Category: Debt Advice News

Rising bills today could leave over 1 million people in Scotland short in retirement

Posted on by Craig Stocks
Rising living costs are not just affecting today’s bills More than 1m people in Scotland could be undersaving for retirement, based on a Scotland-equivalent estimate of the latest Pensions Commission warning. The Pensions Commission’s interim report, published on 19 May 2026, warned that 15 million people across Britain are currently undersaving for retirement, with that figure potentially rising to 19 million without action. Scaled to Scotland’s share of the official population, that is equivalent to around 1.2 million people in Scotland today, potentially rising to around 1.5 million. For many households, this is not simply a case of choosing not to save. It is increasingly about whether there is anything left to save at all. At Trust Deed Scotland, our own customer survey data found that 55% of customers are working extra hours to deal with debts they can’t afford to repay in full. That paints a clear picture: many people are already stretching themselves just to cover everyday costs, before they can even think about building savings, emergency funds or pension pots.

Scotland’s retirement savings gap is becoming harder to ignore

Auto-enrolment has helped millions of workers start saving into a pension. But the Pensions Commission warned that the job is only ‘half done’, with many people saving only the minimum amount and others not saving into a pension at all. The Commission reported that 45% of working-age adults, around 18 million people, are not saving into a pension at all, despite nearly half of them being in work. Scaled by population, that is equivalent to around 1.4 million people in Scotland. MoneyWeek also reported that around 43% of the working-age population, equivalent to 15 million people, are undersaving based on retirement income replacement measures used by the Commission. That matters because the longer someone goes without saving enough, the harder it can be to catch up later.

Cost of living pressure is changing financial priorities

The challenge is that pension saving competes with immediate financial pressure. When rent, mortgage payments, council tax, food, energy bills and debt repayments are rising, long-term saving can feel out of reach. For someone already working extra hours to stay afloat, increasing pension contributions may simply not feel realistic. This is where the pensions debate connects directly with the cost-of-living crisis in Scotland. Rising costs are not only making it harder for people to save for retirement; they may also push some people to consider using existing savings pots earlier than planned. The Pensions Commission warned that, on current trends, around three in 10 private pension pots are accessed at the earliest possible opportunity, while half of all pots are taken out in full. Nearly half of these are spent on large expenses such as a car, holiday or home renovations. For people under serious financial pressure, the temptation to use long-term savings to deal with short-term problems can be strong. But it can come with consequences.

Should you use a pension pot to deal with debt?

Using pension savings to pay off debt may seem like a way to get breathing space, especially for those old enough to access some pension funds. But it is not a decision to rush. Taking money from a pension could leave you with less income in retirement. It may also affect tax, benefits, future financial security and the suitability of some debt solutions. This is especially important if you are already struggling with repayments. A pension withdrawal might reduce one pressure today but create new problems later.

What to do if debt is stopping you from saving

If debt repayments are making it impossible to save, the first step is to understand the full picture. That means looking at:
  • Your income, including wages, benefits and pension income
  • Essential living costs
  • Priority bills such as rent, mortgage, council tax and energy
  • Unsecured debts, including loans, credit cards, overdrafts and catalogues
  • Whether your current repayments are affordable
For people in Scotland, there may be formal debt solutions available depending on their circumstances. These can include the Debt Arrangement Scheme (DAS), Protected Trust Deeds, Sequestration, or other options. A Protected Trust Deed is not suitable for everyone, but for some people in Scotland it can help make unsecured debt repayments more manageable and may write off unaffordable unsecured debt after successful completion.

Saving for tomorrow should not mean ignoring today

The Pensions Commission’s findings show that Britain faces a serious long-term savings challenge. But in Scotland, the day-to-day reality for many people is more immediate: wages are being stretched, bills are rising, and extra hours are becoming necessary just to keep up. That is why conversations about retirement saving cannot be separated from conversations about debt and affordability. If you are struggling to save because debt repayments are taking up too much of your income, it may be time to get advice. Understanding your options could help you regain control of today’s finances and give you a better chance of planning for the future. If you live in Scotland and are worried about debt, Trust Deed Scotland can help you understand your options. You can check whether a Protected Trust Deed or another Scottish debt solution may be suitable for your circumstances. Use our Wizard tool to get started or give us a call on 0141 221 0999. You can also chat to an experienced debt adviser using our WhatsApp service.

New Scottish Debt Help Statistics Released

Posted on by Craig Stocks
According to the latest Scottish government statistics, every 40 minutes someone uses a formal debt solution in Scotland to write off all, or part of their debt… or just repay what they owe with no more interest or charges. The three main formal debt solutions in Scotland are Protected Trust Deeds, the Debt Arrangement Scheme (DAS) and Sequestration. Some other informal debt solutions exist such as Debt Management Plans but aren’t included in the statistics.

Debt Advice in Scotland

Trust Deed Scotland® is the No.1 debt solutions provider in Scotland in 2024, specialising in setting up Trust Deeds and the Debt Arrangement Scheme and also giving tailored debt advice on all alternative solutions including Sequestration (the Scottish equivalent of Bankruptcy). 98.6% of our proposed Trust Deeds gain protection status last year – making us No.1 in Scotland¹. 99.8% of our proposed Debt Payment Programmes (DPPs) under the Debt Arrangement Scheme are approved by creditors². The latest statistics for 2024 show that this year, Trust Deed Scotland® have helped more people enter into one of these formal debt solutions than any other Scottish debt help company.  

Trust is Everything

Since 2009, we have given over [volume] people Scottish debt advice. You can trust us to recommend the best solution for you too. As an employee-owned company, Trust Deed Scotland® truly care about providing outstanding service throughout our customers’ debt help journey. Ensuring the best outcome for our customers is of the utmost importance to our staff. This care for our customers is reflected in our TrustPilot and Google reviews. With over [reviews] 5-star TrustPilot reviews, we have more 5-star reviews on TrustPilot than all other Trust Deed providers combined. 98.1% of our customers rated our service as Excellent on TrustPilot³. “Val has supported us through the process in an extremely understanding, professional, and empathic way. There is no judgement, each member of the team helps provide information to allow you to assess which debt plan is appropriate for you. Thank you very much for all of your help Val, we urge anyone who is experiencing debt issues to please don’t hesitate to contact Trust Deed Scotland. I will certainly sleep better tonight thanks to Val and the team.” Pamela “I would just like to say thank you to Soreena and the team at Trust Deed Scotland for everything they/she has done for me and my family. The first step is the worst but with compassion and understanding she put my mind at ease and talked me through every step and assured me they/she where there to help, she was like a guardian angel for me and can’t thank her enough for that.” Steve “I have to say a huge thank you to Matthew for being so caring and understanding. I suffer from mental health issues and was really upset about having to go through all this but Matthew made the process easy to understand and assured me every step of the way. I felt so embarrassed about getting into debt but Matthew made me feel so much more relaxed and he explained everything to me in an understandable way. I now feel a weight has been lifted from me.” Carol

Get Debt Help Today

Many people across Scotland are struggling to make ends meet. If you are in need of debt advice, you are not alone. As the No.1 debt solutions provider in Scotland, Trust Deed Scotland® advise people on the available Scottish debt solutions and our team of experienced debt advisers will talk you through your options so that you can make the best choice for you based on your affordability, lifestyle and needs. There is no obligation to go forward with a debt solution during your call with us. We are happy to provide you with the information to help you make the most informed decision for your future finances. We advise, you decide. So don’t delay, get in touch today.
¹In 2023, we achieved a protection rate of 98.6%, this made us the best performing volume provider of Protected Trust Deeds in Scotland. Trust Deeds advertised between 01/01/23 and 31/12/23. ²In this sample of 2,839 Debt Payment Programmes (DPPs) under the Debt Arrangement Scheme (DAS), approved between January 2021 and December 2023, only 7 proposed DPP were rejected and unable to proceed. ³Reviews collected between October 2012 and March 2024, a total number of 9,318 reviews were received, 9,138 people rated us as ‘excellent’. A further 162 people rated our service as ‘great’.

Trust Deed Scotland leads way with new Scottish Trust Deed Protocol

Posted on by Craig Stocks
Trust Deed Scotland’s owner, Harper McDermott Ltd, is one of the first Scottish debt companies to agree to a new Scottish Trust Deed protocol. Described officially as the PTD protocol, from 1 October 2021 onwards, a number of firms that offer a Scottish Trust Deed as a formal debt solution have committed to changes designed to improve the solution for the benefit of all parties. In 2020 after lengthy discussions between the governing body for Trust Deeds, the Accountant in Bankruptcy (AiB) and the Scottish government, it was agreed that the AiB, in agreement with Trustees and Creditors, could introduce operational changes in the short-term to improve existing processes and fill any gaps identified in the dialogue between the AiB and the Scottish government. A Trustee is a person responsible for handling the administration of your Trust Deed, Creditors are the people to who you owe money to. The intention is to promote good practice, improve transparency and provide further clarity in support of the revised AiB PTD Notes for Guidance, better enabling Trustees to manage debtor and creditor expectations in a Protected Trust Deed. These changes include:
  • Wherever practicable, an interim dividend should be paid to creditors after month 12 from the date the trust deed is granted and quarterly thereafter.
  • Should a trustee decide to withhold the debtor’s discharge from their liabilities included in the PTD, they must first submit a completed ‘Application to Refuse Debtor Discharge’ form to AiB for consideration and to seek agreement.
As Scotland more trusted debt solutions provider, with over [reviews] 5 star reviews on the independent review platform Trustpilot, it is only natural that we were one of the first companies to sign up to the new PTD protocol. Our Insolvency Practitioner, Thomas Fox, acts as Trustee for all of our Trust Deed customers and he was heavily involved in the creation of this Protocol, being part of the Accountant in Bankruptcy’s working group that reviewed the Government’s recommendations and agreed on the key areas that could be addressed in a protocol. The new Scottish Trust Deed protocol is not a regulatory requirement; however, the Accountant in Bankruptcy is encouraging other Trust Deed providers to sign up alongside Trust Deed Scotland and the other providers. As a leading formal Scottish debt solutions provider, Trust Deed Scotland has long been an ambassador of improving debt support for people across Scotland.

Help with unaffordable debt in Scotland

Trust Deeds are only one formal solution that can help people with their unaffordable debt, other formal alternatives exist such as the Debt Arrangement Scheme (DAS) and Sequestration. In order to find out what solutions you may be eligible to apply for, we always recommend talking to an experienced debt adviser. Not all debt solutions providers are the same. At Trust Deed Scotland, we’ve advised over [volume] people in Scotland by providing them with tailored debt advice and our customers are at the centre of everything we do. Call us on 0141 221 0999 today or, complete our online form.

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.

25% Of Scots Wait 3 Years Before Seeking Debt Help

Posted on by Craig Stocks
Christians Against Poverty Scotland have released a new report that shows that 25% of the people that they helped in Scotland waited between one and two years before seeking help with their debts, and a further 25% waited three years or more before seeking help. Worryingly, 45% said that they did not know where to get help. CAP Scotland is a national charity that works with 715 affiliate churches, looking to help the vulnerable people out of poverty, UK-wide.
  • 12% Didn’t wait to seek help.
  • 27% Waited less than one year.
  • 25% Waited 1-2 years.
  • 25% Waited 3 years or more.
  • 11% Unknown
A rise in non-priority debt e.g. credit cards, personal loans and catalogue debts, saw the average debt level in Scotland increase to £17,917, of which £12,065 was identified as being non-priority debt. On average, CAP Scotland clients have 9 non-priority debts and the most common types of non-priority debts their clients reported were personal loan (69%), credit card debts (63%), mobile phone debt (46%), overdraft debt (38%) and catalogue debt (34%). In terms of priority debts, council tax arrears (40%), rent arrears (10%), energy arrears (9%) and mortgage arrears were the common types of debt that their clients sought help for. Low income, mental ill-health, relationship breakdown, long-term illness and unemployment were identified as the most common reasons that caused a debt crisis for their clients. 71% said that debt impacted their relationship, with 19% citing debt stress as the reason for a relationship breakdown. 44% are unable to afford adequate clothing 37% sacrificed meals 37% went without heating 31% are unable to afford basic toiletries 28% said they had considered or attempted suicide as a way out of debt. 20% were unable to afford to light their home. Speaking on the finding of the CAP Scotland report, Gareth McNab, Director of External Affairs said: “The full effects of the global pandemic will not be felt for some time; we know that one in four (25%) CAP clients wait over three years before seeking debt help. The debt advice industry is anticipating rising numbers in need of debt advice. More must be done to reach and help households struggling. Joined-up working is needed more than ever, forming partnerships to combat the financial fallout of the pandemic. Yet we cannot forget that even before COVID-19, households were struggling and, without change, people will still struggle in the future. Unless we do something about it” You can read the CAP Scotland 2021 client report.
As a leading Scottish debt advice company, having helped thousands of people with their unaffordable debt, Trust Deed Scotland® have received over [reviews] reviews on Trustpilot where many people tell us things like “I wish I got help sooner” or “I can sleep again at night, now that my debt is under control again.” The fear of being judged, or feeling ashamed or embarrassed about having debts are often spoken about by our clients in regards to reasons why they put off seeking debt help. In April 2021, Lauren said: “After being hesitant for a while to contact Trust Deed Scotland, I am so glad I did, as Pamela was so friendly, understanding and non-judgemental during the process. I would 100% recommend anyone struggling with financial difficulties to get in touch. I wish I had sooner.” Also speaking in April 2021, Louise said: “Called Trust Deed Scotland eventually after months of worrying about mounting debt and just wish I’d have done it sooner. Soreena dealt with my case and couldn’t have asked for anyone better than her. She listened and totally understood everything I said and never judged me at all. I can now look forward to receiving my wages every month, knowing that everything is going to be paid in one payment and might even have some left now.” Earlier in the year, in January 2021, Jamie said: “I couldn’t have been made to feel more comfortable, I was always quite ashamed to talk about my debt. Vicky made me feel completely at ease and made the whole process seem so simple.”

Help with unaffordable debt in Scotland

If you live in Scotland and you are struggling with your finances, you can find out more about your options by calling Trust Deed Scotland® on 0141 221 0999. Alternatively, you can also download our Scottish debt solutions guide. Our experienced team can give you confidential advice, that with help you understand the pros and cons of all formal debt solutions in Scotland such as Trust Deeds, the Debt Arrangement Scheme and other Scottish Debt Solutions. Once we know more about your situation, we are then able to give you tailored debt advice that fits your individual requirements.

Is A Trust Deed A Good Idea?

Posted on by Craig Stocks

Is A Trust Deed A Good Idea?

Trust Deeds help thousands of people in Scotland manage their unaffordable debts and reduce their monthly debt repayments to an amount that they can afford to repay on a regular basis. However, Trust Deeds aren’t a solution suitable for everyone and there are alternative debt management solutions in Scotland that can be just as effective or better. You can read more about how a Trust Deed works and the criteria within that link, or you can apply for a Trust Deed online, right now. The decision to proceed with a Trust Deed is based on you, your affordability and what is best for your long-term financial stability, rather than whether a Trust Deed is a good idea or not. Get in touch with Trust Deed Scotland® today and you’ll receive a personalised illustration.

Affordable Monthly Repayments?

The solution(s) open to you will largely depend on how much debt you have and how much you can afford to repay on a regular basis. If you have already defaulted on debts such as credit cards and loans, you may be familiar with income and expenditure guidelines, or budget sheets sent to you from your creditors. The same guidelines are largely available from debt charities and Money Helper websites. These budget sheets will ask you to write down a list of your income and expenditure details and what you usually spend on priority bills such as mortgage/rent and council tax.  These will also include what you spend on travel expenses per month, clothing and many other expenses Whatever monies are leftover is known as your disposable income. These are the funds that you have leftover to repay your debts. A debt charity service or a company such as Trust Deed Scotland® have the experience of advising on the acceptability criteria for these guidelines for these and can work with you to find out any hidden expenses that you may not take into account, and establish what your true disposable income is. This is important because if you are to enter a Trust Deed, or any other form of debt management solution, you will be making a commitment to repay a regular amount over a number of years. Where you fail to keep up the repayment of your Trust Deed, you could end up with a failed Trust Deed, ultimately leading to you being potentially sequestrated. More importantly for you, you would be no better off than when you first sought advice. This is where the experience and trustworthiness of your debt expert is important. Trust Deed Scotland® have advised over [volume] people since 2009 and have gathered thousands of five-star Trust Deed reviews on TrustPilot. We pride ourselves on our commitment to compliance and training. We genuinely want the best outcome for our clients and always have their best interests at heart.

Alternatives to a Trust Deed?

The Debt Arrangement Scheme is a popular alternative debt solution available to residents of Scotland. It’s a statutory debt repayment plan which also uses legislation to allow you to freeze interest and charges and bring your debts under control. There are advantages to the Debt Arrangement Scheme:
  • Personalised debt repayment plan based on your situation
  • Monthly payments will be based on what you can afford
  • Interest on your debt will be frozen
  • Protection against creditor action.
  • Assets protected meaning you will not be asked to sell your house, or your car.
  • Your Money advisor deals with creditors on your behalf.
There are also disadvantages of the Debt Arrangement Scheme:
  • May last longer than the typical 48 months offered by a Trust Deed.
  • Subject to certain conditions. Includes making all payments towards your Debt Payment Plan and paying your monthly expenditure and bills when they fall due. If you fail to make payments, your plan could be revoked.
  • Unable to obtain credit or use an overdraft while you are in a Debt Payment Plan.
  • Credit rating will be affected.
Depending on the severity of your situation, Sequestration may be the best way for you to resolve your debts. On the other hand, a debt consolidation loan or negotiating debt repayment plans directly with your creditors may also be better for you. Refer to our article regarding is a DAS worth it for further information on this solution.

Advantages of Trust Deeds?

There are many advantages of Trust Deeds, a few of which are:
  • Pay back what you can afford.
  • Your Trustee will deal with creditors on your behalf.
  • You will be protected against creditor action.
  • On the successful conclusion of a Trust Deed, your remaining debt will be written off.
  • If you own assets such as a property, you agree with your Trustee in advance whether the Trust Deed affects them.
  • You may be able to remain as the director of a Limited Company.

Disadvantages of Trust Deeds?

  • Your credit file will be updated to reflect that you have signed a Trust Deed. This information will remain on your credit file for six years.
  • As a result of this, you may find it difficult to get credit for a period after your Trust Deed is finalised.
  • For a Trust Deed to become protected, you must convey all your assets to your Trustee. That includes any property that you own. In certain circumstances, it may be possible to exclude your property, but you need to get clear advice on this when you speak to a debt advisor.
  • As mentioned earlier, failure to keep up with repayment of your Trust Deed could result in you being sequestrated. Therefore, it is important that you re fully aware of the Pros and Cons of a Trust Deed and that the amount you repay is realistic for all parties.

Can You Have 2 Trust Deeds?

If you have already been through the process and came out the other end then yes, you can get a Trust Deed twice. If you’re currently in a Trust Deed with a different company then you may also be able to get a second Trust Deed but there are some conditions attached. You can find out more about the process involved in our article on how to get a Trust Deed twice.

How to Get Trust Deed Advice?

If you really want to know if a Trust Deed is a good idea, seek tailored debt advice today. We’re open from 9am to 8pm during the week, and selectively during the weekends. If you do something about your debt today, you don’t need to worry about it tomorrow. Reputable debt advice companies and debt charities are regulated by governing bodies, this should help ensure that you are not ‘sold’ into a Trust Deed and that you are fully aware of the pros, cons and alternatives. Remember, a Trust Deed may not be for you, but that doesn’t mean that you are beyond help. The sooner that you seek help, the sooner you can begin to understand what options are open to you. You can also learn more a similar question of Is DAS Worth It? which investigates the Debt Arrangement Scheme in a similar fashion to the article above of the merits of whether a Trust Deed is a good idea.

6 Scottish Debt Help FAQs In 2020

Posted on by Craig Stocks
Having given Scottish debt help to over [volume] people in Scotland by giving them valuable Scottish debt advice and appropriate solutions, it’s fair to say that we get a lot of questions on a daily basis from people struggling with unaffordable debts. Here are some of the questions being asked in this week’s Trust Deed Scotland® QandA sessions.

What happens after signing the Trust Deed?

Once the Trust Deed has been signed it will be published on the ROI and within 7 days of registration, your creditors will be written to with details of your Income and Expenditure, Statement of Affairs and other statutory documents. The Trust Deed will then be registered as protected following expiry of the 5 week period from the date of the initial publication on the ROI, provided a third in value or a majority in number of creditors do not object to the Trust Deed proposal.

Am I protected during a DAS application process?

Your approved money adviser will be able to assist you in advising the DAS Administrator that you intend to apply for a DPP – this is referred to as an “intimation”. An intimation will protect you from enforcement action by creditors for an interim period of up to 6 weeks prior to the submission of your DPP application. You are only allowed to submit one such intimation in any 12-month period. See also recent changes to the Statutory Moratorium allowing greater protection for you. What is a DAS?

Will I be able to use credit whilst in a Trust Deed?

Whilst there is no legislation to restrict you from using credit, there will be no allowance given in your income and expenditure for any repayments, therefore, it is deemed inappropriate to incur further debt whilst in a Trust Deed. This applies also to other Scottish debt help solutions including Debt Arrangement Scheme and Sequestration.

Do I need to be a homeowner to sign a Trust Deed?

No. There is no restriction on your living arrangements.  You can be a homeowner, live in your partner’s home, private/council/housing association tenant or live with your parents. Remember also that a Trust Deed is neither an unsecured loan, or a secured loan and varies from debt consolidation loans.

Why would a Trust Deed be the right choice for me?

One of the best aspects of a Trust Deed is a confirmed date when your payments will stop and your debt will be cleared, which is usually within 48 months. If you can see an end to the problem then your future may a lot brighter. Other benefits of Trust Deeds as a Scottish debt solution are:
  • You will have only one affordable monthly payment to your creditors.
  • All of your interest is frozen
  • There is no initial set up charge
  • All creditors are bound by the Trust Deed and are therefore prevented from taking legal action and all pressure from them is stopped.
However, this doesn’t always mean that a Trust Deed is a good idea for everyone. We would always recommend getting expert Debt Advice in Scotland and at Trust Deed Scotland®  we would give you a personalised illustration of the options open to you and the Advantages and Disadvantages.

Where can I get Scottish debt help?

You can get Scottish debt advice today with Trust Deed Scotland®. There are a variety of debt solutions available in Scotland to help deal with your debts, regardless of the minimum or maximum amount of debt that you owe. You can find out more about the solutions by visiting our online debt advice page Or, if you would prefer to speak an experienced debt adviser, you can give us a call on 0141 221 0999 to find out more. Any advice offered is tailored, balanced, and non-judgemental. Find 1000’s of 5* Reviews on TrustPilot. We’re the leading debt relief company in the whole of Scotland.

Covid-19 Trust Deed Scotland Update

Posted on by Craig Stocks

Covid-19 Trust Deed Scotland update

  We would like to update you on our approach to service delivery, in light of the current and evolving covid-19 situation and with a consultation with current  Government covid-19 advice. We have taken all the necessary precautions to support the continuity of our business and we are available to help you and provide a solution to your problem debt, please call us on 0141 221 0999 or contact Trust Deed Scotland today. Our head office in Glasgow remains open to take calls from 9am – 7.30pm Monday – Thursday and 9am to 4pm on Fridays and we are continuing to help you in what remains to be a very unsettling time for all of us. Face to face appointments at our office is once again possible, adhering to current Scottish government advice around social distancing. contact Trust Deed Scotland today to reserve a slot. If you are in need of debt advice, please do not hesitate to get in touch. In the meantime, we hope that you and your families stay safe and well. Kind regards The team at Trust Deed Scotland 

Debt And Mental Wellbeing

Posted on by Craig Stocks
NOTE: Whilst the following article was written during the height of the Coronavirus pandemic, most of the advice remains true. More recently, the cost of living crisis has resulted in a need for many of the same type of information, albeit with more budgetary reasons. See coping with the cost of living crisis for more relevant information, tips & advice.
You might find yourself feeling worried about the spread of Coronavirus and its impact on you and your loved ones. The undetermined length of time that Covid-19 will be upon us. Sensationalised headlines and what seems like endless wrangles of red tape getting the help that you need with your finances. These feelings are normal and it’s important that we acknowledge them and remind each other to look after our physical and mental health. We’re having to spend more time at home, perhaps isolated from our friends, family and other relationships that we know are vital to keeping ourselves mentally healthy. It may also be harder for us to do the things that normally help keep us well. And, for those with either new or existing issues with finances – while it’s true that most credit card and loan lenders are being more lenient, calls are still being made by creditors and their debt collection agencies; letters are being triggered automatically on default of payments. During the Coronavirus lockdown, we are entitled to one form of outdoor exercise per day – walking, running or cycling. However, some parks around Scotland have been closed to stop people congregating – really we should be avoiding going out at all, where possible. The NHS has published a list of Gym-Free exercises to help. Here is the Trust Deed Scotland® list of recommendations for home-based Coronavirus exercises. 1. Yoga Doing yoga on a regular basis can be extremely beneficial for your flexibility, help you boost your strength and improve your overall fitness. If you would like to practise your downward dog in your living room with the help of an instructor, you can do so by joining in CorePower Yoga’s live classes. 2. Dancing Seen On Screen offer dancers of all levels the chance to learn routines inspired by stars including Beyoncé, Rihanna and Britney Spears by Zoom. Check out their Instagram account for more information 3. Cardio Barry’s UK, the fitness studio famed for pushing its participants to the physical limit, has brought its intense workouts to Instagram live. Find out more about the Peloton app on Apple and Android – High-intensity workout classes and it’s a free trial for 90 days. Don’t forget to set a reminder to cancel the trial! 4. Boxing You can also investigate Boxercise and similar exercise being streamed to your home; however, while its not strictly a Boxercise, you can do no wrong by checking out Heavyweight champion Tyson Fury’s workout. Many other celebrities from the sporting community are helping to keep the nation fit with similar videos, so keep an eye out for these as well. 5. Martial Arts By burning calories and toning muscles, martial arts help you lose weight and maintain healthy body weight. Stamina. Since martial arts provide a full-body workout, they increase overall stamina and endurance. Tai chi is a particular favourite of the Trust Deed Scotland® team, also called tai chi chuan, combines deep breathing and relaxation with flowing movements. Originally developed as a martial art in 13th-century China, tai chi is now practised around the world as a health-promoting exercise. Studies have shown that tai chi can help people aged 65 and over to reduce stress, improve posture, balance and general mobility, and increase muscle strength in the legs – making it ideal for our older Scottish citizens self-isolating to also join in.  

Other Home-Based Exercises

Good Housekeeping published a list of 25 live stream fitness workouts, which Trust Deed Scotland® also recommends you browse for inspiration. We’re always on the look out for new recommendations, you can get in touch with us at enquiries@trustdeedscotland.net with any home-based suggestions that can help improve our mental wellbeing while we battle with the coronavirus pandemic. Perhaps you’ve been furloughed and self-employed personal trainer that has been forced to remain closed due to the current situation. We look especially love to hear from you. Also consider combining your essential shopping trips with your permitted outdoor exercise. E.g. leave the car and walk to the supermarket instead. This is especially appealing us those needing to still take public transport to and from the supermarket. Where public transport, or a taxi is essential for bringing home shopping, you can consider walking there and getting a bus, train or taxi home.  

Coronavirus Debt & Mental Health Links

  For some people living in Scotland, the Coronavirus outbreak may trigger compulsive thoughts and unhelpful behaviours, particularly if you have pre-existing conditions such as an anxiety disorder or Obsessive Compulsive Disorder. If you are receiving support for your condition, you might find it helpful to talk to your clinician, therapist, or other medical professionals. There are also an increasing number of online resources available for you. Anxiety UK: Help for Health and other forms of anxiety during Coronavirus Beat Eating Disorders: Coronavirus and Eating Disorders BBC: Coronavirus: How to manage Anxiety and OCD during the pandemic OCD-UK: Tips for people managing OCD throughout the Coronavirus epidemic Rehab Recovery – Addictions helpline SAMH – Coronavirus and your mental wellbeing It’s important for our mental wellbeing that we continue to keep our minds active during the Coronavirus pandemic as there is a well-established link between debt and mental health. Government surveys report that in Scotland: • 16.66% of the Scottish population are living with a mental health problem (Office for National Statistics) • 25% of the population in Scotland with a mental health problem is living with debt or arrears • Three times as many adults with mental health problems report debt or arrears, compared to those without mental health problems (Office for National Statistics). On the basis of these Office for National Statistics figures, as many as 143,500 adults in Scotland with mental health problems may be living with unaffordable debt or arrears. Debt is not only an issue for people already living with a mental health problem. Research studies indicate that debt can be both a consequence and catalyst of mental health problems, including: • Anxiety and Stress • Depression • Self-Harm & Suicidal Thoughts • Strain on Personal Relationships, Social Inclusion and Self-Esteem.

Coronavirus & Unaffordable Debt

During the Coronavirus pandemic, Trust Deed Scotland® has been continuing to help people with unaffordable debts and some of the people we’ve given advice to are experiencing higher levels of anxiety and other forms of mental health problems. If you do something about your debt today, you can stop worrying about it tomorrow. Find out more about Trust Deed Pros and Cons and alternatives such as DAS (Debt Arrangement Scheme) in our Scottish debt solutions guide. Call us now on 0141 221 0999 for non-judgemental, confidential advice. We’re here for you throughout the Coronavirus pandemic & beyond. Our highly trained and experienced debt advisers have excellent listening skills and have helped over [volume] people in Scotland look forward to a life after debt.

Google crackdown on misleading debt service ads

Posted on by Craig Stocks

Google has restricted its advertising product availability for bogus debt companies in a move welcomed by Trust Deed Scotland®.

You can read our article on the Daily Record here

Any debt advice firm wishing to advertise on Google will be forced to provide official accreditation of a UK regulatory body before being allowed to advertise on Google.

Amanda Hendry of Trust Deed Scotland® advised “We’ve been aware of a number of firms operating, passing themselves off as the official Trust Deed Scotland® for a number of years now. Remarkably, these ‘lead generation companies’ can come as far away as India, the Philippines and more commonly from call-centres based in England.

Not only does this cause uncertainty in the market but it also opens up consumers to receiving advice below a standard that we here at the official Trust Deed Scotland® pride ourselves upon.

We have heavily invested in our own compliance and call recording technology and regularly commit our advisors to regular training sessions.”

Trust Deed Scotland® have been helped over [volume] people in Scotland by providing Debt Help in Scotland.

A growing concern

There have been over 83 instances of fraudulent impersonator websites reported for advertising on the platform in 2019 as a debt charity, an increase from 46 the previous year. A staggering 80% increase.

Trust Deed Scotland® added “People who need financial advice are often vulnerable and susceptible to calls and online offers from individuals offering ‘government approved solutions.’

This, in fact, can result in a worsening of their finances as those companies then aim to sell their details onto effectively the highest bidder.”

Matthew Lavine, of Google who is employed as a product policy specialist, said of the issue: “This is the culmination of extensive work by our policy teams globally and we have listened to and consulted with debt advice charities and other organisations whose users will benefit from this policy.”

Spoofing

Likewise, there has been an increased number of ‘spoofed’ numbers in the industry. This is the practice of rogue companies changing caller ID screens using VoIP technology from abroad to mimic the telephone numbers of known debt companies such as Trust Deed Scotland® an issue that Ofcom are working with international regulators to find solutions for alongside

The Internet Engineering Task Force (IETF), which helps to develop standards on the internet. Together they have created a group designated to solving this problem.

If you ever receive a call from a company pertaining to be from Trust Deed Scotland®, remember that the official Trust Deed Scotland® will never buy your data from a third party, nor pass your data onto any other 3rd party.

You will never receive a cold call from Trust Deed Scotland®. If in doubt, hang-up and contact the official Trust Deed Scotland® on 0141 221 0999.