Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

By Dick
#22764 Looking for any help re above

Currently have a large amount of credit card debt and a personal loan (unsecured)

Have been advised by CCCS to go for a DMP plan but have since heard about PTD which seems a better option

Can anyone advise on how it works, how it is set up or if anyone has experienced going through this procedure and what the outcome was

Mortgage is in 3 names and there is equity in the house but obviously I would only be in for one third

It just seems that 3 years on a PTD compared to 20 odd years on a DMP plan seems a better option

Help ?
#22902 I would suggest contacting a Money Advisor in your area through the Money Advice Scotland site.

If you can get someone to buy out the equity in your home-it may be a better option for you but please go through this with a face to face advisor first.

CCCS are wonderful- but they concentrate a lot on DMP's without going through all options and arent so hot on our Debt Advice laws up here.