now have a collection agency after me

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bmp

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Post by bmp » Fri Jan 19, 2007 10:28 am
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I live outside the UK and have debts in Scotland and now have a collection agency after me. Where do I turn, I have been willing to pay off the debt but it is increasingly eating into my monthly income.
I have thought of bankruptacy but I am working and earning, what do I do?
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iva_squirrel

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Post by iva_squirrel » Fri Jan 19, 2007 11:34 am
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Hello,


I suggest you have a look at the Citizens Advice Scotland we b site and contact them for advice;

http://www.cas.org.uk/

A Scottish Trust Deed could be the solution for you which is a formal, legally binding agreement between an individual who is unable to pay his/her creditors and a licensed Insolvency Practitioner (the Trustee). The Trustee will put together a form of proposals to the Creditors for approval and administer the Trust Deed.

The advantages of a trust deed are that it can relieve the pressure from the creditors as all correspondence and queries are dealt with by the Trustee. It puts the debtor in control of their financial situation rather than the creditors.




Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net
Last edited by iva_squirrel on Fri Jan 19, 2007 11:39 am, edited 1 time in total.
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Oliver

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Post by Oliver » Fri Jan 19, 2007 11:47 am
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It is very hard to give advice on such limited information. I would recommend that you contact 2-3 experts and discuss this further with them.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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