Posted by & filed under News.

New poll results have shown that in the past few years there has been a significant increase in the number of Scottish people struggling financially.

This is something that the team at Scotland’s Trust Deed would agree with as we have witnessed a rise in the number of Scots turning to us for help.

Figures collated through consumer studies have revealed that the percentage of workers who are finding it difficult to get by on their present income has increased from 21% in 2017 to 25% in 2019.

These worrying statistics came from polling carried out by one debt charity in Scotland and a spokeswoman said: “These figures highlight the strain that people are under in Scotland. Many people who are in work are finding it hard to pay bills and put food on the table.”

Alongside this disturbing rise, there has also been a decrease in the number of Scottish citizens who feel that they are able to “live comfortably” on the amount of money they currently earn. In 2017, the figure was 38% and it’s now 35%.

Debt advisors at Scotland’s Trust Deed

The people being helped by the debt advisors at Scotland’s Trust Deed find themselves in financial difficulty due to the steadily increasing cost of living, wages that aren’t rising and government cuts within the social security system.

It’s important that Scots access the benefits they are entitled to. This can be done through the Financial Health Check service available from Citizens Advice Scotland and can reveal an entitlement to lower energy bills and council tax rates.

If extra money does not ease your financial pressures, then contact Scotland’s Trust Deed’s team of friendly, experienced and sympathetic professionals. They will be happy to go through the options available and check which you will be eligible for.

A Trust Deed

  • This is a contract, bound by law, between you and your lenders. Once your trust deed becomes ‘protected’ it allows you to pay what you can afford.
  • Scotland’s Trust Deed will conduct negotiations for you and appoint a ‘trustee’ who will oversee your finances.
  • A Trust Deed will last 48 months.
  • You must owe at least £5,000.
  • All assets must be declared though you should be allowed to keep your home.
  • You won’t be chased for money by your creditors once the trust deed is in place.

Debt Arrangement Scheme (DAS)

  • A DAS is a tool used effectively by the government of Scotland to help people out of unmanageable debt.
  • Your income and debts will be studied by a trustee and a budget decided upon.
  • A scheme of lower, more affordable, payments will be agreed to.
  • The length of time in which the debt will be re-paid must be ‘reasonable’.
  • Your creditors won’t be allowed to harass you for more if agreed payments are made in full and on time.

Contact Scotland’s Trust Deed

Contact Scotland’s Trust Deed today for more information and advice about a Scottish trust deed, the DAS and other debt solution from our team.