Personal Debts Articles

Personal Debts

Understanding credit cards: Balance transfer vs money transfer

You may already know that shifting credit card debt from a high interest card over to a low interest one can save you a significant amount of money

Personal Debts

What to do if you are in debt to Klarna

While ‘buy now, pay later’ services like Klarna can feel like a shopper’s best friend, they can also be a fast track to debt.

Personal Debts

Debt and divorce – Understanding liability and what happens to marital assets

Just as marital assets are divided during divorce proceedings, responsibility for debt incurred during the marriage will also need to be split.

Personal Debts

Am I liable for my partner’s debt?

Liability for a partner’s debt depends on whether the borrowing is in joint names or your partner’s sole name. In essence, if the debt is in their sole name you cannot be held liable unless you ha...

Personal Debts

Dealing with rent arrears – Advice for Scottish residents

Keeping up with rent payments isn’t easy for a lot of Scottish residents but if you’ve found yourself unable to pay your landlord for any reason then you should look to take action sooner rather t...

Personal Debts

Can I write off my debts in Scotland?

If you cannot pay your debts in full over an extended period of time, you may be able to legally write off some or all of them using one of the formal debt solutions which are available in Scotland.

Personal Debts

Should I pay off my debts or save – or both?

If you have money left over at the end of the month, you may be wondering how best to use it. Should you pay off your debts, or is saving a better option? You might even be considering both.

Personal Debts

What happens if I can’t afford divorce legal fees?

The emotional strain of divorce can be overwhelming, and further exacerbated by uncertainty over money. Divorce is typically an expensive process, so what happens if you can’t afford to pay your div...

Personal Debts

Important advice on going bankrupt or declaring yourself bankrupt in Scotland

If you live in Scotland and are considering personal bankruptcy (sequestration), there are certain issues that you need to be aware of. These include an understanding of what will happen to your asset...

Personal Debts

How can I tell my partner I’m in debt?

Being in debt can be a huge burden that affects every part of your life, but one of the most difficult aspects is when you’re in a relationship, as it can be very difficult to tell your partner abou...

Personal Debts

Consequences of not paying your water bill in Scotland

The Scottish system of paying for water rates means that you receive notice of the amounts due within your council tax bill, if you don’t have a water meter fitted.

Personal Debts

Why Scottish individuals should be cautious of unregulated debt advice

As part of Scotland’s Financial Health Service, Scottish people in debt are obliged to obtain advice from an approved money advisor prior to entering insolvency processes such as the Debt Arrangemen...