Independent Advice
No Bankruptcy. No loss of Dignity
IVA Scotland
IVA Scotland: The Best Way Out of your Debt (Without More Debt!)
Apply For The Best IVA or Debt Relief Plan For Your Own Circumstances
Independent Advice. No Bankruptcy. No loss of Dignity.
The equivalent of an IVA in Scotland is the Protected Trust Deed. IVAs as such are not available north of the border. The Protected Trust Deed is the equivalent of an IVA, Scotland's own historically highly successful instrument against personal debt and a much better alternative to sequestration.
One chief benefit is that it will immediately reduce the debt by a large proportion. A Protected Trust Deed can write off as much as 90% of your unsecured debt (while the amount an IVA is able to write off seldom exceeds 70% in practice). This great cut in the amount of debt makes a considerable difference and is the chief thing that distinguishes this from an otherwise conventional debt management plan. Therefore people seeking help for debt relief should apply for one of these over a conventional program on all occasions.
Most sorts of Trust Deeds in Scotland will be made to run over a period of three years, although this can be made to vary. At the conclusion of the term the debt is said to be discharged and the client exonerated. All records of the various debts which have hitherto been registered against the client's name and address will be deleted from the records on the authority of the law.
A Protected Trust Deed in Scotland is a highly useful instrument and most would jump at the chance of entering into one because it is legally binding and discharges the holder from the entire debt when the agreed term has been completed. It is a much more amiable response to long-term debt than other sterner measures such as bankruptcy or sequestration and carries none of bankruptcy's stigma.
So complete the application form below for impartial advice that's best for you.
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People resident in Scotland should apply for a Protected Trust Deed under Scottish law.