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For lots of Scots who are struggling with their debts there are some simple tips available to help them become debt free and this is the Scotland’s Trust Deed guide for doing so.

There’s no doubt that growing numbers of Scots are struggling with their finances and the financial regulator recently warned that the level of debt in the UK is now reaching the same levels we saw at the height of the credit crisis in September 2008.

Indeed, there are lots of households that are in deep financial trouble and even a small change to their current circumstances would tip them over.

So, what can you do if you are worried about your financial situation? Here are a few tips to help you get back on a healthy financial track.

Do not ignore bills

Even though it’s tempting, ignoring bills will not make them go away and will make the situation worse.

It best to write down all of your debts and how much you owe and when the bills are meant to be repaid. This step will help you appreciate your real financial situation.

Make a budget and stick to it

The next step after knowing how much you owe is then to make a detailed budget so you appreciate how much money is coming in and how much is going out.

This then leaves a realistic amount that you can afford to pay towards debts every month.

You need to appreciate that there are priority bills such as paying your mortgage or rent as well as council tax because failing to pay them could lead to court action.

Reduce household bills

Now that you have a realistic budget you will have to cut back on some luxuries and also appreciate whether you are paying too much for some of your household bills.

For example, you could save money by switching energy suppliers for your gas and electricity.

This might also be the point to find a cheaper credit card and have your balance transferred for a 0% deal.

Earn extra money

To help boost the amount of money you have to spend, think of ways of earning extra money, for example selling unwanted items such as DVDs, clothes and books.

Check your benefits

While it’s complex, the benefits system may offer financial help depending on your income and personal circumstances.

Don’t be shy and ask for help

As we mentioned, ignoring your debt isn’t the best tactic so you should ask for help from an organisation that is in a position to offer advice.

Experienced debt advisers available

One of these is Scotland’s Trust Deed and there’s a team of experienced debt advisers available to offer impartial help which means you don’t have to follow what they say but you will find the conversation useful.

Indeed, even if you’ve reduced your spending and are still struggling to make ends meet then you shouldn’t worry alone – Scotland’s Trust Deed can help with a number of debt solutions for people in Scotland including the undertaking of a trust deed, a debt arrangement scheme or sequestration.