The headline change is expected to be the extension of the standard term of a protected trust deed, or a payment agreement or order in sequestration, to four years.
Currently the standard repayment term is three years, though there are cases where this is extended for protected trust deeds.
Supporters of this change argue that it will create a greater disincentive to get into debt and that a longer term of repayments will magnify the return that creditors receive on the money owed to them.
Critics see no reason to amend the current system for duration which was not significantly criticised by any of the major interest groups during the consultation.
In reality trust deeds might have to run for significantly longer than four years.
The Scottish Government has expressed an intention to impose a minimum dividend for creditors that a trust deed must deliver.
They have suggested a figure of between 30p and 50p.
To meet this dividend level many Scottish trust deeds will have to be extended to terms that are significantly longer than four years.
For example, a debtor that owes £25,000 and who has a disposable income of £200 per month might take five years to reach a 30p dividend or seven years to get to 50p.
This is based upon an illustrative figure of £4,000 for the costs associated with running the arrangement.
It's believed that the intention is to direct greater numbers of people towards the Debt Arrangement Scheme (DAS).
DAS assists an individual to fully repay their debts, protect their assets, and avoid personal insolvency.
However, many observers believe that rather than using Debt Arrangement Schemes those that might currently prefer to use a trust deed will turn instead to a four year repayment term in bankruptcy.
Another area of concern is the potential introduction of exclusions for debts incurred in the three months prior to signing a Scottish trust deed or becoming bankrupt.
Individuals that have been using credit to manage their day-to-day needs might find that certain debts aren't discharged in insolvency.
Alternatively they may have to wait several weeks before they can take personal insolvency action that will include all of their debts.
ICAS, a body which represents insolvency practitioners in Scotland, has expressed serious reservations about the plans for this Bankruptcy Bill.
A recent press release questioned whether aspects of the current plan breach human rights law.
They have also questioned why the informed opinion of many debt professionals that contributed to the consultation exercise appears to have almost entirely ignored.
It would appear that argument and negotiation is likely to continue for some time on these issues.
As it currently stands, the set of proposals appear to be very bad news for Scottish individuals and families that get into financial trouble in the future.
Currently the standard repayment term is three years, though there are cases where this is extended for protected trust deeds.
Supporters of this change argue that it will create a greater disincentive to get into debt and that a longer term of repayments will magnify the return that creditors receive on the money owed to them.
Critics see no reason to amend the current system for duration which was not significantly criticised by any of the major interest groups during the consultation.
In reality trust deeds might have to run for significantly longer than four years.
The Scottish Government has expressed an intention to impose a minimum dividend for creditors that a trust deed must deliver.
They have suggested a figure of between 30p and 50p.
To meet this dividend level many Scottish trust deeds will have to be extended to terms that are significantly longer than four years.
For example, a debtor that owes £25,000 and who has a disposable income of £200 per month might take five years to reach a 30p dividend or seven years to get to 50p.
This is based upon an illustrative figure of £4,000 for the costs associated with running the arrangement.
It's believed that the intention is to direct greater numbers of people towards the Debt Arrangement Scheme (DAS).
DAS assists an individual to fully repay their debts, protect their assets, and avoid personal insolvency.
However, many observers believe that rather than using Debt Arrangement Schemes those that might currently prefer to use a trust deed will turn instead to a four year repayment term in bankruptcy.
Another area of concern is the potential introduction of exclusions for debts incurred in the three months prior to signing a Scottish trust deed or becoming bankrupt.
Individuals that have been using credit to manage their day-to-day needs might find that certain debts aren't discharged in insolvency.
Alternatively they may have to wait several weeks before they can take personal insolvency action that will include all of their debts.
ICAS, a body which represents insolvency practitioners in Scotland, has expressed serious reservations about the plans for this Bankruptcy Bill.
A recent press release questioned whether aspects of the current plan breach human rights law.
They have also questioned why the informed opinion of many debt professionals that contributed to the consultation exercise appears to have almost entirely ignored.
It would appear that argument and negotiation is likely to continue for some time on these issues.
As it currently stands, the set of proposals appear to be very bad news for Scottish individuals and families that get into financial trouble in the future.