The Scottish Parliament’s Economy, Energy and Fair Work’s Committee’s latest recommendations are that Scotland does not adopt the Standard Financial Statement in 2019/20 as the Common Financial Tool and instead continues with the Common Financial Statement for another year. The Common Financial Tool is the mechanism with which it is decided how much Scottish consumers […]
Time Orders are legal remedies provided for by the Consumer Credit (Act) 1974, that allowed consumers allow a court to give them more time when they have went into arrears or defaulted on a consumer credit agreement.
The Debt Arrangement Scheme is changing, with new amendments due to be introduced from the 29th October 2018.
John McGleish v Graham Cameron Tough and Maureen Leslie This case, decided by the Sheriff Appeals Court considered an obscure area of bankruptcy law, which has not seen much discussion, nor had much judicial consideration since its introduction in the Bankruptcy (Scotland) Act 1913. The provision, now contained in section 78 (9) and (10) of […]
My submission to the Economy, Jobs and Fair Work Committee on the Common Financial Tool Regulations.
The Prescription (Scotland) Bill 2018 should be welcomed, but the Scottish Parliament needs to ensure all obligations to pay debts arising from personal contracts and statute should be covered by short term negative prescription, with few exceptions. Scotland’s law of prescription governs when an obligation to pay a debt is extinguished and no longer owed. […]
THERE have been calls of late for the Scottish Government to reintroduce warrant sale-style procedures; these seem now to have found a sympathetic ear. The Accountant in Bankruptcy (AIB), a Scottish Government agency that advises ministers on matters relating to debt law, has said it is prepared to consider how the replacement procedure that was […]
The Credit Services Association (CSA), a trade body that represents debt recovery and purchase organisations, has raised its concerns that new guidelines for the Standard Financial Statement (SFS) may exacerbate the position many consumers find themselves in when struggling with problem debts. The Standard Financial Statement, which the Accountant in Bankruptcy (AIB) have recommended be […]
Originally published in the Herald, as an Agenda piece, I make the argument that Scottish debt policy is broken, was explored. Despite personal debt levels in the UK now having returned to pre-credit crunch levels, new figures released by the Improvement Service, reveal that free, local authority-funded debt advice services have now seen their funding […]
New proposals by the Scottish Government to introduce changes to the Debt Arrangement Scheme (DAS) are to be welcomed (See Debt Arrangement Scheme: The Way Forward). However, the question is, do they go far enough to save the Scheme, which saw a 49% reduction in take up following the introduction of changes in 2014-15 and […]