Other Debt Solutions

The 4 primary debt solutions in Scotland consist of the Trust Deed (Scottish version of the IVA), The Debt Arrangement Scheme, Sequestration and the LILA. Which solution is best for the individual is entirely dependent on personal finances and the ability to repay the debts. Clients with valuable assets such as home or car should always be thorough and specific with their finances as any discrepancies from creditors in the future could affect you negatively especially by forcing you into sequestration by court  action or extending your bankruptcy period if you have already entered into sequestration.