Debt solutions · 6 min read
Debt solutions in Scotland: Trust Deeds, DAS and sequestration
If you live in Scotland, the debt solutions available to you are different from those in England, Wales and Northern Ireland. Here are the three main options.
Protected Trust Deed
A Trust Deed is a formal agreement to pay what you can afford towards your debts, usually over four years, administered by an insolvency practitioner acting as trustee. Once it becomes 'protected', creditors cannot take further action, and remaining included debts are written off at the end.
Debt Arrangement Scheme (DAS)
DAS lets you repay your debts in full over a longer period through a Debt Payment Programme. Interest, fees and charges are frozen, and creditors are prevented from taking action while you keep up payments. It can suit people who want to repay in full and protect their home.
Sequestration
Sequestration is the Scottish term for bankruptcy. You apply through the Accountant in Bankruptcy. There is also a Minimal Asset Process (MAP) route for people with low income and few assets.
Which is right for me?
Your income, assets and whether you own a home all make a difference. Our friendly UK team can introduce you to a provider who works with Scottish debt solutions.
This article is general information only and may not reflect your circumstances. Rules and limits can change, so always check the details with an authorised provider before making a decision.
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Why do we ask this?
Your total debt amount helps us match you with solutions designed for your level of borrowing.
