IVA FAQs › Debt help in Scotland
ScotlandIVAs do not apply in Scotland. Scotland has its own debt solutions instead, mainly Protected Trust Deeds and the Debt Arrangement Scheme, with sequestration as the Scottish form of bankruptcy.
No. Individual Voluntary Arrangements are a solution for England, Wales and Northern Ireland only. Scotland has a separate insolvency system with its own equivalents, overseen by the Accountant in Bankruptcy (AiB). The good news is that the Scottish options achieve similar things, they are simply called something different and have their own rules.
A Protected Trust Deed is the closest equivalent to an IVA. You agree to pay what you can afford to a trustee for a set period, usually four years, after which the remaining debt covered by the deed is written off. It is a formal, binding arrangement, much like an IVA. See our Protected Trust Deed guide for detail.
The Debt Arrangement Scheme is a government-run scheme that lets you repay your debts in full over an extended period through a Debt Payment Programme, with interest and charges frozen and protection from creditor action. It is closer to a formal debt management plan than to insolvency, because you repay everything you owe. Our DAS guide explains how it works.
Sequestration is the Scottish term for bankruptcy. It writes off most debts and is administered by the Accountant in Bankruptcy. As with bankruptcy elsewhere, it has serious consequences for your assets and credit, and should be considered only with proper advice.
For free, impartial advice in Scotland, contact:
You never have to pay anyone to find out where you stand. These services are free, independent and will go through every option with you.