Debt Arrangement Scheme

The Debt Arrangement Scheme can help you pay your debts in a managed way and free from creditor pressure. The start of the process is to approach a Money Adviser for advice on the solutions available to you. This is often free but some may charge you for their services. If you and they conclude that the DAS scheme is the best solution for you they will put you in touch with a DAS Approved Money Advisor to arrange a Debt Payment Programme.

Find out more about a Debt Arrangement Scheme

Bankruptcy / Sequestration

Bankruptcy is often known as sequestration in Scotland. Bankruptcy arises in some circumstances because the debtor seeks to enter into sequestration. In other circumstances bankruptcy can arise because a creditor wishes to bankrupt the debtor.

Find out more about Bankruptcy

Certificate For Sequestration

The Certificate for Sequestration is a relatively new route to bankruptcy in Scotland. It may be of assistance to people who do not meet income or asset requirements for LILA Bankruptcy and who are not in a position to maintain a sufficient payment ot a Trust Deed.

Find out more about a Certificate For Sequestration

LILA Sequestration

LILA stands for “low income and low assets” and has been introduced to help those trapped between not being able to repay their debts and who were unable to declare themselves bankrupt. In many cases it may be a more appropriate solution than Protected Trust Deeds or the Debt Arrangement Scheme.

Find out more about LILA Sequestration

Debt Management Plans

Debt management plans (or DMP’s) are a method for someone who cannot afford their current debt repayments to repay their creditors at an affordable rate. As such it is a valid alternative to Protected Trust Deeds in certain circumstances.

Find out more about a Debt Management Plan

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