• Trusted & Approved Debt Help
  • Freeze Interest & Charges
  • Lower Monthly Payments
  • Write Off Debt

Personal Insolvency Options

There are three main options available in Scotland for individuals and sole traders who are struggling under the weight of unmanageable debt. These are: a Trust Deed, the Debt Arrangement Scheme, and Sequestration.

While each have their own advantages and disadvantages, it is likely that one of these options will offer a way out of your current financial difficulties if you have got to the stage where you are unable to continue serving your debts as you are.

  • Trust Deed – Trust Deeds are only available in Scotland and function in a similar way to an Individual Voluntary Arrangement (IVA). Trust deeds typically last for four years, during which time you will make a monthly repayment to your Trustee who will divide this money amongst your creditors. As long as you keep up with your agreed repayments, any debt which remains after the four years will be written off.
  • Debt Arrangement Scheme (DAS) – A DAS is a government-backed scheme which gives an individual time and breathing space to pay back their debts. Unlike a trust deed, no debt is written off as part of the process, however, a DAS can be set up to last as long as it takes for the individual to clear their debts. A DAS is not classed as a formal insolvency process which can make it a suitable process for those who need help managing their debts but do not want to declare themselves insolvent.
  • Sequestration – Sequestration is the Scottish term for bankruptcy and is the arguably the most serious personal insolvency solution. An individual can enter sequestration voluntarily or they can be forcibly sequestrated by a creditor who has exhausted all attempts to recover the money they are owed. As part of the sequestration process, all assets of the individual will pass to the appointed Trustee who will use these to pay back creditors as far as possible. After discharge from sequestration, all unsecured debts which remain unpaid will be written off. Depending on your income and disposable funds, you may be asked to make a monthly contribution towards your sequestration.

In order to enter into one of these processes, you must first take advice from an approved money adviser who will carefully assess your current position and identify the most appropriate solution for you. Scotland Liquidators have a team of licensed insolvency practitioners and approved money advisers who are here to help you every step of the way when it comes to solving your debt worries.


Sequestration – the Scottish term for bankruptcy – writes off your unsecured debts allowing you to draw a line under your unmanageable borrowing.

Trust Deed

A Trust Deed allows you to consolidate your debts into one affordable monthly repayment over a set period of time. Any debt remaining after this point will be written off.


A Debt Arrangement Scheme gives time and breathing space to pay back the amount you owe in an affordable and manageable way without having to declare insolvency.

Do you Qualify? – Trusted & Approved Debt Help

Our expert personal insolvency team are on hand to help you and provide the best options

Personal Debt Advice for Residents of Scotland

If you’re struggling with credit card debts, sheriff officers, council tax, payday loans, mortgage arrears, employment issues, store cards or any kind of finance or lending, we are here to help. You can make an appointment at any one of our 5 offices across Scotland, or we can even come to see you at your home or other preferred location to discuss your current circumstances in a confidential manner and establish how to get you out of debt.

We can talk you through solutions such as Trust Deeds, Debt Arrangement Schemes and Sequestration (bankruptcy) and dispel some of the myths and stigmas surrounding these common debt management plans. We can work out which solution best suits your needs and answer any questions you may have, such as queries about whether your home is secure or how your credit rating will be affected.

For immediate and effective assistance with debt and how to put plans into place for a better future, contact Scotland Debt Solutions today. From our offices in GlasgowEdinburghDundeeInverness and Aberdeen, we provide coverage across Scotland from Gretna up to the Highlands.

Suggested Pages:

Why Choose Us?

  • Fully Regulated Advisors
    From a Reputable Firm

  • Trusted & Approved Debt Help
    Expert Debt Advice In Scotland

  • Lower Monthly Payments
    Freeze Interest & Charges

  • Helping Scots Get
    Out of Debt Since 1989

  • Speak Direct With
    A Qualified Adviser

  • 5 Offices in Scotland
    National Coverage

Debt Help and Advice in Scotland – Get Expert Advice Today

Members’ Voluntary Liquidation, usually referred to as an MVL, is the most tax-efficient way of shutting down a solvent company. Liquidation of this nature shouldn’t be confused with company strike-off which is another way in which companies can choose to close but this only applies in certain circumstances. If your company has assets or has a complex, intricate structure with a number of directors or subsidiaries, an MVL will certainly be the best course of action for winding up a solvent business.

Our advisers can discuss this with you in more detail as we are doing with numerous directors at present; particularly since the Government announcement the changes to Entrepreneurs’ Rate Relief which has seen an influx in Members’ Voluntary Liquidations.

Supporting 25,000+ Limited Company Directors

I knew I needed to close my company but I wasn’t sure how to go about this with large debts that I was unable to repay. Scotland Liquidators clearly explained my options and held my hand throughout the entire process.

Catherine Muller | Director

I would highly recommend Scotland Liquidators to anyone considering closing their business. From the first phone call I knew where I stood and what my options were. I cannot thank them enough.

Jonathan Booth | Director

Scotland Liquidators helped me close my company last year after I made the tough decision to stop trading. My advisor was patient, knowledgeable, and supportive from start to finish. Many thanks.

Colin Franklin | Former CEO

Trusted by over 1500+ Scots

Contact the Scotland Liquidators Team

There are several options when it comes to closing a limited company and it is vitally important you choose the one which is right for you, your company, and your creditors. Whether you are struggling with rising costs, falling trade, or impatient creditors, we are here to help.

  • Experts in Scottish Insolvency
  • 100% Confidential Advice
  • 5 Offices across Scotland
  • Licensed Insolvency Practitioners

Looking for immediate support?

Complete the form below to get in touch