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
One chief benefit
of an IVA in Scotland (or PTD) is that it will immediately reduce the
debt by a large proportion.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.
Complete the application
form below for impartial advice that's best for you.
If you have at least
two accounts in debt, and total debts of £2,000 or more, use the
form below to see if you qualify. (If you owe less than this, or are
on state benefits, then use this
link to apply.)
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget for
all necessary expenditure including rent or mortgage, council tax and
utility bills, etc., and any other necessary outgoings related to the
upkeep of your household and inrelation to any specific circumstances
that may relate to you. This website only collects data on behalf of
debt management professionals, from which it will receive affiliate
remuneration for data collection only and does not itself engage in
any debt management services. Other debt management options are available
and may be more suitable. People entering into an IVA or debt management
will have this entered on their credit profile and this may affect their
ability to get credit in the short term or even in the long term in
some cases. It is free to apply from this website; you will be given
advice by debt management professionals and a 'cooling off' period,
by law, to decide whether or not the debt management plan is suitable
for you, and you should be aware that a fee will be chargeable upon
a successful arrangement, as with any commercial transaction. Failure
to meet the repayments on an IVA or any debt management programme may
result in serious consequences, including, but not limited to, bankruptcy.
Bankruptcies, CCJs and similar defaults will be entered into a public
register and will remain there for a statutory period of not less than
six (6) years.
Credit Licence number 633327.
a look at the Insolvency Service's leaflet called 'In Debt', downloadable