Savings and loans • Fair and square


How to Manage your Debt

Our top tips.

How to Manage your Debt

In 2018 over 16,000 people signed a Trust Deed, agreed to Sequestration (Scottish term for bankruptcy) or entered into a D.A.S. (debt repayment process).  Many saw it as a quick and easy fix when their finances were heading out of control.  In some cases, Trust Deeds or Sequestration maybe “the solution” but they are not the “magic bullet”.  The impact can affect you for years credit rating wise so rather than hitting the internet for a solution be smart!!!

  1. Make a list of your debts, the monthly cost and your calculate your monthly free funds after all regular bills are paid.
  2. Approach your lenders and see if they will consider a debt consolidation loan or if not can they reduce payments/extend the term to ease monthly out goings.
  3. If it is not possible to re-finance then approach only a registered debt consulting service that is registered with the FCA (Financial Conduct Authority) or has Scottish Government approval.
  4. Do not bury your head in the sand and hope the debt collectors will go away - THEY WILL NOT.  Take positive action, get help and turn your life & finances around.


Get in Touch

We are here to help. Get in touch or visit us in branch where one of our team will be happy to help.

phone Created with Sketch.

0131 466 5006