We endorse the introduction of the new legislation, which provides enhanced accountability with regards to Debt Arrangement Schemes.
Edinburgh, Scotland (PRWEB) October 31, 2013
Scottishtrustdeed.co.uk, a leading provider of Scottish Trust Deed service and expertise, announces that it will carry out a full review and overhaul of its Debt Arrangement Scheme (DAS) services to ensure that they comply with recent legislation changes. Through the Accountant in Bankruptcy, the Scottish government has recently invested 250,000 pounds to make DAS more accessible to Scottish citizens who need assistance with their debt.
DAS does not involve filing for bankruptcy but instead provides a debt management solution allowing debtors to pay their creditors over an extended period of time. Many Scots are saddled with debt they struggle to repay, prompting the recent government changes intended to provide options for debt management that are greatly accessible.
According to the full article released by the Scottish Government, "The launch of this new, improved Debt Arrangement Scheme today is good news for the people of Scotland," Minister for Enterprise, Energy and Tourism, Fergus Ewing MSP said. "I recognise that many people in Scotland are struggling with their debt, and this Government is committed to ensuring that a range of options are available to help. Uptake of DAS has been growing in recent years and the changes introduced today will help ensure that thousands more can benefit."
Scottishtrustdeed.co.uk, which also specializes in trust deed Scotland services, will be reviewing its Debt Arrangement Scheme offerings to ensure compliance with any changes resulting from the revised legislation. Currently, the firm aids citizens in debt by helping them make the best choice to manage their debt based on their specific circumstances. Scottishtrustdeed.co.uk then helps get the process moving on whichever debt management option is best. Anyone interested in seeing if they qualify for a Debt Arrangement Scheme is encouraged to visit the website to fill out a small questionnaire or speak directly with one of Scottishtrustdeed.co.uk's financial advisors.
A representative from Scottishtrustdeed.co.uk welcomed the new laws, saying, "We endorse the introduction of the new legislation, which provides enhanced accountability with regards to Debt Arrangement Schemes. These specific policies will protect consumers and ensure a prosperous market in the Scottish isles. Furthermore, we are happy to note that no contributions are allowed to be paid by debtors from their state benefits towards settling their Debt Arrangement Schemes."
Pioneering Improvements to the Debt Arrangement Scheme
As a Scottish company renowned for its ethical and progressive debt solutions, Scottishtrustdeed.co.uk has been pivotal in delivering policies that provide an effective and fair deal for all their clients. In particular, the firm is making sure that the existing trust deed procedure is more efficient and fit for purpose and that the correct balance is achieved between the needs of debtors and creditors.
A more streamlined process will be the upshot of this, and customers who would otherwise find the process of managing their debts rather intimidating will be able to sleep easy. This assessment ties in ideally with the government's plans to standardize procedures and make debt arrangement solutions easier to access for those sinking in debt.
Scottishtrustdeed.co.uk is one of Scotland's leading providers of trust deeds, which are voluntary agreements that are entered into by any debtor who is unable to repay his or her debts. Scottish trust deeds give creditors who consent to this insolvency option a higher right to recover their funds from debtors; creditors who do not consent to trust deeds don't have a higher right to seek recovery of their funds from debtors. Once protected, all creditors are bound by the trust deed, and can take no further action against the debtor provided all the terms are adhered to. When the trust deed is completed, creditors cannot pursue any unpaid debt because it is discharged. For more information, visit http://www.scottishtrustdeed.co.uk.