When can you get debt advice and how can it help?

When should I get debt advice?

If you have problem debts they can lead to serious consequences if you don’t do something to address the situation. Ignoring your debts can lead to you losing your possessions, your home, your savings and you could be made bankrupt.

Getting debt advice as soon as possible can help you to deal with your creditors and, in many cases, can help you to improve your situation for the long term.

If your debt is at a level where you’re struggling to deal with it, causing you additional stress, to be caught in the debt cycle and maybe even to have sleepless nights worrying about it, then it’s strongly advisable that you seek debt advice… But what’s a good rule of thumb?

There’s no hard and fast rule. Debt’s relevant to how you feel about it, but as a very rough guide, if you’re more than 1/3 of your annual salary in debt, we’d recommend you speak to someone today!

Who can give me debt advice?

There are a variety of agencies that can provide you with debt advice. Complete our quick and easy debt advice form and one of our team will call you back to discuss your situation with you. All debt advice that we give you is completely free, and you have no obligation to enter into a debt solution as a result of any advice you’re given by Scottish Debt Help.

How can debt advice help?

When you get professional debt advice from any professional agency or company, the people you speak to can look closely at your personal situation, see who you owe money to and how much you owe.

The adviser you speak to can then discuss your options with you and help you to decide what the best course of action will be, depending on your personal circumstances and individual situation.

What can I do about my creditors and debts?

First and foremost, if you’re in problem debt, then it’s hugely important that you don’t ignore your creditors or your debts. They won’t go away.

Your situation with debt will only get worse if you don’t address it properly.

The sooner you take action, the more likely you are to be able to improve your situation without having to face being made bankrupt.

If you seek debt advice in time, then the following options could be available to you:

• Informal arrangements with your creditors,
• Extended time to pay your debts,
• Entering into a Debt Arrangement Scheme (DAS),
• Entering a Trust Deed: or,
• Applying for a Minimal Asset Process or your own Bankruptcy.

By getting debt advice, you can find out what’s involved in all of the above processes, how they can help, what the consequences of each would be, which are available to you and which would be most suitable for you. You can also find out if there are any other options that will help you to resolve your situation.

How will debt advice help?

As outlined above, getting debt advice can not only help you to find the right solution for your personal circumstances, enabling you to get out of debt and back on a sound financial footing, it can also help you to relieve the stress that comes with money worries. “A problem shared…” and all that.

In short, getting debt advice is the first step on the road to being debt-free as quickly as possible. If you’re struggling with debt, then the best advice we can give you is not to wait, get free debt advice and do something about it today!