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Scotland’s payday loan debt is currently a massive £99 million. Glasgow is the 4th highest payday poverty hotspot with 99,485 loans taken out during 2018. These stats around payday loans highlight the need for more understanding of what is a payday loan. Wonga collapsed and Wage Day Advance followed in their footsteps this year. However, there is still an abundance of high-cost payday loan sharks enticing customers with brightly coloured websites and happy smiley faces on their TV adverts. The Financial Conduct Authority may have cracked down on some by introducing new rules on affordability, roll-overs and how they use...

Are you struggling with debt? Below is a list of common behaviours or scenarios that you may be experiencing if you are in debt. If any of these ring true for you, it’s time to seek help getting out of debt. Debt is no stranger. You may have been here before and may well be again. Your income has changed. You may have lost benefits, a job or a partner or had a baby. Your mind always seems elsewhere. You don’t answer your phone if the caller is unknown and are distracted after a missed call. A conversation around finances,...

We understand that taking the first step to dealing with your debt may feel like the hardest. However, we also know that when you take the first step of talking to a professional debt advisor, you will soon realise the options available to you. At Don’t Fret About Debt, we’re FCA regulated and offer all statutory debt solutions in Scotland so you can be assured that we will work with you to find a solution that is right for you and your circumstances. To encourage you to take a potential life-changing first step, we have outlined below what to expect...

Following the Bank of England’s warning that consumer borrowing over the last year has been soaring, and lenders face action for irresponsible lending, there is a growing risk of a tsunami of consumer indebtedness once again sweeping across the UK.  Unsustainable debt causes major problems and misery for individuals and their families, and is a costly burden to society. Everyone is better off if bankruptcy can be avoided.  We consider an effective debt management solution – the Debt Arrangement Scheme (DAS) – that could provide help to many more people looking to find a way out of their debt problems....

When it comes to tackling debt, the first step can be the most difficult. After you decide once and for all that it’s time to pay off debt, what do you do next? Seeking advice is the best course of action in any debt situation. At Don’t Fret About Debt we provide confidential, expert advice on the best way to proceed in paying off debts. This article should give you a head start in understanding your debt. There are so many different types of debt and each has its own associated jargon – creditors can make it difficult to understand...

When your debts reach an unmanageable level it’s natural to seek help to deal with them however it’s surprising how many people put off dealing with their debts through an official channel, for fear of what impact it will have on their credit report. Surely getting out of debt and not having to struggle pay packet to pay packet and regaining a reasonable standard of living is more important than keeping that gold plated credit file? It appears not. Sometimes however, you’re doing just as much damage to your credit file and people are surprised when they have a low...