Accountants launch debt advice
INDEPENDENT accountancy firm French Duncan has launched FD Debt Solutions, a new concept in consumer debt advisory established to promote a professional personal insolvency advisory service to clients across Scotland.
In Scotland last year, more than 20,000 people entered into some form of personal insolvency and a further 30,000 entered into a Debt Arrangement Scheme where the repayment of debts c an be re-scheduled. With the majority of these a result of over-spending on credit cards and personal loans, FD Debt Solutions now offers a user-friendly way to advise Scots on their options out of debt.
“Usually, the credit card debt was racked up to pay the weekly food, heating or housing bills,” said Eileen Blackburn at FD Debt Solutions. “Just overspending slightly means debt can soon mount up and can lead to the temptation of pay day loans. The good news is that there are options available. Sequestration and Protected Trust Deeds allow individuals to write off some of their debts, while the Debt Arrangement Scheme allows the debts to be re-scheduled over a longer period of time. These options provide relief from the red letters and phone calls from which most debtors have suffered. They are serious steps though, so always seek advice at the outset from a professional.”
Eileen Blackburn is offering options for debt