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Can I get the interest frozen on my debts in Scotland?

Personal Debts

Sharon McDougall - Updated - 24th April 2025 - 3 minutes to read

How to stop interest being added to your debts in Scotland

When it comes to debt, one of the major problems people face is the interest which is added to the outstanding balance.

In some cases, the minimum monthly payment asked for simply covers the interest and does not even make a dent in the total balance. This can leave people in an inescapable debt cycle which sees individuals treading water and never actually making progress in paying down their debt.

How can I repay my debts with high interest being added?

In Scotland, there are two main debt solutions available which can help you break this debt cycle. These are:

· Debt Arrangement Scheme – The Debt Arrangement Scheme (DAS) is a government-backed debt repayment plan which allows an individual to pay back the money they owe in a manner which is affordable. No debt will be written off as part of a DAS, however, the plan can last many years, and the monthly repayments will be set at a level which is affordable.

· Trust Deed – A Trust Deed is the Scottish equivalent of an IVA, and functions as a formal repayment plan which typically lasts for 4 years. During this time an individual makes a series of monthly instalments towards their debts, with any debt remaining after this point being written off.

A major advantage of both of these debt solutions is that they allow for the interest on your debts to be frozen. This gives you the ability to actually clear the money you owe and bring the balance down with every repayment you make

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Get a rough indication of what your repayments might be under each of our different debt solutions.

Are there any other ways I can get the interest frozen on my debts?

If you do not wish to enter into a formal debt solution, such as a Trust Deed or a Debt Arrangement Scheme, you may still be able to get the interest on your debts frozen depending on your individual circumstances.

If you want the interest on your debts frozen, you can ask your creditors whether they would be willing to do this. While they are under no requirement to freeze the interest on your debts, creditors are required to treat their customers fairly.

You are only likely to be able to get the interest frozen on your debts if you are in financial difficulties. Simply deciding that you no longer want to pay interest, when you are able to afford to do so, will not be accepted by your lenders.

If you have fallen behind in your monthly payments, however, and you see no way of being able to repay your debts, creditors may be willing to enter into negotiations with you in order to come to a mutually agreeable solution which may involve freezing the interest

What can I do if a lender refuses to freeze the interest on my debts in Scotland?

If your creditors are not willing to freeze the interest on your outstanding debts, and you are struggling to repay what you owe, you may need to consider entering into a formal debt solution.

While these debt solutions – including Trust Deeds and Debt Arrangement Schemes – will have a negative impact on your credit rating, it is usually much more preferable to go down this route than continue to struggle alone.

Not only will the interest on your debts be frozen as part of a Trust Deed or Debt Arrangement Scheme, this type of formal plan will also stop your creditors from contacting you or taking any further action against you, while also giving you a date to aim towards when you know you will be debt-free.

How Scotland Debt Solutions can help

If you are looking to have the interest on your debts frozen, speak to the experts at Scotland Debt Solutions. Our team of specialist debt advisors can help you understand the options available to you and take over all contact with your creditors on your behalf.

To learn more about how we can help you get the interest on your debts frozen, speak to a member of the team today.

Sharon McDougall

Manager

Can I get the interest frozen on my debts in Scotland?

When it comes to debt, one of the major problems people face is the interest which is added to the outstanding balance.

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A Trust Deed involves making a monthly contribution to your debts for up to four years. After this time any remaining debt included in the Trust Deed will not need to be paid.

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A Debt Arrangement Scheme (DAS) lets you pay off your debt through a series of manageable instalments over a reasonable length of time.

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