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A survey from a debt advice charity has revealed that on average, Scots are having to cope with debts worth £14,167.

However, while the figures are an average, there are pockets across Scotland where families are struggling with much more debt than that.

For instance, for families with children in East Kilbride then their debt is, on average, worth £19,548.

For those families with children in central Scotland, the average debt is £13,753.

Debt advice workers in these areas say a large portion of those who are seeking help are trying to cope with credit card debt.

Families who are not coping financially

One reason for this, the organisations say, is that families who are not coping financially are now turning to using credit cards increasingly to meet their day-to-day bills and expenses. The next big issue is for Scots is repaying personal loans.

The figures for families without children also make for interesting reading and for those in debt asking for their advice in East Kilbride, then their average worth of debt is £11,797.

Another issue is that wages are not keeping pace with increasing living costs, this is being made worse with the rate of inflation outstripping wage inflation.

The debt advice charity says there’s also an issue with Scots who cannot pay their utility bills such as gas and electricity as well as their council tax and rent.

They say that over the last five years, the proportion of people in Scotland seeking help with repaying council tax arrears has risen to 47% from 27%.

People in Scotland have run out of cash

The same charity revealed recently that 51% of people in Scotland see their wages being spent before their next payday.

Worryingly, 15% of those who answered the survey said this happened ‘always’ or ‘almost all of the time’.

When they are struggling, around 23% of Scots say they’ve gone without food at least once in the last 12 months and that debt is now a fact of life for many.

Their figures also show that 48% of Scots had to borrow money or use a credit card to buy food and one in five struggles to pay their mortgage or rent.

For Scots who cannot cope financially, it is always good advice to seek help as soon as possible.

Helpful advisers at Scotland’s Trust Deed

One of the best ways is to speak with the helpful advisers at Scotland’s Trust Deed who will be able to help with advice about what potential solutions are available.

Among them is a trust deed while others may be attracted to a debt arrangement scheme.

The advantages for a trust deed is that it could see a significant portion of the unsecured debt being written off after the repayment period comes to an end.

In addition, the charges and interest on the debt will be frozen and there will be just one monthly repayment to make.

For many people, they could be completely debt free within 48 months and not be hassled or face legal action from any of their lenders.

Downsides to a trust deed

There are some downsides to a trust deed and the advisers at Scotland’s Trust Deed will explain more but they do include the debtor not including secured debts such as hire purchase repayments and mortgages in the amount being owed.

Under the terms of the trust deed, the debtor will need to declare all of their liabilities and assets and they may need to release equity in their home to help repay their lenders.

Also, the trust deed will be recorded on their credit history for six years and there are some occupations that will require prior approval before the trust deed is granted.

So, for many people living in Scotland there are several ways to resolve their debts that are only available to those who live in the country and a trust deed is one of them.

Advice about a debt arrangement scheme or a trust deed

For more help and advice about a debt arrangement scheme or a trust deed then it’s time to speak with the team of debt advisers at Scotland’s Trust Deed.