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Debt Calculator

Our Debt Solutions Calculator provides indicative results based on the amount of debt you enter. An adviser will call you to explain the solutions available to you. The results the calculator generates represent the minimum amount of disposable income you would need to have for each relevant debt solution after living costs are taken into account. However, the true amount of your monthly contribution is determined by your disposable income. 

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Debt Solution Guides

Trust Deed Scotland

A Scottish Trust Deed is a formal, legally binding arrangement between an individual and their creditors which lasts for a period of 4 years, after which the debt is written off.

It reduces unaffordable multiple payments to creditors to a single affordable monthly payment to the Trustee. A Protected Trust Deed offers protection from creditors taking legal action against you, and protects your home and car from repossession.

DAS (Debt Arrangement Scheme)

The Debt Arrangement Scheme is statutory debt management scheme established by the Scottish Government and available to residents of Scotland.

It allows you to freeze interest, fees, penalties or charges on your debts and make one affordable monthly payment towards your debts via the payment distributor. In addition, as long as you maintain payments to your mortgage and car you do not have to worry about losing them as a DAS prevents creditors from taking legal action against you.

IVA (Individual Voluntary Arrangement)

An IVA (Individual Voluntary Agreement) is a legal agreement between an individual and their creditors that restructures your debt into affordable repayments so that it has been written off after 5 years.

It reduces unaffordable multiple payments to creditors to a single affordable monthly payment to the Trustee. An IVA offers protection from creditors taking legal action against you, and protects your home and car from repossession.

Bankrupcty (Sequestration in Scotland)

Sequestration (Bankruptcy in Scotland) is a formal insolvency process, whereby a Trustee takes control of an individual's estate and will deal with the creditors on their behalf. The debtor normally agrees to make 4 years of monthly payments towards their debts after which time they are written off.

Bankruptcy (England, Wales and NI)

Bankruptcy is a legal process which lasts for 12 months after which a person is discharged from their debts (subject to some exclusions). In most instances the Debtor will be require to make payments for a further two years.

Carrington Dean

Fyfe Chambers,
105 West George Street,
Glasgow, G2 1PB 

0141 221 2323

Opening Hours

Mon: 8:30am - 8:00pm
Tues: 8:30am - 8:00pm
Wed: 8:30am - 8:00pm
Thu: 9:00am - 8:00pm
Fri: 9:00am - 1:00pm
Sat: Closed
Sun: Closed

© 2017 The Carrington Dean Group Limited.

Authorised and regulated by the Financial Conduct Authority. FCA No: 674395

Registered in Scotland, Company Registration No SC 225672. Registered Address: Fyfe Chambers, 105 West George Street, Glasgow, G2 1PB