Aberdeen - Debt Advice Service
Debt counselling service in Aberdeen
Please note that The UK Insolvency Helpline Debt Advice Service is a national organisation covering the entire UK. Please note that the service operates from offices in London and a national telephone advice centre in the north of England. The service does not operate a physical office or a seperate team in each of the city and regions listed on this page.
Aberdeen is governed by Scottish insolvency laws. Aberdeen is Scotland's third most populous city and one of Scotland's 32 local government council areas. Aberdeen was home to fishing, textile mills, shipbuilding and paper making. These industries have been largely replaced. High technology developments in the electronics design and development industry, research in agriculture and fishing and the oil industry, which has been largely responsible for Aberdeen's economic boom in the last three decades, are now major parts of Aberdeen's economy.
Increase in debt advice in Aberdeen
According to the regional advice team at The UK Insolvency Helpline the number of people getting into severe debt in Aberdeen has risen dramatically by over 50% in the past 12 months.
Bankruptcy in Scotland - Sequestration
In Scotland bankruptcy is sometimes called Sequestration and has the same effect of completely cancelling all debts allowing a fresh financial to someone in debt.
The credit crunch is really starting to have a major impact on an increasing number of residents of Aberdeen. Many people that call the service are in debt due to a drop in income and overreliance on credit and store cards.
According to the social policy team, the main reason for the surge in Aberdeen debt enquiries the ease in which credit could be obtain and individuals extending themselves beyond the possibility of repayment.
Alternatives to Bankruptcy in Aberdeen
Bankruptcy is a last resort for debt relief and there may be other options available. It is advisable to seek independent financial advice from The UK Insolvency Helpline on 0800 074 6918. One of our money advisers will be able to provide confidential and non-judgemental advice on all options.
Some of the other options available may include:
- Debt Management Programme (DMP)
This is an informal arrangement between people with debt problems to pay the debts over an extended period of time. Creditors often agree to freeze interest or charges in return for their money being paid back. The success of a DMP is down to the person keeping up with the repayments. Debt Management Plans are perfect of people who have a regular income but just need a bit more time to pay and reduced monthly payments. To apply for a Debt Management Plan click here.
- Protected Trust Deeds
A protected trust deed is a voluntary agreement between a debtor and their creditors (the people they owe money to) to repay part of what they owe. A trust deed transfers the debtor’s rights to the things that they own to a trustee who will sell them to pay creditors part of what is owed to them. A trust deed will normally include a contribution from income for a specified period; this is usually 36 months but can vary.A protected trust deed is a special kind of trust deed that is binding on all creditors. Provided the debtor complies with the terms of their protected trust deed, the creditors can take no further action to pursue the debt or to make the debtor bankrupt.
Read more about Protected Trust Deeds by clicking here
Do you live in Aberdeen, Scotland – Can you go bankrupt?
If you have decided that you want to make yourself bankrupt you must meet the following conditions:
- You must owe a total debt of £1,500 or more; and
- You must be living in Scotland or have lived in Scotland sometime during the last year; and
- You must not have been made bankrupt in the last 5 years; and
- You must pay the application fee of £100; and
- You cannot pay your debts as they fall due
- You have low income and low assets such as earning less than £229.20 a week and have a net worth of less than £10,000
Debt advice and budgeting tips for people in Aberdeen
The UK Insolvency Helpline is urging consumers not to forgo their mortgage payments in preference for other expenses. If you do find yourself in difficulties then seek advice as soon as possible.
Districts of the City of Aberdeen covered for debt help
Altens, Ashgrove, Balnagask, Bankhead, Benthoul, Berryden, Bieldside, Blacktop, Bridge of Don, Broomhill, Bucksburn, Charlestown, Clinterty, Cloverhill, Contlaw, Cornhill, Cove Bay, Craibstone, Craigiebuckler, Craigton, Cults, Cummings Park, Danestone, Denmore Park, Denmore, Dyce, Fairley, Fernielea, Ferryhill, Footdee, Garthdee, Gilcomston, Hayton, Hazlehead, Heathryfold, Hilton, Holburn, Jesmond, Kaimhill, Kincorth, Kingsford, Kingswells, Kittybrewster, Langstane, Loirston, Mannofield, Mastrick, Middlefield, Middleton Park, Midstocket, Milltimber, Mundurno, Newhills, Nigg, North Tarbothill, Northfield, Old Aberdeen, Oldmachar, Overton, Peterculter, Rosemount, Rubislaw, Ruthrieston, Seaton, Sheddocksley, Springhill, St. Machar, Stockethill, Summerhill, Sunnybank, Tillydrone, Torry, Tullos and Woodside.
If you are in debt and live in Aberdeen please call us on 0800 074 6918. To get the best advice please have the following details to hand:
- What is your total amount of debt in £ ?
- How many different lenders are involved?
- Do you have a property? If so, what is the value, and the mortgage?
- How much are you currently spending each month on paying off debts?
- How much can you really afford to pay towards debts each month?
If you are in debt and live in Aberdeen please call us on 0800 074 6918.
Disclaimer
Please note that in line with OFT debt management guidance, The UK Insolvency Helpline Debt Advice Service does not provide nor administer debt solutions itself. Instead the service will put you in touch with a licensed professional to arrange the debt solution. Please also note that unlike most licensed insolvency practitioners, the licensed insolvency practitioners that consumers are referred or forwarded by The UK Insolvency Helpline for an IVA (Individual Voluntary Arrangement) to do not charge any upfront fees. This fee structure means that the monthly payments consumers make into the IVA will cover the payments to the creditors as well as the licensed insolvency practitioner's fee for preparing, nominating and supervising the IVA. Finally, please note that where consumers are referred for debt management plans these services attract a fee.
Please note that The UK Insolvency Helpline Debt Advice Service is a national organisation covering the entire UK. Please note that the service operates from offices in London and a national telephone advice centre in the north of England. The service does not operate a physical office or a seperate team in each of the city and regions listed on this page.
This is a list of offical cities within the United Kingdom covered by The UK Insolvency Helpline.
- Aberdeen
- Armagh
- Bangor
- Bath
- Belfast
- Birmingham
- Bradford
- Brighton and Hove
- Bristol
- Cambridge
- Canterbury
- Cardiff
- Carlisle
- Chester
- Chichester
- City of London
- Coventry
- Derby
- Dundee
- Durham
- Edinburgh
- Ely
- Exeter
- Glasgow
- Gloucester
- Hereford
- Inverness
- Kingston upon Hull
- Lancaster
- Leeds
- Leicester
- Lichfield
- Lincoln
- Lisburn
- Liverpool
- London
- Londonderry
- Manchester
- Newcastle upon Tyne
- Newport
- Newry
- Norwich
- Nottingham
- Oxford
- Peterborough
- Plymouth
- Portsmouth
- Preston
- Ripon
- Salford
- Salisbury
- Sheffield
- Southampton
- St Albans
- St Davids
- Stirling
- Stoke-on-Trent
- Sunderland
- Swansea
- Truro
- Wakefield
- Wells
- Westminster
- Winchester
- Wolverhampton
- Worcester
- York
List of counties covered by The UK Insolvency Helpline
- Avon
- Bedfordshire
- Berkshire
- Borders
- Buckinghamshire
- Cambridgeshire
- Central
- Cheshire
- Cleveland
- Clwyd
- Cornwall
- County Antrim
- County Armagh
- County Down
- County Fermangh
- County Londonderry
- County Tyrone
- Cumbria
- Derbyshire
- Devon
- Dorset
- Dumfries and Galloway
- Durham
- Dyfed
- East Sussex
- Essex
- Fife
- Gloucestershire
- Grampian
- Greater Manchester
- Gwent
- Gwynedd County
- Hampshire
- Herefordshire
- Hertfordshire
- Highlands and Islands
- Humberside
- Isle of Wight
- Kent
- Lancashire
- Leicestershire
- Lincolnshire
- Lothian
- Merseyside
- Mid Glamorgan
- Norfolk
- North Yorkshire
- Northamptonshire
- Northumberland
- Nottinghamshire
- Oxfordshire
- Powys
- Rutland
- Shropshire
- Somerset
- South Glamorgan
- South Yorkshire
- Staffordshire
- Strathclyde
- Suffolk
- Surrey
- Tayside
- Tyne and Wear
- Warwickshire
- West Glamorgan
- West Midlands
- West Sussex
- West Yorkshire
- Wiltshire
- Worcestershire
