Bank finance articles and tips

A Scottish trust deed normally runs for a period of three years; in the rest of the UK the broadly-equivalent IVA debt solution normally runs for five years. Sequestration in Scotland requires a £100 application fee; in the rest of the UK you'll need to find £700 to become bankrupt. The new Certificate for Sequestration in Scotland has unblocked the route to sequestration for many people that were previously trapped in debt. The Debt Arrangement Scheme in Scotland guarantees the freezing of interest and prevents legal debt recovery action against the debtor or their home; a debt management plan elsewhere in the UK provides none of these benefits. The politicians of Scotland appear to have designed and maintained a framework of debt remedies for Scottish residents that compares extremely well to the framework in the rest of the UK.