Monday, 12 December 2011

Trust Deed Debt Option

Trust Deed Debt Option

Throughout Scotland the financial cost of living is taking its toll on many families. The ever increasing household bills and stagnant wages means that many families are falling into financial difficulty.

Help is available to help people repay their debts with Government legislation this comes in the form of Trust deed, Debt Arrangement Schemes and Sequestration. For many people they believe there problems are so bad that they are left with little choice but to move abroad, start afresh and walk away from their debt.

For many the pressure of being in debt can be too much to bare it affects everyone differently for some the only way out that they can see is to elope this is something they would not normally contemplate but they feel they have little choice. This will cross more people’s minds than you think.

Running Away Is Not The Answer

Running away or eloping is not a solution that any reputable debt advice company would recommend.

In days gone by it was known as a ‘Midnight flit’ and this name came from families leaving there homes in the dead of the night to avoid paying their creditor (landlords or anyone chasing them for money).

If you pay nothing to your debt for 6 years and your creditors cannot get hold of you within this time it will eventually become ‘Statue Barred’ and if the creditors manage after this to get hold of you they can make no attempt to contact you because after 6 years it is seen as harassment.

The down side is this will be marked on your credit file and should you return to the UK this will have an impact on you should you seek credit.
The other things to consider.

• Where would you live and work?
• Would you be able to communicate?

Also remember creditors will go to any length to find you. They will pull out every trick in the book. They may contact family members they will check all addresses they will check goggle can you live with this pressure?

They may also trace you abroad though they will be unable to pursue you for the debt it will be a constant reminder of what you have left behind.

If you live in Scotland the best thing you can do is contact Debt Support Trust they will help you resolve the Debt this advice is all free.

Running away from debt is not something anyone should do if it is a dream keep it as that.


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