26,000 £27,000 £28,000 £29,000 £30,000 £31,000 £32,000 £33,000 £34,000 £35,000 £36,000 £37,000 £38,000 £39,000 £40,000 £41,000 £42,000 £43,000 £44,000 £45,000 £46,000 £47,000 £48,000 £49,000 £50,000 £51,000 £52,000 £53,000 £54,000 £55,000 Over £55,000 This includes unsecured loans, credit cards, council tax arrears, bank overdrafts etc.

Note - student loans cannot be included in a Trust Deed. Your Monthly Net Income This is your monthly take home pay including any other income

Example
Take home pay £1200
Child tax credit £200
Total net income £1400 Your Monthly Expenditure This includes all rent or mortgage payments and all other fixed outgoings that you pay each month.

Excluding your payments for your unsecured debt. Are You A Homeowner? --SELECT-- Yes No

(Homeowners) Estimated Equity None Don't Know 5000-10000 11000-20000 21000-30000 31000-40000 50000+ Equity Example:
Mortgage - 72k
House Value - 80k
Your Equity - £8000

Dont worry if you don't know your equity.
Just call us on 0141 221 0999

Your Nearest City --SELECT-- Glasgow Edinburgh Stirling Perth Dundee Aberdeen Inverness We have a network of Trust Deed providers throughout Scotland

Your location will help us recommend the best providers.

Title --SELECT-- Mr Ms Miss Mrs Other First Name Last Name Email Address Phone Number Why Do We Need Your Phone Number?

Although you will get an instant quote indication, we still need to contact you to get more detailed information regarding your financial circumstances.
All calls confidential.

Your privacy is important to us. Your Details are held in the strictest of confidence and we will only request information required to find your best solution. Your details will NOT be shared with third parties.

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