Articles

Personal Debts

What is money attachment in Scotland?

Money attachment allows a creditor to ‘attach’ (seize) money which is located in a premises owned by the debtor. Money attachment can only be carried out following a decree issued by the courts.

Personal Debts

Do personal debts die with you?

When you die, your debts will be paid from your estate unless they were taken out in joint names, in which case the other person takes on liability for the full amount outstanding. If borrowing is in...

Bailiffs and Legal Action

What action can creditors take against you to recover debts?

If you’re struggling to repay personal debt, it’s important that you know the steps that creditors can take to recover their money.

Business Debt

What are personally guaranteed business loans?

If you personally guarantee a loan for your limited company it means you’re committing to repaying any outstanding balance in full in the event of the company being unable to do so.

Sequestration

What happens after you are discharged from sequestration?

Being discharged from sequestration represents a key moment in becoming debt-free, and signifies the beginning of an improved financial situation.

My partner and I are considering a joint loan, is it wise?

When taking out a joint loan, there are many things you need to consider. Signing up to a joint credit agreement is a huge commitment and it’s important to ensure you have all the facts before signi...

Credit Score

How to check your credit score for free

Knowing your credit score and keeping a regular eye on your credit file can prove incredibly beneficial if you wish to apply for a mortgage, credit card, loan or other type of credit. By checking your...

7 Sports That Scotland are Better at Than England…

Scotland’s rivalry with England dates back over 1,000 years to the Battle of Brunanburh when both countries would regularly brawl over territory, and this weekend draws stark similarities as another...

Budgeting

Nearest food banks in Scotland – what are your options?

The latest figures on the use of food banks in Scotland show a disproportionately high need by Scottish residents in terms of population numbers, when compared with any other area of the UK.

Bailiffs and Legal Action

I’m facing house repossession – what can I do?

If you are threatened with house repossession, you need to act quickly. You may be able to negotiate more time to pay – it is often the case that repossession can be stopped or temporarily halted, a...

Overcoming issues with tax credit overpayments

Tax credits are designed to help individuals and families top up their incomes when they are finding it difficult to pay for essential everyday expenses based on their ordinary incomes.

Bailiffs and Legal Action

What is a charge for payment in Scotland?

If you have been struggling with debt and have found yourself unable to make the required payments to your creditors, you may eventually be in the position where you creditors look to take further act...