Debt Advice Articles
LILA isn't a type of bankruptcy; it's a route into bankruptcy for those who can't enter it the 'traditional' way.
Claiming back PPI could help you repay more of what you owe if you're on a Trust Deed. Read more here.
If you have joint debts that you can't afford, you could both enter into a Trust Deed. Although joint Trust Deeds don't exist, both your Trust Deeds will take your joint debts into account.
Personal insolvencies in Scotland have declined on both a quarterly and yearly basis. However, more people applied for the Debt Arrangement Scheme (DAS).
If you're struggling with your debts, LILA or DAS might be the best way for you to get back in control of your finances. Could one of them help you?
A Trust Deed could write off some of your unmanageable debt.