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The questions we get asked most about debt arrangement schemes in Scotland.
f you don’t keep up your payments the DPP could fail, and creditors can add interest charges, or take further action against you.
A DAS Scotland DPP will appear on your credit file for six years. With the exception of interest and charges, debt will not be written off after 48 months, like with a Trust Deed.
You make an affordable payment into your debt arrangement scheme. This payment is then shared out on a fair basis between your creditors that you owe money to.
The DAS is set up and managed by an approved money advisor in Scotland, and your DAS payments are taken and passed onto your creditors by a payments distributor.
Typically, 10% of your monthly debt arrangement scheme payment is taken as fees to cover the running costs of the DAS.
In Scotland, DAS is available from both fee-charging and free organisations. Call us on 0141 380 0588 for further information.
A debt arrangement scheme length depend on how much debt you owe and how much surplus money you have left over each month to pay the debt.
You’ll only be able to set up a DAS in Scotland if you can repay what you owe in a reasonable amount of time which is typically under ten years.
You may also qualify for alternative debt solutions if you live in Scotland such as a Trust Deed, or Sequestration. Try our Debt Repayment Calculator tool to work out which solution is best you you.
Yes. Debt Helpline Scotland are leading Scottish debt advisers. We understand every situation is unique.
A Trust Deed Scotland is another popular government created tool that allows an individual to repay unaffordable debt after a typical period of 48 months.
Whether you are a homeowner or not, we will be able to assess your affordability and provide alternative solutions, and all the pros and cons associated with those solutions, including Sequestration, Secured Loans and Minimal Asset Process.
Give us a call on 0141 380 0588 for a free, confidential chat about your debt situation.