Frequently Asked Questions

Frequently Asked Questions

We are asked a wide variety of questions on the many debt issues that people face. Here is a selection of the most common ones which we hope you will find helpful. For more information or specific advice then you can email us here or simply call us and speak to one of our experienced debt advisors.

What kind of debt help do you provide?

We provide help and advice on all personal debt problems and issues. Our staff are experienced and trained debt advisors who will assess your situation and advise on the best options to improve your financial situation.

Will you handle my lenders?

Yes we will speak to your lenders and take action depending on the status and severity of your problem.

I owe so much, can you still help?

It doesn’t matter how much you owe we will find a solution. Sometimes the amount of debt owed will determine the type of solution required.

Would someone explain, what is a dmp?

A dmp is short for a debt management plan which is an agreement with your creditors to pay a reduced monthly payment.

I was wondering, how does a dmp work?

A dmp is normally arranged through a debt management company and is an informal agreement with your creditors.

Tell me, who works out the pay plan?

The amount you agree to pay is worked out by the debt management company in correspondence with your creditors.

What if things are out of control and my financial difficulties are large?

It doesn’t matter how much debt you are in we will find a solution that works.

Do you help with credit card debt?

Yes, we help with all type of debt.

Can you tell me, how do you pick from all the debt management companies?

You’re better leaving that to us as we have already assessed the main ones.

How do I find out who are the best debt managers?

There are many good debt managers out there, but call us first and find out for yourself why our clients rate us so highly.

Probably not an easy question but where can I get the best money advice?

You should start with a firm that offers independent advice and take the time to listen to your problems.

So what is a debt management programme?

A debt management programme is the plan you arrange with the debt management company.

Can someone tell me who offers the best credit solutions in Scotland?

We may be accused of being biased with this answer but we would say the best people to ask this question of would be our existing clients.

The question is will I qualify for a debt management program?

The answer is it depends on your circumstances. Call now to find out.

Can I contact the debt managers anytime?

You can if you deal with us.

I heard that a DMP in Scotland is different from elsewhere, is that so?

No, a DMP is pretty much the same throughout the UK but a debt arrangement scheme is unique to Scotland.

Just enquiring, what is bankruptcy?

Bankruptcy is a legal process that allows you to write of your unaffordable debt.

So what is sequestration?

Sequestration is Scottish Bankruptcy, they are both the same.

I need to know if there is a difference between bankruptcy and sequestration in Scotland?

No difference they are the same.

How do you make yourself bankrupt?

In Scotland you are now allowed to apply for your own bankruptcy but it must be done through a licensed insolvency practitioner.

I’d like to know what happens after I’m bankrupt?

There’s a process to go through which means restrictions on things like taking on new debt but generally after one year you will be discharged.

I was wondering if someone else can make me bankrupt in Scotland?

Yes any of your creditors can apply if they are owed more than £3000.

Where do I get insolvency advice in Scotland?

Right here and from any insolvency practitioner.

Timescales are important so if I go bankrupt how long does it last?

Timescales vary but generally people are discharged after a year.

I am at the stage where my creditors are threatening legal action, what are my options?

There are a number of options available to you but you need to seek professional advice to ensure you take the right one for your particular circumstances.

Is there a chance I will lose my house with sequestration?

There are safeguards built in but it depends on the circumstances so you need to take professional advice.

UK locations

Covering the whole of the UK

About us

» We are an independant organisation setup to help people across the UK solve their debt problems. Our debt managers help poeple everyday to improve their finances and get their lives back on track. Read more

Get in Touch

Head office:

16 Woodside Crescent,
Glasgow, G3 7UT

0800 007 5021
To view our other UK offices click here.