Financial advisors are able to give you advice on investment opportunities, tax and wealth management. The types of financial products that typically seem out of reach for people struggling with unaffordable debts.
Fully qualified financial advisors can give you advice on anything from mortgages to pensions but surprisingly, financial advisors help with debt extends to only making a referral to a qualified debt advisor.
In order to be able to offer you the correct debt advice, an individual should be qualified in the correct discipline.
However, help with debt can be sought from a variety of places – most of which, will give you help with debt without charging a fee for their advice.
Debt Problems – What to do and where to get help?
If you have debt problems and you’re wondering what to do and where to get help with your debts, the good news is that no debt problems are unsolvable.
It might not always be quick or easy, but there’s normally always a route to resolving debt problems, from one credit card default to cases where an individual can owe tends of thousands of pounds to a number of their lenders.
It just wouldn’t typically be a financial advisor who would help you with your debts.
When you have debt problems in Scotland, the earlier you deal with your debts, the easier they are to deal with and sometimes, the debt problems may not require a complete overhaul of your outgoings – it may be possible to come to an arrangement with the people you owe money to, also refered to as your creditors.
If you have debt problems that are unaffordable, you can get free debt advice in Scotland from Trust Deed Scotland®, or alternatively you can approach a local money advisor or debt charity in Scotland.
At Trust Deed Scotland®, we’re proud of our record in the industry, having helped over 20,000 people in Scotland, and fastly approaching over 3,000 reviews from our clients. For us, we feel it’s important that when you do have debt problems, and you are looking at where to get help, that you are able to get the best advice.
Ultimately, if you have dop have debt problems – our advisors would talk through your situation, and give you balanced advice that puts you in control of the decision, knowing all the facts and alternatives.
How to get help with debt in Scotland?
As Trust Deed Scotland® is owned and operated in Scotland, we’re experts in Scottish debt solutions.
It may be a surprise to learn that getting help with debt in Scotland is different from the process in England, Wales or Northern Ireland – thanks mostly to our unique legislation we have in Scotland. You may have heard about IVAs, which are a solution open to people south of the border but you’re unsure of the differences between IVAs and Trust Deeds.
It’s another reason why financial advisors can’t help with debt as they simply don’t know the legislation as much about the pros and cons, as an FCA regulated company such as Trust Deed Scotland®.
Similarly, it’s also possible to investigate other ways to clear your debts including debt consolidation loans in Scotland, but this can sometimes cause more problems if undertaken without examining the cause for debt in the first place, and more precisely – your affordability.
If you’re looking at how to get help with debt in Scotland, you can find out more about managing your money and get free advice, by visiting the Money Advice Service, an independent service set up to help people manage their money.
Who can help me with debt?
Few people actively seek to deliberately get themselves into debt. While it’s also true that debt comes from spending money you don’t have, in reality, it’s a change in circumstances, like personal illness, divorce, mental health problems, losing your job, or a sudden trauma caused by the death of a partner rather than frivolous reasons.
Some of these changes in your circumstances can combine together to create a debt spiral and added to this, there is still a stigma attached to debt, meaning that people struggle on without seeking help with their debts.
You may already be aware of the terminology thanks to ads on that you’ve seen on TV, radio, or social media and ask yourself the question of Is A Trust Deed A Good Idea?
This question is common and while Trust Deeds are a good solution for those individuals who are eligible for it, in truth there are other solutions such as the Debt Arrangement Scheme, or Minimal Asset Process, which is a form of bankruptcy aimed at people who are struggling with debts. While it’s a solution that shouldn’t be taken lightly, it can be a better solution for some individuals.
In short, if you’re asking who can help you with debt – the best advice that we can give you is to seek help immediately and get an idea of what your options are.
If you do something about your debt today, you can stop worrying about it tomorrow.
Are you ashamed of your debt? Talking about debt is the first step to tackling it.
Only a qualified Insolvency Practitioner can formally setup a Trust Deed or Sequestration. And only an Insolvency Practitioner or Money Adviser can setup and maintain a Debt Payment Programme as part of a Debt Arrangement Scheme.
Call us on 0141 221 0999 today for a confidential chat with one of our qualified, expert debt advisors. The debt advice that we offer is non-judgemental and we’ve been able to give over 20,000 people help with their debts in Scotland. We’re also rated no.1 on Trustpilot in the Debt Relief category, which is largely thanks to our ongoing commitments to treating clients fairly, training and compliance.