Debtors (Scotland) Act 1987

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If any sum payable under a time to pay direction under section 1(1)(b) of this Act remains unpaid 24 hours after the end of the period specified in the direction, the direction shall cease to have effect. B e it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:— I EXTENSION OF TIME TO PAY DEBTS

but, while the direction is in effect, it shall not be competent to commence an action of furthcoming or sale following on such an arrestment. If, on the day on which an instalment payable under a time to pay direction becomes due, there remains unpaid a sum, due under previous instalments, of not less than the aggregate of 2 instalments, the direction shall cease to have effect.The clerk of court or sheriff clerk shall as soon as is reasonably practicable intimate a variation under subsection (1) above to the debtor and to the creditor, and the variation shall come into effect on the date of such intimation. Amended by Property affected by inhibition on dependence: Where the court grants warrant for diligence by inhibition on the dependence— If at the end of the period of 3 weeks immediately following the day on which the last instalment payable under a time to pay direction becomes due, any part of the debt concerned remains outstanding, the direction shall cease to have effect.

Without prejudice to section 2(5) of this Act, interest payable under a decree containing a time to pay direction (other than interest awarded as a specific sum in the decree) shall not be recoverable by the creditor except in accordance with subsection (7) below. a) where the sum of money (exclusive of any interest and expenses) decerned for exceeds 10,000 or such amount as may be prescribed in regulations made by the Lord Advocate; A creditor who wishes to recover interest to which subsection (6) above applies shall serve a notice on the debtor, not later than the date prescribed by Act of Sederunt occurring— Interpretation of Part II.: In this Part of this Act—“dwellinghouse” includes a caravan, a houseboat and any structure adapted for use as a residence;“the poinding schedule” means the schedule provided for in section 20(5) of this Act;“the report of sale” means the report provided for in section 39(1) of this Act;“the sum recoverable” means the total of—

Changes over time for: Section 73F

a) by such instalments, commencing at such time after the date of intimation by the creditor to the debtor of an extract of the decree containing the direction, payable at such intervals; or b) if an arrestment in respect of the debt concerned is in effect, recall or restrict the arrestment. Any sum paid by a debtor under a time to pay direction shall not be ascribed to interest claimed in pursuance of subsections (6) and (7) above until the debt concerned (other than such interest) has been discharged. Section cited in: 5 cases, 11 Laws or Regulations Amended by