Debt Advice

It’s a sad fact that more and more people are struggling with debt, particularly at a time when everyone is feeling the pinch. At Simple Financial Solutions we are experienced at helping people with their debt problems and can present the best options available to you.

 

Simple Financial Solutions do not charge for debt advice but we do charge for any services we provide in relation to debt solutions including:

 

  • Individual Voluntary Arrangement (IVA)
  • Debt Management
  • Scottish Trust Deeds
  • Bankruptcy
  • Sequestration

 

We list our fees ofr each product here. To discuss which route may best suit your circumstances call us on 0800 043 2027 to speak to one of our specialist advisors.

Free Debt Advice Services

 

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The Money Advice Service is an independent service set up by the government to help people manage their money. If you would like to look at alternatives to Simple Financial Solutions, The Money Advice Service provides details of organisations that provide free debt advice and services. Click here for more infromation.

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Write Off Unaffordable Debts

In most circumstances an award of Bankruptcy will allow you to write off most of what you cannot afford to repay, i.e. liabilties such as unsecured loans and credit card debts will be dealt with by your Trustee. Note: There are some debts that cannot be written off. Click here* for more information on the limitations.
 

Free From Debt Pressures

Unlike a Trust Deed Scotland, Sequestration can make you totally free from provable debts, although you will have to make a contribution from your income for 3 years if you can afford to. Your Trustee takes over dealing with your creditors and you will be totally debt free subject to some limitations depending on your circumstances.
 

Government Legislation

A Sequestration is under the control of the Scottish Government and is intended to help people who are struggling wither finances. An award of Bankruptcy is not a debt management plan or IVA, meaning there are no regular monthly repayments to make, if you have no surplus income after meeting your normal monthly outgoings.

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