A Scottish Trust Deed can help you get out of debt in 48 months. The agreement can help reduce your monthly payments and prevent creditors taking legal action.
A Debt Arrangement Scheme allows you to freeze and discount interests, penalties and charges. Like a Trust Deed, it can protect you from creditors taking legal action.
Also known as sequestration in Scotland, bankruptcy is a legal procedure which acknowledges that you can no longer afford to pay back your debts and prevents creditors from pursuing the money owed. The debt is eventually written off.