Scotland only
Scottish Debt Solutions
Scotland has a separate legal system, so IVAs and DROs are not available. Instead, people living in Scotland may consider options such as the Debt Arrangement Scheme, Protected Trust Deeds, or bankruptcy (sequestration), including the Minimal Asset Process.
The main options
- Debt Arrangement Scheme (DAS): a government-run scheme allowing you to repay debts in full over time through a Debt Payment Programme. Interest and charges on included debts are frozen once approved, and creditors cannot take action while you keep to the programme. You must apply through an approved money adviser.
- Protected Trust Deed: a formal, legally binding agreement in which you pay what you can afford over a set period (usually four years), administered by an Insolvency Practitioner acting as trustee. Remaining included debts are normally written off at the end, but you may have to release equity in your home.
- Sequestration (bankruptcy) and the Minimal Asset Process (MAP): formal options for people who cannot repay their debts, applied for through the Accountant in Bankruptcy.
Things to consider
- Free advice is available from Citizens Advice Scotland, Money Advice Scotland and local council advice services.
- Each option has different eligibility rules, fees and consequences.
Risks and consequences
- Trust Deeds and sequestration are recorded on the public Register of Insolvencies and on your credit file.
- Trust Deeds involve fees and may affect your home and some jobs.
- If you do not keep to a DAS programme it can be revoked, and creditors can resume action.
This page is general information, not advice. Money Surgeon does not recommend specific solutions. Whether any option is suitable depends on your full circumstances — speak to a qualified adviser before making decisions.