Debt Arrangement Scheme
(available in Scotland only)
A DAS is only available to Scottish Residents. It is a government run debt management tool which allows you to repay your debts through a debt payment programme. This will allow you to pay off your debts over an extended period of time while giving protection from the creditors taking action against you to recover the debts.
If approved it will freeze all interest, fees and charges on the debts included. Creditors cannot legally contact you about payment, they can only send you your regular statements.
The payments you make into a DAS are based on your income and expenditure, so should always be affordable to you.
You can only make one application a year, so if your DAS application is rejected, you will have to find an alternative solution or wait 12 months before you can reapply. This is to stop people abusing the DAS system, for example to delay creditor legal action.
YOU CAN APPLY FOR A DAS IF:
- You are a Scottish resident only.
- You are struggling to pay your unsecured debt.
- Have 2 or more creditors
- You have a disposable income after paying your priority bills that you can pay towards your debts.
MAIN ADVANTAGES AND DISADVANTAGES:
- A DAS offers you legal protection from your included creditors.
- Your assets are generally not included in a DAS.
- Interest and charges on included debts will be frozen.
- Creditors cannot legally contact you about payment, they can only send you your regular statements.
- The payments you make into an DAS are based on your income and expenditure, so should always be affordable to you.
- You must go through a Money Advisor to get a DAS.
- You must pay a fee to your payments distributor
- Your credit file will be affected.
- You can only make one application a year, so if your DAS application is rejected, you will have to find an alternative solution or wait 12 months before you can reapply. This is to stop people abusing the DAS system, for example to delay creditor legal action.
- A DAS is a formal Insolvency process and a matter of public record, so it is a serious matter and the final decision to pursue this would need to be yours. It is important therefore that you do your own research. The Money Advice Scotland website can point you in the direction of free debt counselling, debt adjusting and any credit information available to you.
Freephone 0800 009 6211
Consumer Information Service only gives advice, we do not provide any debt solutions and we do not charge for our advice. If during our conversation with you and after discussing the options that are available to your personal situation you decide a debt solution is the most appropriate option for you, then we offer a no obligation referral to carefully selected debt solution providers for which we may receive a referral fee.
Some debt solutions involve fees to you. These fees will always be explained to you and can differ depending on your circumstance. Any fees will be confirmed in writing from the debt solution provider before any agreements are signed.
Consumer Information Service is a trading name of Consumer Claims Service Ltd, registered in England and Wales, Company Number 9703609. Unit 1 Mallard Court, Crewe Business Park , Crewe CW1 6ZQ. Data Protection Registration Number: ZA145229 Consumer Information Service is an Appointed Representative of Debt Help Ltd authorised and regulated by the Financial Conduct Authority 782878.