Make an Enquiry Here      Check Mortgage Rates Here      Shared Ownership Calculator  This is a formal agreement that Scottish people can use with a creditor of theirs which lasts for a 4 year period (longer periods can be considered). It is a legal agreement which is done through a licensed Insolvency Practitioner (IP) who can act as a trustee, It  reduces unaffordable  payments to one single monthly payment that is considered more affordable for the person in debt. After the time period is up the rest of the debt left (if there is any) is then written off, it offers protection against creditors taking you to court, simplifies and eases the payments. The IP also sits down with you and analyzes your financial situation so that they can create a realistic payment plan that you could actually manage and this is what he recommends you pay to the creditor. Make an Enquiry Here