Frequently asked DAS questions
- What is the Debt Arrangement Scheme (DAS)?
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If you live in Scotland and you can't keep up with payments to your unsecured debts, DAS (the Debt Arrangement Scheme) could be just what you need.
DAS could help you repay what you owe at a rate you can afford. If DAS is right for you, we'd help you put together a Debt Payment Programme (DPP), which tells your lenders how quickly you can repay your debts without paying more than you can afford each month.
Once accepted, this can make a huge difference. With all interest and charges frozen, you'll know you're really reducing your debt with each payment - and you'll know your lenders won't try to take you to court as long as you stick to your DAS payments.
Your lenders have the opportunity to tell us if they object to your plan for any reason, but we'll work with you to make sure your proposal is reasonable.
- How could DAS help me?
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All interest and charges on your debts will be frozen. So they won't be growing while you're repaying them. Even though you're making smaller payments, you won't be taking 'two steps forward, one step back' any more. (If you've been struggling to keep on top of your debts, you'll probably know what that feels like.)
Your payments on DAS will be affordable. They'll be based on what you can afford after you have covered your essential costs (mortgage/rent payments, food, households bills, etc.).
And as long as you make the agreed payments, your lenders won't be able to take you to court.
- Is DAS right for me?
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If you live in Scotland and can't afford your payments to your unsecured debts, you might be able to enter DAS - as long as you can make a payment towards those debts every month.
If you've been made bankrupt or you're currently on a Trust Deed, you won't be able to apply for DAS.
- How long will DAS take?
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It'll last as long as you need to repay your debts at a rate you can afford. If your finances get better and you can start making your original payments again, it can end early.
- How much will I pay each month?
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You'll pay no more than you can afford - without using money you need for essential costs like rent / mortgage, utility bills, food, etc.
If your income rises or falls while you're on DAS, your payments could rise or fall too. The whole point of DAS is that it helps you get out of debt as fast as you can afford - without falling behind on your other bills.
- How do I enter DAS?
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We're an approved Money Adviser, and one of only a few organisations that can take you all the way through, from start to finish.
Talk to us. If DAS really is the best way for you to tackle your debts, we can talk to your lenders for you and arrange a repayment plan you can stick to.
- What if I change my mind?
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You are under no obligation whatsoever to enter a debt solution. If you do choose to enter a solution, and then change your mind about it, you have the right to cancel the agreement at any time within the first 14 days.
Could DAS help me?
DAS could be the best answer to your debt problems if you live in Scotland and can't afford your debt payments. You could repay your debts in smaller monthly payments - without going through the courts.
It won't be an option if you're bankrupt or on a Trust Deed.
If you're not sure whether you'd be able to access DAS, you can find out by calling 0800 505 3848.
How does DAS work?
First of all, as soon as it's decided that DAS is the best way forward, we'll let your lenders know so that they can give you some time to apply.
Your DAS-approved 'Money Adviser' will help you figure out what you can afford to pay each month. They'll put together a Debt Payment Programme (DPP), which tells your lenders how you could repay your debts.
If your lenders agree to your proposal, you can start. If they don't, we can see if any other solutions are suitable - although in some cases, the 'DAS Administrator' could approve your DPP anyway if they think it's the best way for you to repay what you owe.
Once your DPP has started, you'll just have to keep on making your single monthly payments. You won't have to worry about distributing money to each lender - we'll do that for you. And as long as you keep up with your payments, your lenders won't be able to take you to court and all interest and charges on your unsecured debts will be frozen.
Are there are any downsides to DAS?
Your Money Adviser can tell you all about DAS, including the downsides - like the fact that it'll take you longer to repay your debts, since you're making smaller payments every month. Still, you'll know you're able to afford those payments, which is better than struggling to keep up with ones you can't afford, and falling further behind every month.
Since you're not repaying your debts the way you agreed, your credit rating will be affected. Even so, that's something that may have already happened, since you can't keep up with your payments as they stand today.
Finally, your name will be placed on the DAS Register, so you won't be able to borrow any more money while your DPP is running.
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