Author: Craig Stocks

Trust Deed Scotland TrustPilot

Posted on by Craig Stocks
GLASGOW, July 2015 – Trust Deed Scotland, the leading Scottish Trust Deed and Debt Arrangement Scheme Scotland (DAS) personal finance restructuring company with offices in Glasgow have achieved a new level of success with 5/5 customer satisfaction and thousands of reviews. The company has received 5-star approval from customers via TrustPilot, an online review platform where customers can leave comments about all kinds of businesses, from e-commerce to florists.

Trust Deed Scotland TrustPilot – No.1 Rated

Debt Relief Service –  No.1 Rated in Scotland. Credit Debt Services –  No.1 Rated in Scotland. Customers of Trust Deed Scotland commended the firm and left debt advice reviews for its “excellent service”, professional advice on debt management and compassionate and understanding advisers. Scottish government figures show that many people in Scotland today are struggling under large piles of household debt, from spiraling credit card debt to mortgage payments and arrears, personal and car loans and more, including hefty council tax bills. The financial, mental pressure and stress in managing large sums of household debt can often be overwhelming. That is why the government has brought in revised legislation to tackle the widespread problem of personal debt, so that it’s clearer and easier to deal with.

Trust Deed Scotland TrustPilot – Scottish Trust Deed Service

Trust Deed Scotland’s Scottish Trust Deed services are available to anyone living in Scotland who has personal debts of more than £5,000. The Debt Arrangement Scheme Scotland is available for those with typical total debts over £3,000 but this is a general guideline and can be set up with as little as one debt included in the plan. Advisers appraise each applicant’s individual situation and work out a plan that’s suited to them. That means once all the debts are bundled together and a workable repayment plan is devised, people only pay back what they are actually able to afford. Typically, it takes around four years for clients of Trust Deed Scotland to clear their debts. What’s even more beneficial for people is that their monthly debt repayments are substantially lower than what they had been paying, leaving them with far more disposable income to pay for other items. Trust Deed Scotland offers tailored, friendly and confidential debt advice. At the outset, people burdened by large amounts of debt can sometimes feel a sense of shame at how it has all gotten out of control. Trust Deed Scotland’s Scottish debt help advisors work to ensure no one is judging them – one reason for the near-total satisfaction of their clients.

Trust Deed Scotland TrustPilot – Reaction

A company spokesperson said they were delighted with their Trust Deed Scotland reviews. “We are happy to be helping people all over Scotland with their debt problems, offering a viable way out of what for many is an absolute nightmare. We’re thrilled that our customers are so happy with what we do for them. We’re similarly pleased with reviews our customers are leaving on our Google reviews page too.” the spokesperson said. For more information about Trust Deed Scotland and its range of Scottish debt solutions, call 0141 221 0999. Find out more about Trust Deed Scotland, or contact Trust Deed Scotland today over WhatsApp.

Childcare Costs Scotland Creating Financial Difficulties

Posted on by Craig Stocks
Many parents find themselves adding to their debts over the summer so they can arrange childcare or summer activities for their children. An increasing number of people find themselves in this position as the costs of childcare and school trips continue to soar to unrealistic figures.

Increasing Childcare Costs Creating Financial Difficulties In Scotland

  • Childcare in Scotland costs an average of £104 per week*
  • The average school trip costs £634.70**
  • 32% of parents said their child’s school trip cost over £750**
  • 18% of parents couldn’t allow their child to go on the school trip due to cost**
  • 11% of parents sacrificed having a family holiday to pay for a school trip**
Parents in the Trust Deed Scotland® office had examples of their own struggles to juggle full-time employment with keeping their kids occupied over the summer. The majority of parents in the Glasgow-based financial institution either worked different shifts from their partners to ensure someone was at home with the children at all times or they had family who helped them out when they were working. One employee of the expert debt advice company said, “the cost of monthly activities are very expensive and having 3 kids means we have to book a holiday a year in advance so that we can pay it up.” Not everyone is in the position where they have family members who can help out and what happens if they are a single parent? Another one of the employees gave an insight into what it was like being a single mother of two. “I had to save up all my holidays throughout the year and use them during the summer holidays so I had to pay for less childcare. It was very difficult and it meant I didn’t really ever have any time off from work where I could relax.” If you’ve found it challenging to cover the monthly necessities and make repayments to your debts, Trust Deed Scotland® has a range of debt solutions that could help you get out of debt and free up your money, so you needn’t worry how you’ll cover childcare costs next summer. Try the Trust Deed Wizard to see how a Scottish Trust Deed could help you reduce the amount of debt you have, enabling you to pay for childcare costs and avoid getting into more financial difficulties. See our Scottish Debt Advice Reviews page for thousands of independently verified reviews from our happy customers. *Rutter, J., ‘Childcare costs survey 2015’, Family and Childcare Trust, 2015, https://www.familyandchildcaretrust.org/childcare-cost-survey-2015, (accessed 30 Dec 2020). *Campbell, M. et al, ‘The Cost of School Holidays’, What Works Scotland, 2015, http://whatworksscotland.ac.uk/wp-content/uploads/2015/07/The-cost-of-school-holidays.pdf, (accessed 30 Dec 2020).

10 Trust Deeds Misconceptions

Posted on by Craig Stocks
At Trust Deed Scotland® we speak to people every day who have been misinformed in the past about Trust Deeds and how they affect the people who enter them in order to step towards a brighter future. Below are 10 of the most common Trust Deeds misconceptions about Trust Deeds straightened out.  
  1. You will lose your home if you enter a Trust Deed.
This used to be a problem but legislation introduced the form 1B which is addressed at the initial stages of the process, before the Trust Deed is finalised. It ensures a valuation of your property is done and that your property is eligible for protection, before you enter into the Trust Deed.  
  1. Your details will be put in the newspaper if you enter a Trust Deed.
In the past, advertisements were place in the Edinburgh Gazette but this is no longer the case. All those who enter into a Trust Deed are placed on the Accountancy in Bankruptcy (AiB) Register and stay there until 1 year after your trustee discharges from the Trust Deed. Most people have never accessed this unless they work in insolvency and debt solution, so it is not as though your family or friends will come across it by accident.  
  1. Trust Deeds and Bankruptcy/Sequestration are the same thing.
Trust Deeds and Sequestration (Scottish Bankruptcy), have many important differences. Bankruptcy remains on your credit file and you will often be asked on application forms if you have ever been declared bankrupt which could affect your ability to obtain credit indefinitely. Trust Deeds do not show on your credit file 6 years after entering into one. If you are a homeowner and you become bankrupt, you would lose your property, which is not the case with a Trust Deed. Once your Trust Deed term has been completed, you would not make any further payments to your debts but with bankruptcy, depending on your income, you may have to pay into your debts after your bankruptcy has been finalised. If you enter into a Trust Deed, there are government guidelines to ensure you have enough income each month, after your Trust Deed contribution to cover your necessities. This includes things such as: food; housekeeping; rent/mortgage; council tax; gas; electricity; home insurance; life insurance; telephone; internet; television and other expenditure. The guidelines with bankruptcy are much more stringent and you would lead a heavily restricted lifestyle. You also need to pay £200 to apply for bankruptcy, whereas all Trust Deed fees are included in the agreed monthly contribution.  
  1. Your family, friends or employer will find out you are in a Trust Deed.
In the majority of cases, you don’t need to tell anyone at all you’re entering a Trust Deed if you don’t want to. The exception is, people in certain lines of work, (usually positions of high authority or financial responsibility), check your contract and terms of employment or HR department if you are unsure if this applies to you.  
  1. Your income is too high or low to enter a Trust Deed.
Each Trust Deed is considered on a case by case basis. Your income and expenditure, debt level and who your creditors are can all play a part in the process. If your disposable income is high, you may pay a larger contribution than some other people but in the majority of cases, this contribution is still vastly less than what you would be paying prior to entering a Trust Deed, all interest and charges would be frozen and you would write off a percentage of your debt. If you are a low earner you can still qualify if someone you know can act as third party to ensure the contribution will be met each month. Once you discuss your personal circumstances with a debt advisor, they can give you an indication of what to expect. The majority of cases we deal with do not have any problems relating to this.   Try our Trust Deed Wizard tool to see how we could help you turn your finances around.
 
  1. You won’t be able to get credit in the future if you’ve been in a Trust Deed.
You won’t be able to get credit while you are in the Trust Deed but once you complete your agreed Trust Deed term, you can begin applying for credit again and rebuild your credit history. The Trust Deed will show on your credit file for 6 years in total, (from the date it was entered). As most Trust Deed terms are 48 months, this means it would show on your credit file for 2 years after you are discharged from your Trust Deed. During this two year period you may find it more difficult to obtain credit but you can begin rebuilding your credit score. See our blog, How Trust Deeds affect your Credit Rating, for advice on how to rebuild your credit score.  
  1. You would have to give up your mobile phone, Sky/Virgin/Netflix television and other direct debits in other to enter into a Trust Deed.
As stated earlier, when people enter into their Trust Deeds, there are government guidelines in place to ensure you can cover your monthly necessities and your Trust Deed contribution. As long as your outgoings stay within these guidelines, you will not have to cancel any of your direct debits. Only excessive expenditure is not permitted as it would suggest you could contribute more to your debts.  
  1. Entering a Trust Deed is something to be embarrassed or ashamed about.
This is simply not the case. Although you may feel like you are the only person you know struggling with debt, we help thousands of people each year. The chances are you know or have come into contact with many people who are in a Trust Deed but you simply didn’t know it. We’ve already given advice to over [volume] people in Scotland, for over a decade. People get into problems with debt for many different reasons and the fact you are accepting that you need some help and want to get your finances turned around shows you are responsible and committed to changing your life for the better.  
  1. You can shop around to find the lowest Trust Deed contribution.
Your Trust Deed contribution is calculated based on what your debt level is, what your creditors will accept and the amount of disposable income you have. This figure will not change based on what company you deal with as they are all working within the same government guidelines. The importance of what company you choose lies in the training and quality of the debt advisors and how much support you will be given throughout the process. Our advisors are here to help every step of the way from the second you pick up the phone to when you complete your Trust Deed. See our reviews page for thousands of independently written Trust Deed reviews.  
  1. Entering into a Trust Deed would affect the credit of others living in your home.
Trust Deeds are an individual process and only affect you. The only way it may affect your partner is if you have joint debts. Otherwise, it will have no effect whatsoever on the credit history of anyone else living in the property and they needn’t even know you are in a Trust Deed as all correspondence will be confidential. We hope that reading our 10 Trust Deeds Misconceptions guide has helped to appease any anxieties that you may have about whether you would be eligible for a Trust Deed. For more information, find our downloadable Scottish Debt Help Guide or Contact Trust Deed Scotland today.

Recommended further reading

Is a DAS worth it? Is a Trust Deed a good idea? Differences between IVAs and Trust Deeds What debt does a Protected Trust Deed include?

10 Money Saving Tips

Posted on by Craig Stocks

10 Money Saving Tips for Scottish Residents

At Trust Deed Scotland we are always thinking of ways to help you save money. Try applying each of these money saving tips to your life and see how much you can save.  
  1. Switch Bank Account
A lot of people stay with the same bank their whole lives but why is that? A bank account is the same as a TV package or mobile phone contract. If you aren’t being offered good perks and service, then you can shop around and change to a better deal. Look for an account offering a period of higher interest or a cash incentive if you switch to them.   Try the Trust Deed Debt Calculator to find out how Trust Deeds could help you.  
  1. Change Energy Provider
The tariffs energy providers have can vary by a large margin and it’s important to compare the prices for gas and electricity at each company. You may find one company offering a deal if you take both types of fuel with them or you may find using one company for gas and another for electricity works out better for you. Remember, the cheapest tariffs are available to customers who pay via direct debit. Some tariffs may offer added extras such as boiler cover but remember, the boiler cover is not actually free, it’s included in the price and you may actually pay less if you take a cheaper tariff and get boiler cover separately.  
  1. Take Note of Energy Saving tips
Although you don’t realise, leaving electronic items on standby is not only bad for the environment, it’s costing you money each year. By turning down your thermostat by one degree, switching off lights and sockets when they’re not in use and getting cavity wall and loft insulation to cut down on heating bills, you could save a reasonable sum. Research the company you are with as certain energy providers can offer energy smart thermostats which allow you to control them even when you’re not at home. This means if you forget to turn the heating off, you can do so without having to return to your house.  
  1. Take Lunch to Work
Most people don’t realise how much money they spend on work/school lunches each week. By preparing lunch the night before or weekly and freezing them until they are needed, you can cut down on expensive convenience foods and use your lunch hour to relax instead of waiting in a busy queue to buy something.   See our Debt Advice Reviews page for thousands of reviews by people we’ve helped out of debt.
  1. Write a Shopping List
Before going to the supermarket, check your fridge, freezer and cupboards, then write a list of what you need. If you stick to your list, you’re less likely to buy things you don’t need on impulse. Also, don’t go shopping when you’re hungry as you’re likely to buy more than you would usually!
  1. Avoid Fast Food and Microwave Meals
Fast food and pre-prepared meals are overpriced and usually not very good for you. Save money and eat healthier by preparing your own meals at home. For a quick and easy main meal, why not try a stir fry with rice noodles and for a lighter option, blend some vegetables together with some stock to make a quick and simple soup.  
  1. Sell unwanted items
Do you have unused items sitting around the house gathering dust? Why not try selling them on Ebay, Gumtree or at a local car boot sale. Then, you’ll make something back for the items and every penny adds up.   See our blog for 10 reasons people enter into a Trust Deed.
  1. Cancel any unused memberships you have.
This may seem like an obvious thing to do but you’d be surprised how many people forget about magazine subscriptions, online subscriptions or clubs they are members of. Maybe you keep meaning to go to the gym but you don’t have time just now. Don’t pay for services you don’t use, you can always set up a direct debit at a later time that suits you better so you’ll actually use it.   For more advice, see the Debt Advice Scotland FAQs page.  
  1. Shop for Christmas presents in December/January sales.
Everyone knows there are large sales in January but not everyone is aware that many shops actually start their sales on Boxing Day. Use this opportunity to snap up bargains for the following Christmas. With discounts of up to 70% off, you could save yourself a small fortune and save yourself the stress of rushing to get ready for Christmas closer to the time.  
  1. Set up Direct Debits for Regular Payments
A lot of the time you pay an extra charge each month if you don’t pay by direct debit, so make sure your mobile phone bill, gas, electricity and other regular payments are set up as direct debits. This also means you won’t accidentally miss a payment and get a late payment charge.   For tailored, professional advice contact Trust Deed Scotland today to see how we could help you get your finances back on track.

10 Common Trust Deeds Questions

Posted on by Craig Stocks
We often receive calls at Trust Deed Scotland from people asking questions about Trust Deeds. We’ve compiled a list of some of the most commonly asked questions so that you can learn more about the process.

1. How do I set up a Trust Deed?

First common trust deeds questions answered – Enter your details onto the website to arrange a call back, or call the office to arrange an appointment with an experienced debt adviser. The advisor will explain all the options available to you and you can then make an informed decision on whether to proceed with a Trust Deed or another solution. If you decide you would like to proceed with a Trust Deed, we will draft your case as soon as we have received the necessary documentation. Your advisor will give you a checklist of the necessary information. Once your case is drafted, you will receive a call from the insolvency practitioner to confirm the details in your paperwork are correct. After this, your advisor will arrange a final meeting with you to finalise the paperwork and answer any questions you may have. Finally, they will help you set up your first contribution payment and once this is done you can stop paying your creditors directly. Always check with your insolvency practitioner to make sure everything is finalised and you are at the stage where you can cancel payments to your creditors.

2. What if I own my own home?

Second common trust deeds questions answered – You can enter a Trust Deed if you own your own home or if you are a tenant, or living with parents or family. At the beginning of the process, you will be given the opportunity to complete a 1b form which ensures your property is protected, provided you meet the terms of your Trust Deed.

3. Will it cover all my debts?

Third common trust deeds questions answered – It would cover all unsecured finances, excluding student loans or any charges incurred due to fraudulent benefit claims or court fines accrued relating to this. There may be some typical exclusions or grey areas such as a guarantor loan. However, these would be investigated and our debt experts would ensure that any doubt would be immediately resolved, or explained. Remember too that other solutions exist such as Debt Arrangement Scheme.

4. Will I need to have a credit check done?

Fourth common trust deeds questions answered – No, you will not need to have a credit check carried out but a credit check could help verify you creditors and the amounts you owe. This is a good idea if you have additional debts you may have forgotten about or are unsure about who you owe money to.

5. Is a Trust Deed the same as bankruptcy?

Fifth common trust deeds questions answered – No, Trust Deeds and bankruptcy, (called sequestration in Scotland), are not the same. One of the major differences between the two is, if you are a homeowner, you can keep your own home in a Trust Deed but this isn’t always possible with bankruptcy. Click on the following links to find out more about Sequestration and Minimal Asset Process, (MAP). Try the Trust Deed Wizard to see how a Trust Deed could help you. Or, find out how it works.

6. Do I have to tell my family or friends?

Sixth common trust deeds questions answered – As long as you have individual debts, (they aren’t joint with anyone), you do not need to tell anyone at all if you don’t want to. We will never disclose your status to anyone and all correspondence will be discrete.  

7. What if I am self-employed?

Seventh common trust deeds questions answered –  You can apply for a Trust Deed if you are self-employed as long as you can provide evidence of income, accounts and invoices.  

8. What if I stop paying my agreed monthly contribution?

Eighth common trust deeds questions answered – If there is a valid reason you cannot pay your Trust Deed contribution, contact your insolvency practitioner immediately. It is possible to arrange a payment holiday for extenuating circumstances. If you stop paying your agreed contribution without good reason or without contacting your insolvency practitioner, they may discharge themselves from your Trust Deed, meaning your creditors will resume chasing you for the full outstanding balances, they may request a wage arrestment against you or you could be made bankrupt.  

9. Will my credit rating be affected?

Ninth common trust deeds questions answered – Yes, your credit will be affected but if a Trust Deed is the best option for you, it is best to take charge of your finances as soon as you can. If you have not defaulted on any payments but have a high level of unsecured debt, you will find yourself in the position where lenders will not consider giving you any more credit, even if you have a high credit score. This is because the acceptance process is means-tested and even if you have never missed a payment, there will come a time when what you owe exceeds the realistic probability that you can pay it back based on your income and expenditure.  If you have already defaulted on payments to your creditors, your credit will already be negatively affected and each default will show on your credit file for 6 years. Once you have been discharged from your Trust Deed, you can rebuild your credit.  

10. What would a Trust Deed mean for my future?

Tenth common trust deeds questions answered – all debts included in your plan will be written off and you are now able to rebuild your credit score. This would allow you to apply for mortgages, higher purchase loans to buy a car and credit cards. These are things you would never be able to do with poor credit. You will also be free from the stress of having a lot of debt and having multiple creditors chase you. If you have more questions you’d like us to answer, view our Scottish Debt Help page or Contact Trust Deed Scotland today.

Call us on 01412210999 for any other Trust Deeds Questions!

Call 01412210999 for any other Trust Deeds questions you have. The team at Trust Deed Scotland are here to help and honestly, there are no Trust Deed questions that we’ve not answered before.

Unemployment Rates Scotland

Posted on by Craig Stocks

In July 2015, the BBC reported that unemployment in Scotland had fallen by 150,000 between March and May this year.

This was a 39,000 drop in employment compared to the same quarter in 2014. These statistics presented an encouraging overview of economic recovery and even put Scotland at a lower rate of employment than the rest of the UK, with 74.3% of Scots employed, compared to 73.3% in the rest of the UK.

Figures released on the 13th of August 2015 by Gov.uk, reported that the unemployment was 5.6%, the same as the rest of the UK.

The recent statistics released show a worrying picture, suggesting Scotland’s economic recovery has halted and started to take a downward turn. On the 14th of October, the BBC reported that unemployment has risen by 18,000 in Scotland, which puts the unemployment rate higher than the rest of the UK, (6.1% compared to 5.4%).

It has been suggested that cutbacks in the oil and gas industries are the reason for the decline. This theory is supported by the trends developing in debt advice and insolvency sectors.

Clare Greechan, senior manager at Trust Deed Scotland stated:

“We have noticed an increase in enquiries from the North of Scotland. This is mainly due to the downturn in the oil and gas sectors. Reduced earnings are impacting on people’s ability to maintain payments to their creditors and they are forced to look at other options.”

There has been a 55% decline in crude oil prices since June 15 which has affected an industry that was already operating under harsh constraints with UK oil production at the lowest it has ever been due to oil fields running out of resources. Andy Samuel, chief executive of the Oil and Gas Authority commented,

“Regrettably, this has led to the loss of around 5,500 jobs since late 2014.”

It is not just workers in the oil and gas industry who have been affected by these cutbacks. The knock-on effect on other areas of industry in the north has left them also feeling the negative impacts. The hotel sector in Aberdeen has reported lower occupancy levels and a very significant decrease in revenue per available room.

Partner in the Property, Leisure and Hospitality sector at BDO, Alistair Rae, reportedly commented:

“There are clear signs that the oil and gas sector is dramatically reducing its costs in the city with hospitality among the first expenses to be cut.”

He went on to add, “I believe that this situation will not improve in the immediate future so would caution the hotel sector in Aberdeen to ensure it is managing its costs to cope with the reduced demand in income.”

If you are affected by the issues discussed in this article, you could contact an experienced debt company such as Trust Deed Scotland or a Scottish debt charity for help.

There are several options available if you are struggling financially.

 

A Trust Deed may be the right solution for you if you are looking for one affordable monthly payment, with a term of typically 48 months which allows you to write off a percentage of your debt.

Try the Trust Deed Wizard tool to see how a Trust Deed could help you. See our article What is a DAS? for more information on the Debt Arrangement Scheme.

 

 

Visit our info hub article for Money Saving Tips for all the Family or Contact Trust Deed Scotland for more information.

Job Losses in Steel Industry Hit Scotland Hard

Posted on by Craig Stocks

The steel industry has been under increasing duress due to imported steel and foreign industries producing more steel than the whole of Europe combined. It was announced last week that as a result of this strain, 270 Scottish jobs will be cut at, Tata Steel, in wave of job cuts affecting the whole of the UK.

Tor Farquhar, HR Director of Tata Europe commented on the cuts from Dalzell Steelworks in Motherwell.

‘The biggest challenge is really the Chinese steel industry and the amount of imports coming into Europe, which is the same tonnage as the whole steel capacity of Europe.’

This is not the first time the steel industry has been struck by devastating job losses. In 1992, Ravenscraig steelworks was closed. This led to the dramatic decline of steel production in Scotland and the loss of 770 jobs, (however, this number is direct losses only and the knock-on effect the area suggests the actual figure to be higher).

John Pentland, Labour MSP for Motherwell and Wishaw commented on the situation and highlighted the Ravenscraig closure and its long term effects on the area.

‘We are still recovering from the damage done by closing Ravenscraig. It shattered this area, and in Motherwell and Wishaw we are still picking up the pieces, trying to rebuild and regenerate the local economy, jobs and communities.’

The announced job cuts could spell the end of Scottish steel production entirely. First Minister, Nicola Sturgeon, has established a Scottish Government Steel Taskforce, chaired by Business Minister, Fergus Ewing in an attempt to prevent further job losses and keep Dalzell and Clydebridge steelworks open.

Sturgeon is troubled by the events and recognises the importance of preserving the steel industry.

‘This is a very anxious time for Tata Steel employees and their families and is deeply concerning for everyone involved…My government is determined to fight for a future for our steel industry.’

This news comes as a blow to the Scottish economy which is already struggling and more job losses in Scotland will further affect the rate of unemployment which is higher in Scotland than the rest of the UK.

If you find yourself facing financial difficulty, a Scottish Trust Deed could be the right solution to help you get back on track.

Visit our info hub for 10 Frequently Asked Questions About Trust Deeds or Contact Trust Deed Scotland for more information.

Scottish House Prices Increase as Demand Exceeds Supply

Posted on by Craig Stocks
The Scottish property website s1homes.com has reported house prices in Scotland rose substantially between January and June 2015. The Glasgow-based property portal website is the sister website of s1jobs.com, the leading Scottish jobs website offering thousands of positions including retail jobs in Glasgow. As a direct impact of a lack of properties entering the housing market, house prices in Scotland rose by 3.5% between April and June and are expected to rise by over 5% by the end of the year Trust Deed Scotland® can reveal. The biggest increase in house prices concerned semi-detached properties, with their value showing a 5.5% increase. Excluding flats, all other types of residential property in Scotland displayed a decrease in the volume of house sales. Detached properties are the only type of property not to increase in average house price, had a drop in sales of 4.2% compared to 2014. Out of all cities in Scotland, Glasgow had the largest rise in the percentage of sales, with an increase of 17.6%. Aberdeen however, had the largest decrease in sales, with an 18% decline since 2014. The decline in sales in Aberdeen has coincided with the loss of jobs in the oil and gas sector affecting the area. Sarah Speirs, director of RICS in Scotland, who work closely with the Scottish Government on matters relating to property and construction predicted a rise in rent and commented, ‘The Scottish government increases investment in initiatives such as Help to Buy, which further stimulates demand while failing to address the critical issue of housing supply, more needs to be done to increase and expand housing supply.’ In an attempt to address housing issues and focus on the affordability of Scottish house prices, the Scottish government has announced it will spend £195 million of the next three years on a shared equity scheme designed to help people buy new-build houses. The cutbacks in companies are affecting how much people can spend on buying a home and their decisions to sell their properties. People are reluctant to move home in case there is a change to their financial circumstances. This fear is fuelled by mass redundancies across many sectors. Most recently, Scotland was rocked by the confirmation that two steelworks are to be closed due to the pressure put on them by competition outside of Europe. This move may ultimately spell the end of Scottish steel production for the long term.

How to get debt help in Scotland

If you find yourself in financial difficulty, entering into a Trust Deed or the Debt Arrangement Scheme (DAS) could be two possible formal Scottish debt solutions that may help you to make more manageable payments to the people to who you owe money and even allow you to write off a percentage of your unaffordable debt. More homeowners across Scotland than ever before are finding that DAS is a suitable solution for them, where they have too much equity in their property to qualify for a Trust Deed, however being a homeowner and having equity in your property may not necessarily exclude you from being able to apply for a Trust Deed. The most important consideration for you is to ensure that you seek help from an experienced advisor as soon as you can, in order to ensure that you receive the most relevant advice for you, based on your own situation, lifestyle and needs. Call us on 0141 221 0999 to get more information from our experienced debt advice team on how a Trust Deed could help you. Your call will be handled in confidence, without obligation and completely non-judgemental. See our other recent blog for 10 Money Saving Tips for all the Family or for more information, Contact Trust Deed Scotland today.

Trust Deed Scotland Client Survey

Posted on by Craig Stocks
TDS Oct 2015 Survey   The Trust Deed Scotland October 2015 Survey results showed the top reasons people in October 2015 entered a Trust Deed and helped shed some light on the experiences people have when learning about Trust Deeds. 73% of participants said they were prompted to enter a Trust Deed. 9% entered one as they were threatened with sequestration due to council tax arrears and a further 9% said they chose a Trust Deed as they wanted to improve their credit quickly.

Survey highlights interesting Trust Deed Scotland statistics

Trust Deed Scotland do not cold call customers and were amazed to find out 100% of people surveyed have been cold called by companies offering Trust Deeds. The survey also revealed that although 73% of clients surveyed has spoken to other companies, whether of their own volition or due to cold calls, they decided to approach Trust Deed Scotland to provide their debt solution. The main reasons for this were word of mouth and the Trust Deed reviews written by our happy clients. It was reported in September 2015 that Trust Deed Scotland clones impersonated our identity in order to gain business. The survey results have supported these findings, with over a quarter of participants reporting they were contacted by copycat companies stating they were Trust Deed Scotland and trying to set up appointments. The survey revealed 100% of people rated the information available on the Trust Deed Scotland website as 5/5. 100% also reported Trust Deed Scotland effectively answered any queries they had before they made the decision to proceed with their Trust Deeds. Finally, the service provided by Trust Deed Scotland was rated as 5/5 by 100% of people surveyed. If you have been experiencing financial difficulty, a Trust Deed could be the right solution for you. It allows you to make one affordable monthly payment and leave you enough income to cover your other monthly necessities. You will also be granted debt forgiveness, which means if your agreed Trust Deed terms are met, you will not have to pay back your debt in full and can begin to rebuild your credit score. For Scottish Debt Advice call us on 0141 221 0999 to see how a Protected Trust Deed or alternative could help you.   For more information about Trust Deeds, Contact Trust Deed Scotland.

Money Saving Tips For Christmas

Posted on by Craig Stocks
 

Tips for saving money at Christmas

  It’s that time of year again! We’d all like to cut down on the costs of the festive season. Here are some simple money saving tips for Christmas from Trust Deed Scotland that you can apply this Christmas and the Christmases to come to make things more affordable. 1.   Only spend what you can afford. This may seem obvious but the highest amount of debt per person tends to be accrued during the festive period. Avoid building credit card debt and instead budget for what you can afford. If you get your presents in gradually, over time, you won’t leave yourself short for the month and reliant on credit cards. You may think you’re saving yourself stress by putting it on plastic but remember any good deals you’ve got on your gifts will actually cost you much more in the long run, once you’ve paid them all off, with interest. 2.     Use points and vouchers you’ve saved in shops to buy presents/Christmas dinner. Do you have numerous points cards cluttering up your purse or wallet that you always forget to use? Now is the time to cash in those points for presents or Christmas dinner. You may be surprised how many you’ve saved up. 3.   Look out unused wrapping paper, cards and tags. Like most people, the chances are you have unused wrapping paper, tags, bows, ribbons, gift bags and cards lurking around forgotten in your home. Get them down from the loft or out of the cupboard and use them before you buy more this year. Going forward, keep a box of unused Christmas accessories that you can pull out from year to year. Although you may worry about using the same paper as last year, the chances are no one but you will know and not only will you be saving your pennies, you’ll be doing your bit for the environment too. Try our Trust Deed Wizard tool to see how Trust Deeds may help you. 4.   Save money by packaging your own gifts. Instead of buying expensively boxed gifts, get a selection of presents and buy gift boxes or tins to put them in. Boxes range in size from ring/pill sized to hamper-sized and above and if you shop around you can find something suitable for a very reasonable price. Smarten it up by adding some tissue paper or confetti and a ribbon and bow and it will look as though it was shop bought. 5.   Take advantage of offers for free delivery or click and collect. Although one company may be selling an item for less than another, you may find that once you add on postage costs, you will actually pay more. Always check postage prices and take advantage of discounts, free delivery or opt to have items delivered into stores using click and collect as most companies who offer this service do so free of charge. 6.   Shop around and use price comparisons, the chances are you’ll find the same product in several different places for different prices. Although you may use the same high street store each year for gifts, shop around before making your purchases. Do price comparisons online as you may be able to find the same product on special offer or retailing at a lower price elsewhere. See our Testimonials for reviews from hundreds of customers we’ve helped out of debt. 7.    If you won’t be seeing the recipient of a present until after Christmas, shop for their gift in the Boxing Day or January sales. Many shops have massive sales in store and online with savings exceeding 75% and more on some items. You may also want to buy your next years presents in the sales to save money and reduce stress when it gets round to next Christmas. 8.    Get inventive! Make your own gifts and cards. If you like arts and crafts or bakery, now is the time to put your hobby to good use. Many presents can be homemade from soft toys, cushions and quilts to jumpers, ornaments, calendars, cakes and more! Get the kids involved too; they may love making the Christmas cards and tags and your family and friends will love the personal touch. See our blog for Ten Frequently Asked Questions About Trust Deeds. 9.    Give unwanted gifts you’ve received at birthdays and Christmases. Rule number one: Be careful not to give it to the same person who gave it to you! This is a great way to save money and get unwanted gifts to owners who will appreciate and use them. Perhaps you received some perfume that makes you sneeze or a shirt that doesn’t fit you? Another option is to sell unwanted gifts online and use the proceeds to go towards your Christmas purchases. For more advice, see our Debt Advice Scotland FAQs. 10.    Use draught excluders to cut down on energy bills. This winter is rumoured to be the coldest we’ve had in the UK for a while. Keep the heat in and avoid sky high energy bills by using draft excluders and making sure your doors and windows are properly sealed against wind and rain. We hope these money saving tips for Christmas will help you cut your costs. If you do have any debts and would like help getting your finances back on track, contact Trust Deed Scotland for tailored debt advice.