- Trust Deed in Scotland failed or about to fail?
- Are you worrying about how to find solutions to manage debt now a Trust Deed has failed?
- Can you afford to contribute anything towards your creditors on a monthly basis?
There are solutions available to people who have failed a Scottish Trust Deed!
The personal debt solutions available are those that would have also been available to the person in debt prior to them selecting the Protected Trust Deed route / option.
- Informal Debt Management Plans
- Debt Arrangement Scheme or DAS Scotland (Scotland only)
- Sequestration (Bankruptcy in Scotland)
LILA – This is an Insolvency scheme which acts as a route to avoid longer term bankruptcy / Sequestration, the name LILA means “Low Income Low Asset”. To qualify for a LILA solution you need to meet the following criteria.
- Weekly earnings need to be less than you would get if you worked a 40 hr minimum wage week.
- You cannot have assets that are worth more than £10,000 in total.
- No individual asset can be valued at £1,000 or more.
If you have suffered a further change in circumstance and your Trust Deed in Scotland has failed or about to fail, please contact our personal debt helpline today in confidence using 0800 018 6868
- Lines are open 24 hours / 7 days
- Calls are usually free from a UK land line
- From mobiles calls may be less expensive using 0161 872 3383
