Bank finance articles and tips

A Scottish trust deed normally runs for a period of three years; in the rest of the UK the broadly-equivalent IVA debt solution normally runs for five years. Sequestration in Scotland requires a £100 application fee; in the rest of the UK you'll need to find £700 to become bankrupt. The new Certificate for Sequestration in Scotland has unblocked the route to sequestration for many people that were previously trapped in debt. The Debt Arrangement Scheme in Scotland guarantees the freezing of interest and prevents legal debt recovery action against the debtor or their home; a debt management plan elsewhere in the UK provides none of these benefits. The politicians of Scotland appear to have designed and maintained a framework of debt remedies for Scottish residents that compares extremely well to the framework in the rest of the UK.

The trend of purchasing a car under a novated lease arrangement is rapidly increasingly across Australia. A novated lease is an agreement between an employee, his or her employer and a car finance company. This type of agreement is generally beneficial to all the related parties.

So, how does a novated lease work? Simply put, a novated lease allows a company to provide an employee with a vehicle which incorporates the lease repayments as part of the employee's total remuneration package. In doing so, the company can satisfy their tool of trade fleet requirements as well as providing greater flexibility and incentives for their employees....