Debt is now a fact of daily life for people throughout the UK, and with personal debt levels soaring, many people are increasingly facing significant financial difficulties. At Fraser James Partnership Ltd we offer our clients tailored debt solutions via Citizen Advice Bureau or insolvency practitioners. We know that when facing financial difficulties the first step is to speak to someone. The earlier you recognise there is a debt issue, the easier it is to manage.
Debt solutions in Scotland are different to the rest of the UK because the laws are different. It's therefore important to speak to someone who fully understands the options, to make sure you do not overlook or discount a debt solution which may work well for you. In brief, there are three debt solutions currently available:
- Debt management plan
- Trust deed
In choosing one of these solutions it is likely your ability to obtain credit will be affected in the short term, and might be affected in the medium to long term. Fees payable are subject to status. Conditions apply. Repaying debt over a longer period may increase the total amount to be paid.
Debt management plans are now authorised and regulated by the FCA. We refer all our clients to Citizen Advice Bureau or insolvency practitioners.
At Fraser James Partnership Ltd, we believe there is always a solution.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it.