Ross Walker of EuroDebt

We spoke to Ross Walker, Debt Solutions Advisor at EuroDebt about the Scottish debt management sector and how it compares to the rest of the UK...

Firstly, what exactly does your job involve?

My job involves meeting with clients with debt concerns and advising them of their options for dealing with it. I also promote our services to potential introducers.

You are based in Scotland, is there a particular area you specialise in?

I cover the whole of central Scotland and specialise in all the debt solutions available North of the border. 

What characteristics would mean that someone qualifies for help from your company?

For someone to qualify for help from our company they would have to have debts totalling more than £3000 and have some disposable income left over at the end of the month to make a contribution towards paying their debts. 

How straightforward is the procedure?

The procedure involves a no obligation initial meeting with myself, which is free, and then depending on what is the appropriate solution will dictate how we proceed, however we make it very easy for the client and take away the pressure. 

What is the most common reason for people getting into debt?

The most common reason for people getting into debt is a change in circumstances such as job loss, overtime stopping, or a cut in wages which makes their current debt commitments unmanageable. 

How does Scottish debt management differ from the rest of the UK?

Scotland differs from the rest of the UK in that we have different solutions available such as Trust Deeds and the Debt Arrangement Scheme.

How can people minimise their monthly costs?

People can minimise their costs by shopping around for good deals on utilities/mortgages/insurances through companies like MoneySave. 

With so many people in debt do you think more needs to be done to encourage people to take a better approach to managing their finances?

I believe that people should be provided with better information on the subject of managing finances as it clear that many individuals are unaware of the importance of trying to "balance the books". 

Do you think more people are facing up to their financial problems?

I think more people are facing up to their financial problems, however I believe there are a huge amount that are still doing nothing and just  hoping things will improve. 

Do you expect the financial situation to improve in the coming months?

I do not expect the financial situation to improve over the coming months, I imagine that it is going to get worse as all the cutbacks on spending start to take effect.