What happens if your pay doesn’t stretch to pay all your bills this month?What bills will get paid and which ones won’t?
We’ve all felt that feeling of dread when the last week before pay day looms into view and you’re forced to start counting the pennies.
Stretching out the last few quid until your next payday is a miserable experience and we all have unexpected surprises that end up blowing even the best planned budget.
So it’s easy to see why you may have been tempted to run up your credit card, borrow money from your family and friends, skip bills or debt repayments, take out a short-term payday loan, or maybe go into and over your overdraft limit to tide you over.
Are your monthly repayments still really affordable?
You may have temporarily eased the financial strain by taking on additional debt but the financial hangover in the long run means you'll have just as much to pay off – if not more, thanks to interest rates on the outstanding amount.
And so it all begins again next month - only earlier.
DOWNLOAD OUR FREE DEBT GUIDE
It’s time to break the cycle with Debt Advisory Services Scotland.
If you are stressed, and worried of being unable to make your monthly repayments to your creditors, then it may be time to look for professional help and advice.
The first step is always the hardest, but admitting to yourself that you have a problem and by taking action sooner rather than later by talking to someone who can provide impartial and confidential advice, the easier and quicker it will be for you to get your finances back under control.
We at Debt Advisory Services (Scotland) are friendly and knowledgeable experts in debt management solutions and have years of experience in helping people get their finances back under control and become debt free.
Debt Management Plans
A Debt Management Plan (DMP) is an informal agreement designed to allow people who are struggling to meet their monthly debt repayments, the opportunity to make a single, more affordable monthly payment via a debt management company.
The debt management company passes the payments every month to the debtor’s creditors until the debts are cleared.
The debt management company negotiates with the creditors to freeze or reduce interest and charges being made to the accounts.
A DMP may be appropriate if you have a temporary financial problem or if you can’t or don’t want to re-mortgage.
If you live in Scotland and cannot afford to keep up payments on loans and credit cards, a Trust Deed may be the best debt solution for you.
A Trust Deed is a legally binding agreement between you and your creditors where you agree to pay an affordable monthly payment over an agreed period of time (normally 3 years).
A Trust Deed, which can only be arranged through a qualified and licensed Insolvency Practitioner, can be recorded in the Register of Insolvencies as a Protected Trust Deed providing it meets certain conditions.
Additional Debt Solutions
Other potential debt solutions include consolidation loans, sequestration and a Debt Arrangement Scheme
Careful consideration should be taken before choosing any debt solution.
Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.
Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems
Debt Advisory Services (Scotland) Limited can help point you in the right direction, providing you with friendly, professional and confidential advice when you need it most.
We regularly receive testimonials from people that we have helped.Read what they have to say and you will see just how much they value our service.
“Thank you for a first class service, I have already recommended you to my friends. For the first time in my life I am completely debt free and living within my means. You have lifted a great weight of worry from me and I will always appreciate what Debt Advisory Services (Scotland) Limited did for me. “ GS “Just a little note to say thanks for all your help and understanding. The relief I have now is fantastic.” Mrs CL
“Thank you for pointing me in the right way. I don’t know what I would have done without you. Before I contacted you, I had spoken to a few other companies and felt quite confused because of the conflicting information I was given by them. When I spoke to you, I fully understood the options that your staff explained. Your staff explained everything to me in plain English." KD
“I know we have asked a lot from you but we have found your service to be very helpful. We would have been in a terrible mess without your support and help.” Mrs JT “Just like to say how delighted we are with the professional and considerate way you went about helping us with our debt problems.” Mr and Mrs J “Thank you for all the help you have given me over the years, it is appreciated” MS