Author: Craig Stocks

5,000 Trustpilot Reviews Milestone

Posted on by Craig Stocks
As a leading Scottish debt solutions provider, we’ve always been proud of our customer feedback, therefore this has been an important week for us as we’ve reached an important milestone of 5,000 Trustpilot reviews. Trust Deed Scotland® was founded in 2009 with the goal of becoming the best rated debt solutions company in Scotland, with a philosophy of putting our customers’ best interests at heart and helping them to truly realise their potential to achieve a brighter future. We’ve helped over [volume] people in Scotland by giving them tailored Scottish debt advice. Not only do we have an excellent Trustpilot rating, but our numbers stack up too. 98.5% of our proposed Trust Deeds gain protection status making us No.1 in Scotland last year¹ 99.9% of our proposed Debt Payment Programmes (DPPs) under the Debt Arrangement Scheme are approved by creditors² Of our most recent debt advice reviews, one we received from a client in April 2022 helped to demonstrate how our message ‘If you do something about your debt today, you can stop worrying about it tomorrow’ really does help to empower people with problem debt to take action. Gillian wrote: “From my first phone call to finalising everything the communication was excellent. I feel like the weight of the world has been lifted off my shoulders and I can now draw a line and move on from a past life of debt. Thank you so much Soreena I’ll be forever grateful.”

What did our 5,000th reviewer say of their Trust Deed Scotland® Experience?

Our 5,000th reviewer, Christian wrote a short review about his Trust Deed Scotland® experience saying: “Very straightforward process, fantastic support from my adviser Matthew, would highly recommend.“  

Trust Deed Scotland® TrustScore of 5/5

Of the 5,000 reviews received, 98% rated us 5/5. Our overall TrustScore is 5/5. TrustScore is an overall measurement of reviewer satisfaction, based on all the Service and Location reviews a business receives on Trustpilot. A star rating is the TrustScore visualised. Learn about how TrustScore is calculated. Not only do we have a TrustScore of 5/5 but we’re the highest rated company in Scotland in the Trustpilot debt relief service category.  

Why does getting good debt advice matter?

At Trust Deed Scotland® we invest much time and effort into our own training and compliance in order to constantly evolve and enhance our customers’ experience. Trustpilot feedback and customer feedback surveys help us to drive improvements too. It’s another reason why our reviews matter to us. Our tailored debt advice is: Non-Judgemental – We’re here to listen and advise. Not to judge you. We can promise you that you’re not alone in developing problem debt. There are many changes in personal circumstances that create the situation. Redundancy, divorce, illness and simply overcommitment. Problem debt can happen to anyone, but if it does happen to you, we can help you move on. Confidential – We’ll always respect your privacy and will not divulge your situation to anyone. Safe & Secure – Our advice team are based exclusively in-house and regardless of whether you choose to proceed with us or not, we’ll never share your details with any other company. We will never attempt to push you into a solution, you’ll always be the one that makes the decision in your own time, on your own terms. Balanced – We’re here to give you the risks and benefits of all formal Scottish debt solutions. This helps you to understand what your options are and how they will impact your day-to-day life. You will be the one that makes the decision. Experienced – Not only are we authorised to give debt advice, but our team are vastly experienced, with knowledge of the inner workings of formal Scottish debt solutions legislation.

Get help with your debt today

You can contact Trust Deed Scotland® today for tailored, confidential debt advice on 01412210999. Alternatively, start the process online and find out what options you might be eligible for by trying our Trust Deed Wizard tool.
In 2021, we achieved a protection rate of 98.5%, this made us the best performing volume provider of Protected Trust Deeds in Scotland. Trust Deeds advertised between 01/01/21 and 31/12/21. ²In this sample of 1,144 Debt Payment Programmes (DPPs) under the Debt Arrangement Scheme (DAS), approved between July 2019 and October 2021, only 1 proposed DPP was rejected and unable to proceed.

Cost of Living Crisis Scotland: 20% of Scots Running Out Of Money Monthly

Posted on by Craig Stocks
20% of people in Scotland are running out of money before payday, a poll from Citizens Advice Scotland (CAS) has found. Broken down further the survey found that 11% run out of money most of the time. 9% of people said that they always run out of money before they are paid wages, pension payments or benefits. As previously reported by Trust Deed Scotland® the cost of living energy bill increases and weekly food shopping price increases have caused many people across the country to use short term credit facilities including their credit cards and bank overdrafts to pay their essential household bills, borrowing their way out of short term crises. With inflation and tax hikes, thousands of people across Scotland are struggling to cover the cost of day to day life. With over [reviews] reviews, Trust Deed Scotland® have helped over [volume] in Scotland and will continue to do so while the cost of living crisis continues to cause havoc to the everyday lives of many Scottish families. Quite simply, people are facing an impossible choice in their spending with some people having to choose between heating and eating. Myles Fitt a representative of CAS, a Scottish debt charity said “One in five people running out of money before payday is extremely concerning, given that these figures have seen an increase since 2021. A real issue here is that incomes simply aren’t keeping up with costs. Social security payments like Universal Credit effectively fell in real terms this year, and that was after the decision last autumn to remove the £20 per week uplift to the benefit.”

Cost of Living Crisis Scotland: Get help with unaffordable debt

When you have unaffordable debt, it’s important to seek help as soon as you can. In a recent survey of Trust Deed Scotland® customers, 57.40% of our customers waited more than one year before asking for help with their debt. 13.82% said that they waited 4 years or more before asking for help. There are many reasons why individuals may put off seeking help with their debts including the fear of being judged, or shame and embarrassment about having a problem with debt. If you do feel like this then it’s important to understand that even before the recent Coronavirus pandemic many people have found themselves with unaffordable debt through no fault of their own and thankfully, there are solutions that can help almost everyone. You do not need to deal with your debts alone. Speak to Trust Deed Scotland® today in confidence and see if we can help put you on the path to a brighter future.
  • Debt solutions that help individuals cope with rising living costs
  • Peace of mind that unaffordable debt is under control
  • Continued support until your journey is complete
Use our Wizard tool to quickly check your options, or call us on 0141 221 0999 for advice.

Scottish Households Will Get a £400 Energy Bill Discount

Posted on by Craig Stocks
All households in Scotland will get an energy bill discount in the shape of a grant that will reduce the impact of increased energy bills in Scotland by £400 from October the chancellor, Rishi Sunak has announced. Further measures announced contain a mix of broad help and specific payments to those on lower incomes, in Scotland and throughout the rest of the UK. Direct debit and credit customers will have the money credited to their account, while customers with pre-payment meters will have the money applied to their meter or paid via a voucher. Whilst this does come as a source of relief for some households in Scotland; there is a long way to go yet as previously reported in the Trust Deed Scotland® cost of living crisis info hub. If you’ve been following this story closely in the news, you may have heard about the original idea to ‘loan’ £200 to households. Thankfully, the scheme has been scrapped and now replaced by the £400 energy bill discount for all.

The elderly and people on benefits in Scotland get additional help

Households that receive the Winter Fuel Payment, which is nearly all homes with at least one person of pension age in Scotland; will receive an extra £300 in November or December. Those on lower incomes, who claim pension credit, will also receive the £650 mentioned earlier. A small group of pensioners with disabilities will receive a total of £1,500 when all the new payments and discounts they are eligible for are added up. A £650 payment will be made to more than 8,000,000 low income households across the UK who receive Universal Credit, tax credits, pension credit and other means-tested benefits. This will be an automatic payment into bank accounts. It comes in two instalments – the first in July and the second sometime this autumn. Payments for those on tax credits only will follow shortly afterwards. Those on disability benefits will receive £150 in September, which may be on top of the £650 payment.

The cost of living crisis in Scotland will not go away

A typical domestic energy bill is estimated to rise to £2,800 in October, Jonathan Brearley CEO of Ofgem recently told MPs. That is an £800 a year increase, on top of a £700 a year rise which took effect in April 2022. Official forecasters are saying that the rate is set to accelerate. Prices will not fall next year and beyond, but the rate of increase is expected to slow. The biggest factor is what will happen to energy bills in the next few years. This will depend to a large extent on the war in Ukraine, and its wider impact on energy supplies from Russia and how that changes the wholesale prices paid by energy suppliers. The Russian and Ukrainian conflict may affect the cost of our weekly food shop as wheat prices soared on world commodity markets, and the cost of everything from bread and cakes to noodles and pasta has gone up.  

Help to repay unaffordable debt in Scotland

It is important to understand that some bills are more important than others. Known as priority bills, a typical energy bill in Scotland from a current supplier is most definitely a priority bill and you should pay these types of bills first whilst other debts such as credit cards and payday loan debts for example are not as urgent. However, even though these types of debts may not be as important, simply ignoring them is not an option either. If you feel like you’re really struggling with unaffordable debts you should seek advice from an experienced debt adviser or debt charity as soon as you can. You’re not alone in asking for help but the sooner you do something about your debt, the sooner you can move on with your life. Unfortunately, as many as 25% of Scots wait 3 years before seeking help with their unaffordable debt so we would urge you to ask for help sooner so that you don’t fall into the same trap. Trust Deed Scotland® have helped thousands of people in Scotland since 2009. We have dealt with cases that included council tax arrears, credit card debts and payday loans. We’ve successfully prevented and lifted creditor enforcement actions such as Wage Arrestments. Whatever the cause of your money problems, Trust Deed Scotland® can help you to understand your options, find a Scottish debt solution and let you focus on enjoying a brighter future. Contact us on 0141 221 0999, or start by simply using our debt calculator tool online to quickly check what your options may look like.    

Cost Of Living Scotland: Petrol Prices

Posted on by Craig Stocks
In the latest of our cost of living crisis in Scotland series of articles, Trust Deed Scotland® focuses on petrol price increases in Scotland. Recently, as reported by the RAC, petrol prices have just topped £100 to fill up the average family car in the UK. With day-to-day costs like energy bills, the weekly food shop and rent are rising steeply. If you’re worried about being able to afford to live, you’re not alone. Many people are struggling to cope with the rising cost of living, so if you feel like you have reached a level where your debts have become unaffordable, it’s important that you seek tailored Scottish debt advice as quickly as you can. Andrea Coscelli, CEO of the Competition and Markets Authority (CMA) recently said record pump prices are ‘causing significant concern’ for millions of people in the UK and that the watchdog will carry out a ‘short and focused review’ of fuel prices. As many as 21% of the Scottish population live in rural areas, depending on petrol for necessitous journies however many of these areas are inhabited by a higher percentage of elderly residents who have been identified as a group who are more at risk with the rising cost of living in Scotland. However high road fuel prices are causing significant concern for the millions of consumers and businesses who rely on being able to afford to fill up their vehicles. PetrolPices.com reports that the average petrol prices in Scotland rose from 127.92 pence per litre (PPL) in Jun 2021 to 184.64 PPL in June 2022. A 44.34% increase in Scottish petrol prices. Similarly, diesel prices in Scotland rose from 130.09 PPL to 190.78. A 46.65% increase in Scottish diesel prices.

Why are petrol prices so expensive in Scotland?

Petrol prices have increased sharply in Scotland because the price for crude oil, which is used to make petrol and diesel, has gone up. Crude oil was cheaper at the beginning of the Covid pandemic because many businesses temporarily closed and demand for energy collapsed. However, this has been impacted further by the war in Ukraine with sanctions being placed on Russia. 11% of UK oil is imported from Russia. As life returned to normal for most people across Scotland, the demand for energy increased. Suppliers have struggled to keep up and prices have risen. Another problem causing an increase in Petrol Prices increasing in Scotland is that the oil used to make petrol is paid for in US dollars. The pound is weak against the dollar at the moment, which makes fuel even more expensive. Petrol stations say that they have been ‘unfairly scapegoated’  after the UK government raised concerns a 5p fuel duty cut was not being passed on quickly enough to drivers. So far neither the Scottish nor UK governments have ruled out specific measures to tackle increasing petrol prices but have put together a £37bn package to help families deal with the wider rises in the cost of living such as the recent announcement that Scottish households will get a £400 energy bill discount.

How to get cheaper petrol in Scotland?

The price comparison website confused.com offer a service that allows you to search for petrol and diesel in your area by entering your postcode. PetrolPrices.com also show the cheapest petrol stations per area, however, you will need to sign up for a free account to be presented with any useful information. MoneySavingExpert.com working alongside RAC offers some practical advice on making your car more fuel-efficient. That advice includes keeping your tyres inflated and decluttering your car to then also making some recommendations about driving your car more efficiently including how you brake, to changing gears and acceleration tips.

Help to repay unaffordable debt in Scotland

The cost of living crisis is affecting people from all walks of life across Scotland, whether they are in financial difficulties or not. However, if you feel like you’re really struggling with your unaffordable debts as a result of not having enough money to pay all your bills there is help available for you. Trust Deed Scotland® have helped thousands of people in Scotland since 2009. We have dealt with cases that included council tax arrears, credit card debts and payday loans. We’ve successfully prevented and lifted creditor enforcement actions such as Wage Arrestments. Whatever the cause of your money problems, Trust Deed Scotland®  can help you to understand your options, find a solution and let you focus on enjoying a brighter future. Contact us on 0141 221 0999, or start by simply using our debt calculator tool online to quickly check what your options may look like. Download our Scottish debt guide for more information on the types of solutions available for you.

Cost Of Living Scotland: Childcare Costs

Posted on by Craig Stocks
As we head into the October half term holidays across much of Scotland next week, new data has emerged showing the true extent of the cost of childcare in Scotland. The Prince’s Responsible Business Network highlights that as much as 51% of a parent’s salary is spent on a full-time nursery placement where they have children under the age of two. This equates to more than half the pay of an average adult in Scotland based on the median weekly take-home pay of a working-age adult in Scotland being £418p/w. Additional research published by workingmums.co.uk, a job board for professional women in the UK shows that:
  • 58% of mums were looking to change jobs, increase their hours or do an additional job
  • 51% of mums said the cost of living was affecting their childcare decisions
  • 49% said lack of childcare was stopping them working more hours
  • 49% had not had a pay rise in line with inflation
  • 10% have £20,000 or more worth of debt
  • Alarmingly, 7% are relying on food banks to feed their family
Whether in a relationship or a single parent, the ability of mums to earn more money for themselves will always be limited by access to childcare and the support network around them. Quite simply, increasing hours isn’t possible without childcare support. Families with children in all age groups are feeling the impact of the cost of living crisis in Scotland. As reported by STV earlier this year, many children from low-income families have returned their lunch money to their parents in order to pay for household bills. A further £1m is owed by pupils in the final years of primary school as parents struggle with the cost of living with local authorities using sheriff officers to reclaim the sums owed from their parents.

One in five adults is behind on at least one household bill

Research by the debt charity Money Advice Trust found that 45% of families with children were reported to be in debt. However, problem debt can happen to anyone with many people with different circumstances affected too. 21% of UK adults are estimated to be behind on at least one household bill, with as many as 14% having sold their personal belongings just to get by. The same survey data highlighted that 29% of UK adults are using their credit cards to pay for essentials whilst 10% are borrowing from friends and family. Whether a person borrows from a credit card lender, or from a friend, a family member or a work colleague the likelihood is that the debt will continue to escalate until it becomes unaffordable.

Help with unaffordable debt in Scotland

The cost of living crisis in Scotland continues to impact the lives of many people as it has done for some while now. In a survey of existing Trust Deed Scotland customers in February 2022, 21.62% reported that the cost of living was the event that triggered them to seek help. Typically divorce and separation, poor money management and ill health may be among the most common reasons that people seek help with their debts. Undoubtedly, if the same survey questions were asked of our latest customers who sought help from us between March 2022 to October 2022 this percentage will be significantly higher. An ONS survey from April to May 2022 found that 77% reported feeling very, or somewhat worried about the rising costs of living, 90% of parents with a dependent child aged 0-4 years said they were somewhat worried about the rising cost of living. 80% of parents with a dependent child aged 5 years and above said they were very/somewhat worried about the rising cost of living. With energy bills set to increase this month, you may be worried about how you’ll be able to pay for your other household bills like childcare, food, rent or mortgage and things like clothing. In the same survey of our customers earlier this year, respondents were asked how long they waited before they asked for help with their debts. Whilst 17.61% got help straight away and a further 24.98% got help within a year, unfortunately, many people with unaffordable debt in Scotland waited longer. 29.33% waited 1-2 years, 14.25% waited 3-4 years and 13.82% waited over 4 years. The biggest reason why people put off seeking help with their debt sooner than they did was that they felt ashamed or embarrassed about their debt. 31.89% responded with this answer. Trust Deed Scotland® provide tailored debt advice on all available debt solutions in Scotland. We know that asking for help is a big deal and we always urge that people read our Trustpilot reviews firstly as the [reviews] reviews from customers written in their own words can help empower you to seek help if you need it and to understand that you are not alone and that others are in the same position as you. We firmly believe that reading our customer reviews is the best way for people to understand who we are, what we do and why we can be trusted more than anyone else. Indeed, we’ve got more 5 star Trustpilot reviews than all other Trust Deed providers combined. Our experienced debt advisers make sure that our clients get personalised debt advice based on their affordability, lifestyle and needs. ☑️ Unaffordable debt written off ☑️ Reduced monthly payments ☑️ Interest and charges frozen ☑️ Home and car protected ☑️ Creditor contact reduced To find out more about the Advantages & Disadvantages of all formal debt solutions in Scotland, get started now by trying our Trust Deed Wizard® tool, or by calling us on 0141 221 0999.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected. Free advice also available from moneyhelper.org.uk.

Customer Care Case Study

Posted on by Craig Stocks
We know that asking for help is a big deal and we always urge that people read our Trustpilot reviews firstly as the [reviews] reviews from customers written in their own words can help empower individuals to seek help if they need it and to understand that they are not alone and that others are in the same position as them. We firmly believe that reading our customer reviews is the best way for people to understand who we are, what we do and why we can be trusted more than anyone else. Indeed, we’ve got more 5 star Trustpilot reviews than all other Trust Deed providers combined. Kirsten recently left a review that encapsulates the experience for our customers: “I feel like having the help, support and attention from Trust Deed Scotland has allowed me to breathe and have a full sleep. I was suffocating in debt and felt the adviser who assisted me, Sharon, was so kind and caring and so considerate towards how embarrassed I felt over the amount of debt I had. Sharon made me feel like no matter what there was going to be a more positive and manageable outcome for myself & my children. Sharon was thorough when going through and explaining options, in every detail, and I didn’t feel like she was just a call handler who was there to answer my call, she cared and asked questions that were hard for me in a sensitive approach. I felt throughout the trust deed process Sharon always made sure I felt comfortable and reassured. Going into making the decision of entering a trust deed I didn’t feel pressured at all by Sharon, I felt supported no matter what choice I made. Now being in a trust deed and accepting the help I was offered to help manage my money and spending gives me such happiness that I am able to give my three children a good quality of life, being able to for one day yes to a treat. I can’t thank Sharon and her team for the opportunity to be able to live my life again.”
Trust Deed Scotland® provide tailored debt advice on all available debt solutions in Scotland. Our experienced debt advisers make sure that our clients get personalised debt advice based on their affordability, lifestyle and needs. ☑️ Unaffordable debt written off ☑️ Reduced monthly payments ☑️ Interest and charges frozen ☑️ Home and car protected ☑️ Creditor contact reduced To find out more about the Advantages & Disadvantages of all formal debt solutions in Scotland, get started now by trying our Trust Deed Wizard® tool, or by calling us on 0141 221 0999.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected. Free advice also available from moneyhelper.org.uk.

Talk Money Week 2022

Posted on by Craig Stocks
7-11 November 2022 marks a week known as Talk Money Week in the UK. It’s an annual event run by Money and Pensions Service and it usually falls on the second week of November of any year. It’s a time for debt charities and companies such as Trust Deed Scotland® to come together and encourage people to open up about their money and debt worries. Talk Money Week’s focus for 2022 is around credit, something that many people are currently resorting to use to pay household bills. A recent Ipsos survey carried on behalf of Sky News found that 25% of its respondents said they have already used credit cards for essentials or skipped meals in response to the cost of living. The same survey highlighted that 90% are worried about cost of living for the country as a whole while around 8 in 10 are concerned for themselves and people in the area they live. An additional 33% are finding it difficult to pay their energy bills and a similar proportion of mortgage holders and renters report rises in their housing payments. The Money and Pensions Service are funded by levies on both the financial services industry and pension schemes and their vision is “Everyone making the most of their money and pensions.” They are an ‘arm’s-length body’ sponsored by the Department for Work and Pensions, with a joint commitment to ensuring that people throughout the UK have guidance and access to the information they need to make effective financial decisions over their lifetime. They deliver those across five core functions. 1. Pension guidance. 2. Debt advice. 3. Money guidance. 4. Consumer protection. and 5. Strategy.  

Why does talking about money and debt matter?

One of the key focuses of Talk Money Week 2022 is to encourage conversations about unaffordable debt. By having a conversation, you can improve your physical, mental and financial wellbeing. Money and Pensions research shows that talking about money can help you to:
  • Make better and less risky financial decisions
  • Have stronger personal relationships
  • Help your children form good lifetime money habits
  • Feel less stressed or anxious and more in control.
Building money conversations into our everyday lives also helps us build financial confidence and resilience to face whatever the future throws at us and Talk Money Week’s intention is for you to kickstart a conversation in any walk of life, including:
  • In your workplace
  • At home with friends and family
  • In educational establishments, or with debt charities
  • With the people to who you owe money to
However, it isn’t easy talking about money and debt. Many people fear being judged, embarrassed or ashamed of their debt when the truth is problem debt can happen to anyone.

How long do people wait before getting help with their debt?

In a 2022 study of existing Trust Deed Scotland® & Harper McDermott customers.
  • 17% got help with their unaffordable debt straight away
  • 25% waited up to 1 year before asking for help
  • 30% waited between 1-2 years before asking for help
  • 14% waited between 3-4 years before asking for help
  • 14% waited over 4 years before asking for help with debt
57.4% waited over a year before finally asking for help with their unaffordable debt.

What type of debts worried our customers most?

Credit card debts are the most troublesome type of debt that our customers encounter.
  • 33.84% were worried about credit card debts in Scotland
  • 24.33% were concerned about a personal loan
  • 11.60% thought that their overdraft was a worrying debt
  • 7.20% were worried about council tax arrears debt
  • 6.68% are worried about payday loan debt
  • 4.04% are worried about a buy now pay later agreement
  • 3.31% were worried about their gas & electric bills*
  • 2.98% were worried about rent arrears debt
  • 2.95% were worried about HMRC debts
  • Lastly, 3.07% were worried about another type of unaffordable debt
*It’s important to stress that these answers were taken before the cost of living crisis really started to bite. If this same survey were to take place today, the results would be vastly different. For example, a survey from Smart Energy GB in October 2022 found that almost half of its respondents said they were worried about rising energy costs.

What impact did debt have on our customers’ mental health?

We asked our customers if their mental or physical health was impacted by their debt problem and overall 91.36% of our respondents’ mental health was impacted by their debt problem.
  • 57.61% – Yes – My mental health was affected
  • 1.33% – Yes – My physical health was affected
  • 33.75% – Yes – Both my mental and physical health were affected
  • 7.30% – No – My mental or physical health was not impacted by my debt problem
In the same survey, 84% of existing Trust Deed Scotland® & Harper McDermott customers said that their mental health had improved, with 30.39% of our customers also saying that their physical health improved also.

What do people who have previously started a conversation with Trust Deed Scotland® say about their experience?

At Trust Deed Scotland® we currently have over [reviews] reviews from our customers, with a rating of 5/5 rating on Trustpilot. In addition to this statistic, our survey shows that: 97.7% of our customers said they were satisfied or better with the Debt Arrangement Scheme as their chosen debt solution. 98.8% of our customers said they were satisfied or better with a Trust Deed as their chosen debt solution. Our survey asked all active customers for their feedback and also those who had recently been discharged from a debt solution. Our Trust Deed Scotland reviews are just as important to us, not only as a signal that our customers are happy with the service that they have received from us but also because they allow people with problem debt in Scotland to find other individuals who were once in the same position that they too find themselves in Some of those reviews are anonymised by our customers to protect their own identities. Many of the reviews go into great detail, and some contain just a few words. Either way, they are always written completely in our customers’ own words describing their experience in their reviews and we’re always grateful to receive them; both good and bad. We’re always keen to take action on any feedback that we receive to make improvements to our processes wherever we can and continuously improve our own learning and development as a leading Scottish debt solutions provider. Our experienced debt advisers received reviews in the run-up to Talk Money Week 2022 which perfectly described many of the feelings that individuals have when they’re looking for help with their unaffordable debt.
Reviewing one of our experienced debt advisers Sharon, Sheila wrote: “Thank you to Sharon this process was a lot less painful for me. She put me totally at ease with my situation, was helpful, explained things well, was kind, friendly, and had a bit of humour. I felt like I was talking to a friend rather than a debt advisor. The whole experience took only 24hrs after struggling for the last 6 months to find the courage to call.”
Shaun, speaking about his experience with our debt adviser Michael, said “Great experience from start to finish. I had been trying to avoid a trust deed for a long time. Micheal, who I initially spoke with, was brilliant and made me feel at ease right away. He was very understanding and reassuring. The fact you only speak with the same person throughout the whole process is great. I felt I could contact Micheal at any point for advice, always available or would respond ASAP. Obviously, a highly experienced company that are calming during what can be an uneasy time.”
Another customer wrote about the beginning of her debt journey with Valerie by saying: “After burying my head in the sand with stress and worry for over a year, due to being laid off through covid and a looming court case, I just gave up on all debt and direct debits! But after getting back to work and the court case not having as bad an effect as first feared it would. There was still the weight and pressure of thinking I had messed up my life, by not paying debts and thinking I’d never get back on my feet, Then I heard of Trust Dead Scotland, and there was a lovely lady called Val that took on my case and from start to finish she was an absolute star, making me feel at ease with a solution that best suited. To even finding out who I owed the money to, as I had no idea what each creditor was due and what for. I really just had given up before and so had no clue, but after getting in touch with Trust Dead Scotland and Val, I can finally look to the future and il be back on my feet in no time.”

Start a conversation about your unaffordable debt

Our experienced, friendly debt advisers offer tailored debt advice and explain the advantages and disadvantages of any formal debt solutions that you may be eligible for. You can contact Trust Deed Scotland® on 0141 221 0999 or use our online form to find out more about your options. Talk Money Week 2020 Talk Money Week 2021 Talk Money Week 2022 Talk Money Week 2023 Talk Money Week 2024

Cost Of Living Crisis: Christmas

Posted on by Craig Stocks
More evidence has emerged of the extent Scots are worried about how they’ll be able to cope during Christmas. As a leading debt help company in Scotland, we’ve already helped many people across Scotland in December enter into a Trust Deed, or the Debt Arrangement Scheme and advised on other alternative formal debt solutions including the Minimal Asset Process route to Sequestration. However, the UK debt charity Stepchange commissioned a survey and it found that 30% of people in Scotland are expected to struggle to afford Christmas. A further 31% of people said that they expect to cut back this year. 3% said that they wouldn’t celebrate Christmas at all this year.

Problem Debt Can Happen to Anyone

The cost of living crisis is continuing to take up a large proportion of income with the survey showing that as many as 12% of the respondents said they feel that they had no choice but to rely on credit this Christmas. With inflation showing no sign of easing, and with energy bills set to worsen in 2023, more people may end up with problem debt than ever before. Statistics released by Trust Deed Scotland® earlier in the year showed that over 57.4% of our customers waited over a year before they did something about their unaffordable debt, however, the survey was conducted prior to the pressures of the cost of living crisis really squeezed most households.

Tips to Help Avoid a Christmas Debt Hangover in 2023

There are many guides available to help you have a more affordable Christmas for you and your family from Money Saving Gurus such as Martin Lewis to Mrs Mummy Penny. Here are our top tips to enjoy a more frugal Christmas this year: Calculate your budget – Calculate your budget and think about what you can realistically afford to spend. Christmas is one day and you don’t want to ruin the whole of the next year for it. Don’t buy unnecessary presents – We’re all struggling right now so consider making a ‘No Unnecessary Present Pact’ (NUPP) with friends, family or colleagues or at least agree to a Secret Santa with a £5 to £10 cap on gifts. Sometimes all it takes is one person to make the first move and everyone else is grateful for the gesture. Visit charity shops – Don’t only would you be giving to good causes but you could find unwanted, or next-to-new items and save some money in the process. Buy a cheaper Christmas day meal – You don’t need to get a fresh turkey bought in. Save money buying a frozen turkey or simply choose a more cost-effective alternative such as a Steak Pie. OK, it may be more of a traditional Scottish meal for New Year’s day but you’ll save money in cooking time alone. Look out for deals – From wine to early sales, keep an eye out for supermarket and online deals. Claim any cashback that’s going from TopCashback and Quidco. Start saving for next year, now – Putting a small amount aside each month, from this month onwards may help you make Christmas 2023 more affordable, and stress-free. Many of these tips may help with short term money management, however, if you are really struggling to manage your finances, with excessive interest and charges, or if you are not meeting your minimum payments on debts like credit cards, you may need to consider what your long term options may look like.

Help With Unaffordable Debt In Scotland

You should seek help as soon as possible if you feel that you are struggling with debt. Unaffordable debt can cause stress and anxiety, especially at this time of year with many people also reporting that it gives them sleepless nights, Tailored Scottish debt advice is available from our experienced debt advisers. They’re there to help you, not judge you, so don’t worry. You don’t even need to leave it until 2023 – check your options today and see if a formal debt solution is right for you or not. You will be able to make an informed decision and should you choose to enter into a formal debt solution, there are no upfront setup fees to pay. Try our Wizard tool to get started, or call us on 0141 221 0999.  

Trust Deed Scotland becomes Employee Owned

Posted on by Craig Stocks

LEADING personal insolvency firm Harper McDermott Ltd, one of the largest providers of Protected Trust Deeds and Debt Payment Plans under the Debt Arrangement Scheme in Scotland is embarking on an exciting future after transferring to employee ownership in a transaction led by business advisers Grant Thornton UK LLP.

The Glasgow-based company trades as Trust Deed Scotland® which since 2009, has helped more than 25,000 people resolve their problem debt. The Trust Deed Scotland brand was founded by Mark Sommerville and Jon Paul Kelly and is the best-known provider of Protected Trust Deeds in Scotland. It has more 5 Star TrustPilot reviews than all other Trust Deed providers combined with over [reviews] 5 Star reviews from Scottish customers.

The business is currently managing debt solutions for over 9,000 customers with £234m of debts under management, and a team of around 70 people – who are all now part-owners of the business – led by Managing Director and Insolvency Practitioner, Thomas Fox.

Thomas Fox said: “I am delighted to have become a part-owner in the business alongside our knowledgeable and experienced team, who I believe provide a best-in-class service to our customers.”

“We are all looking forward to the future with excitement and confidence and to helping many more people deal with their debt issues in a practical and compassionate manner.”

“Employee ownership provides many benefits; from existing staff retention through to attracting the best talent, it gives our team job security and brings us closer together as one team all working towards similar goals.”

“I am very grateful to the Grant Thornton team for leading us through this transition with such dedication and diligence.”

Neil McInnes, Partner and Head of Corporate Finance in Scotland at Grant Thornton said:

“We have been working with the business to help them consider the range of strategic options open to them.”

“Ultimately the best option for all stakeholders was to move to employee ownership via an Employee Ownership Trust (EOT), which gives the entire team a stake in its future success and provides a great incentive for staff loyalty.”

“We wish Thomas and the whole team at Harper McDermott every success in the future.”

Neil was assisted in the transaction by Akshay Sharma and the firm’s dedicated EOT team led by Monique Beaulieu and supported by Ollie Dewdney, which provide a holistic end-to-end service advisory service to businesses transitioning to employee ownership.

2.3m Scots Households Missed January Payments

Posted on by Craig Stocks
A new survey commissioner by the consumer watchdog Which? has found a record number of people missed a payment or defaulted on an unaffordable debt in Scotland in January 2023. Worryingly, the report showed that the number of households defaulting on debt repayment rose by 21% across the UK from £1.9m to £2.3m within one month. As the cost of living crisis continues to push households across Scotland to the limit and with interest rates, more people are struggling to repay debts. Speaking about the findings of their report, Rocio Cocha of the consumer group said “As the cost of living crisis continues to bite into household finances, we are calling on businesses in essential sectors – like food, energy and broadband providers – to do more to help customers get a good deal and avoid unnecessary or unfair costs and charges.” Which? research shows an alarming number of people are struggling with the financial and emotional impact of rising prices. For many people that means missing their mortgage payments, not paying rent or leaving their unsecured debt unpaid entirely. Trust Deed Scotland have already been busy in 2023 and have given confidential, tailored debt advice to hundreds of people who have since entered into a formal debt solution such as a Protected Trust Deed or the Debt Arrangement Scheme in order to take back control of their debt.

Would a formal debt solution help me to repay my unaffordable debt?

People with unaffordable debt in Scotland can get help from Trust Deed Scotland. Our experienced debt advisers have helped over [volume] people to regain control of their finances in Scotland and in a 2022 survey, 84% of our customers told us that their mental health improved as a result of entering into a formal debt solution with us,