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70% of Oil and Gas Workers within the Dark on Debt Solutions, According to Survey.
A latest survey performed by Oil and Gas People in affiliation with KPMG has revealed that 70% of oil and gasoline staff are unaware of formal debt options.
The similar survey revealed that many business staff are apprehensive about debt, with over 60% expressing issues about their means to pay their mortgage.
In Scotland, there are a number of choices accessible to these battling their funds.
The Debt Arrangement Scheme is designed for individuals who are in a position to repay their unsecured money owed in full, however want the time and respiration house to permit them to do that.
Recent enhancements in oil worth look optimistic for the sector, and should drive a rise in exercise and employment alternative, but the timings related to this are nonetheless unsure.
Securing this ‘respiration house’ now in anticipation of improved market situations could also be precisely what many Oil and Gas staff want.
Under the Debt Arrangement Scheme, people are protected in opposition to creditor motion. The curiosity on debt is frozen, and there’s no requirement to promote houses or different belongings.
Protected Trust Deeds are another choice taken by hundreds of Scots every year. This possibility is useful for individuals who can not realistically pay again their unsecured money owed inside a four 12 months interval.
After profitable completion of a Trust Deed, the remaining debt is written off.
With over 20 years of expertise, and devoted consultants in places all through Scotland, KPMG has already helped over 20,000 individuals turn into debt free.
If you’re battling debt repayments, KPMG can offer you free, confidential recommendation.
Simply click on right here and get in touch with KPMG for extra data.