Newer version available

There is a newer version of this publication available:
Debt Advice Handbook Scotland 1st ed - with new material

2. The Common Financial Tool

• What is the Common Financial Tool
• Common Financial Tool for sequestration applications
• Household composition
• Adult non-dependants
• Dependent children
• Income
• Income sources from which a contribution can be taken
• Income from which a contribution cannot be taken
• Assessed contribution
• Assets general
• Heritable property (the client's home)
• Vehicles
• Insurance policies
• Expenditure
• Essential expenditure
• Trigger figure categories
• Contingency provision

The Common Financial Tool (CFT) must be used when making an application for the Debt Arrangement Scheme (DAS – see here), Minimal Asset Process (MAP – see here), Full Administration Bankruptcy (FAB – see here) and protected trust deeds (PTD – see here).