The Debt Arrangement Scheme (DAS) can help your find your way out of a debt problem ...
In debt and finding it difficult to repay?...the sooner you seek advice the better.
The Debt Arrangement Scheme (DAS) gives you both the help and the time to repay your debts in full. All you need is some surplus income.
DAS can give you:
- Protection from court enforcement, bankruptcy and loss of your home (provided you keep up mortgage/rent payments)
- The opportunity to freeze interest, fees and charges on your debt, from the date your DAS debt payment plan is approved.
- Breathing space and extra time to pay
- An aftercare service should your circumstances change
- If you are a sole trader with business debts these can also be included in a DAS.
To apply you must have at least one debt which you want to pay off and you must apply through a qualified Money Adviser. They will assess your situation and, if suitable, apply to have you placed on the scheme.
Once you are on a DAS a single regular payment is made to an approved payments distributor. They will distribute this to your creditors splitting each payment in proportion to the size of each debt.
As long as you keep to the agreed payments, your creditors cannot carry out enforcement action against you and must agree to freeze interest on your existing debts.
The scheme is currently only available in Scotland. Your credit rating will be affected.
To speak to a qualified money adviser call: 01506 407386