PRLog - May 3, 2012 - (United Kingdom – 3rd May 2012) As is being reported on the ever growing blog at Scottish Trust Deeds UK Scottish Trust Deeds UK, more Scots than ever are turning to family members for help with financial problems.
With the economic outlook looking increasingly gloomy, more and more individuals are being frozen out by high street lenders; this is according to research published following a wave of personal bankruptcies north of the Border.
With these developments, it may be becoming more and more prudent to take advantage of one of the trust deeds trust deeds or debt arrangements schemes that are being championed at http://www.scottishtrustdeedsuk.co.uk.
Almost one in three people on Scotland would borrow money from parents, grandparents and other family members to tide them over – but with the aforementioned legislature offering to clear debt in as little as 36 months – this may not be necessary.
Another interesting fact that came from this recent research is that Scottish peopl are less likely than people elsewhere in the UK to turn to their bank. Just a quarter of those that reside north of the Scottish border are likely to ask for a loan or overdraft increase – this is dramatically down from the 33% UK average.
But while going to family members first is often better than borrowing from official sources, many are forced to do so because they can no longer secure finance from mainstream lenders. A trust deed or Scottish Trust Deed as they are becoming affectionately known may be a happy compromise for those that find themselves in financial strife.
To find out more about any of the policies explained, just click this link for more information.