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One of the big problems for people worried about money and how to repay debts is how this affects us in our working lives and this is also true for Scots in debt as well.

A new survey has revealed that a quarter of workers are so worried about their money problems that it affects their ability to do their job properly.

Those are the findings from a survey carried out by CIPD of 1,800 employees and they say that young workers, those aged between 18 and 24, are more prone to worrying with 31% saying money problems is causing them issues.

Indeed, the problem isn’t just about those on low wages struggling with money – one in five people who earn between £45,000 and £60,000 say their financial anxiety is also affecting their abilities at work.

The survey also shows that it is more likely to be women who worry about money than men with 28% of women saying their money worries were a concern.

Employers to focus on their employees’ financial well-being

Now the CIPD is calling on employers to focus on their employees’ financial well-being to help boost productivity and health.

Indeed, when questioned about how financial worries impact on their productivity, the loss of sleep leading to physical fatigue is a great concern for 19% of those questioned.

However, for people living in Scotland who are worried about their financial situation and how to repay debts, help is at hand.

That’s because there’s a helpful and impartial team of debt advisers at Scotland’s Trust Deed who can discuss the potential solutions.

There’s also an online debt test available that will also point people struggling with debts in Scotland in the right direction too.

Ways to resolve debt problems

There are a range of ways to resolve debt problems and for those living in Scotland they include undertaking a trust deed.

The trust deed is an effective way for someone to repay their debts at an amount they can afford and this tends to be over a longer period, which can be for up to four years.

The attraction for a trust deed is the amount of debt that is remaining when the term ends is called unaffordable and will be written off by creditors.

There’s also a similar route available for people living in Scotland which is the Scottish government-run debt arrangement scheme.

Again, this is a way for a Scot to repay their creditors at a lower, more affordable amount and over a longer period of time.

The terms of a debt arrangement scheme

However, under the terms of a debt arrangement scheme, the entire amount will be repaid to creditors.

Indeed, the helpful team of debt advisers at Scotland’s Trust Deed can also discuss other potential avenues for resolving debt in Scotland which may include an informal negotiation with creditors, debt consolidation and write off as well as a full and final settlement.

The advisers can also discuss the merits of a debt management plan as well as sequestration, which is a form of bankruptcy – but careful thought needs to be taken before undertaking sequestration.

For more help and advice for people in Scotland who are struggling with debts and have financial worries, the team at Scotland’s Trust Deed will offer impartial help and advice to put them back onto the road to financial well-being once again.