Author Archives: John Lindsay

Lockdown Debts – Solutions Scotland

Lockdown Debts

Without further EFFICIENT government help, a huge number of people will be pushed into long-term debt as a direct result of coronavirus whether it be loss of employment, fewer hours or no job opportunities. Ironically millions of the population of have selflessly helped the country during the pandemic now potentially face years of financial hardship dealing with lockdown debts. People are being forced to choose between paying household bills or paying creditors like credit cards and loans.

Lockdown Debts In Numbers

Citizens Advice Bureau estimate that 6 million UK adults have fallen behind on at least one of the household bills during the pandemic, including:

  • 3.4 million on their mobile phone or broadband bills
  • 3 million on their water bills
  • 2.8 million on their energy bills
  • 2.8 million on their council tax
  • 1.2 million on their rent

3.9 million people have also fallen behind on either their credit card or overdraft repayments. Essentially forcing households to choose between priority bills like rent, energy and food bills OR creditors for debts like credit cards and loans. A horrible, horrible decision to have to make given the current circumstances we are living in at the moment, already mentally trying circumstances with lockdown without the added pressure in regards to deciding if you pay this months rent? Or do you pay this months loan repayment? However, it does not have to be that way.

Certain Groups have suffered more than others to lockdown debts.

People who are more likely to have been directly affected by coronavirus, have played a key role in the response or to have already been in a precarious financial situation beforehand are far more likely to have fallen behind on their bills.

1 in 5 key workers have fallen behind on their bills, compared to fewer than 1 in 10 people who are not key workers. With Caring responsibilities, 1 in 4 people have fallen behind on their bills.

Debts attacked everyone, regardless of our job title, employment status, marital status or ethnicity, We are all part of a bigger statistic. But again it does not have to be that way. Speak to us at Solutions Scotland…..

Solutions Scotland Lockdown Debt Help

Who are we at Solutions Scotland? and what debt solutions do we have?

Solutions Scotland, we give you the very help you need. Can also stop action from Sheriff Officers. We can also prevent wage arrestments, have options that freeze interest and charges on credit cards to enable to to pay back what you owe only.

STOP CHOOSING BETWEEN HOUSEHOLD BILLS OR PAYING DEBTS. YOU SHOULDN’T HAVE THAT DECISION TO MAKE.

Protected Trust Deed will see you become debt free in 48 months. You will also write off up to 75% away from your debts. You will make Affordable monthly repayments. Creditors and Sheriff Officers will no longer be able to contact you.

If a Protected Trust Deed isn’t for you don’t worry Solutions Scotland also offer Solutions such as:

Debt Arrangement Scheme (DAS)

Sequestration

MAP (Minimal Asset Process)

TO APPLY FOR ANY OF THE ABOVE SOLUTIONS CONTACT SOLUTIONS SCOTLAND ON

0141 739 8180

OR

EMAIL: enquiries@solutionsscotland.co.uk

Credit Card Reality Bites – Solutions Scotland

Credit Card Reality

Credit Card Reality – For a brief period there was relief for everyone dealing with the stress of credit card repayments. A pause in reality with ongoing high interest repayments no matter what type of debt you have. Requesting breaks short or long, even requesting another loan was heavily backed by the government. There was no fear, there was no knock on the doors nor was there a bombardment of phone calls for missed payments.

Post Covid

I use the term loosely. We all know Covid is going to be here for quite some time before a cure becomes available, however the creditors view is that we are now past the period of payment breaks, because from their point of view, they cannot wait until there is a cure, their time is now, they now want the favour returned. For their patience for a few months, they expect extreme loyalty back albeit as we know, unrealistic.

Credit Card Reality Bites

A total of £8.7b was spent in the first month of lockdown, half the level of April last year, reported by UK Finance. With many shops closed in April, a proportion of card spending that was completed online hit a record level. Rather than credit card spending being on holidays and household appliances, the majority were paying back card payments hoping to bring down interest rate payments for the tough months ahead. However we all know no matter what the interest is on that credit card, you are paying back more than you have spent, you are in their pocket and it is you who they will be using to fund their own difficult months ahead. While the average family will be preying they don’t become a casualty of the unemployment numbers, credit card providers will still expect customers to pay interest every month regardless if the spending on the credit card has stopped, they will still demand your money.

Credit Card reality

Solutions Scotland Credit Card Help

Who are Solutions Scotland? and what debt solutions do they have?

Solutions Scotland is the company that you will need if you are in debt. They can stop action from Sheriff Officers. They can also prevent wage arrestments, have options that freeze interest and charges on credit cards to enable to to pay back what you owe only.

Protected Trust Deed will see you become debt free in 48 months. You will also write off up to 75% away from your debts. You will make Affordable monthly repayments. Creditors and Sheriff Officers will no longer be able to contact you.

If a Protected Trust Deed isn’t for you don’t worry Solutions Scotland also offer Solutions such as:

Debt Arrangement Scheme (DAS)

Sequestration

MAP (Minimal Asset Process)

TO APPLY FOR ANY OF THE ABOVE SOLUTIONS CONTACT SOLUTIONS SCOTLAND ON

0141 739 8180

OR

EMAIL: enquiries@solutionsscotland.co.uk