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Debt Advice

Occasionally people find it difficult to pay their debts or maintain a payment plan, usually they just need extra time or some helpful advice. Stirling Park is here to help, and we advise anyone in difficulty to talk to us as soon as possible.

What should I do?

When you receive any correspondence from Stirling Park, you should contact us as soon as possible, either by visiting our Customer Portal to make a payment online or propose a payment plan. Alternatively visit our Customer Support Centre within the Contact Us page for more options.

What if I am struggling to pay or deal with my debts?

Stirling Park appreciate that in the course of our work we often come into contact with customers who cannot pay at all, cannot maintain their payment arrangement or struggle to deal with debts for various reasons.

We are here to help. Please complete and submit a Financial Declaration to advise us of your current situation. One of our collections specialists will review your case and respond to you accordingly.

The following organisations all offer free independent advice:

Money Advice Scotland
0141 572 0237

Citizens Advice Scotland
0845 450 0351

Stepchange Debt Charity
0800 138 111

National Debtline
0808 808 4000

You can also get free debt advice from agencies in your local area, click here for details.

Solicitors or financial advisors also offer debt advice however they may charge a fee for these services.

A booklet entitled “Debt and the Consequences” is available from The Accountant in Bankruptcy

There are many ways to deal with debt and it is important to get advice as soon as possible.

You can get free and confidential advice from a trained money adviser. For example through Local Authority money advice units or the Citizens Advice Bureau.

Many creditors are aware of the Money Advice Liaison Group’s Mental Health Guidelines. Anyone with mental health issues who owes money should speak to a money advisor.

A money adviser can help you decide how to deal with your debts, how to maximise your income, and how to deal with emergencies, for example, if your bank account is frozen, your wages are  arrested or your gas / electricity is cut off.

You may be able to make some payments to your creditors. A money adviser can help you decide how to do this best.

Your creditors may take you to court to try and get their money back, a money adviser may also be able to help with court representation.

Council Tax reduction is available if you are liable to pay Council Tax and your income and savings are below a certain level. Up to 100% reduction of the Council Tax charge may be available however there is no reduction to water and sewerage charges, which are included in your Council Tax Bill.

See below to find details of how to find out more from your Local Authority.

For free debt advice from agencies in your local area, click here for details.

If you ignore your debts your creditor can take enforcement action. There are several ways they can do this including:

Arrestment: This means that money or goods held by a third party are “frozen”. The most common example is arrestment of funds in your bank account. The third party (e.g. bank) may then be required to hand the property (e.g. funds) over to a creditor.

Earnings Arrestment: If you are working, the money you owe to a creditor can be taken from your salary directly. Your employer will deduct a percentage of your net salary (after tax and deductions) every pay day and pay this money to your creditor until the balance is paid in full.

Attachment: This means that goods held by you e.g. a car are “frozen”. Anything that has been attached (frozen) can be sold at auction with the money from this then being paid to the creditor.

Inhibition: Inhibition allows the person you owe money to (creditor) to prevent you from selling, transferring or re-mortgaging your house or land unless you pay your debt to them. It does not allow your creditor to sell your property but remains in effect for up to 5 years.

Bankruptcy: Sometimes called sequestration, may have serious consequences for you and will affect your credit rating for several years making it difficult for you to access credit or bank accounts in the future. Bankruptcy can also lead to the loss of our home, savings, assurance policies and other articles of value, as well as creating difficulties for some forms of employment.