DAS

The Debt Arrangement Scheme rules have been relaxed to prevent further repayment problems and a potential slide towards bankruptcy. What are the changes?

The Accountant in Bankruptcy (AiB) administers official debt procedures in Scotland, which include the debt payment plans that are a central part of the Debt Arrangement Scheme (DAS).

If you’re struggling to repay debt and looking for a way to better manage the situation, you may have come across two commonly-offered options.

If you’re getting married and are worried about what happens to your personal debts, initially you need to consider whether the debts are in your name only, or are joint with your partner – this determines if your spouse can be held responsible for repayment.

If you are experiencing financial worries and your debt simply does not seem to be going down, you may be considering entering into a formal debt solution in order to help you manage.

If you’re trying to deal with overwhelming amounts of debt, you may be eligible for the Debt Arrangement Scheme in Scotland.

The Scottish Debt Arrangement Scheme, or DAS, is a debt solution that allows you to pay off unsecured debts without having to declare insolvency.

The Debt Arrangement Scheme, or DAS, is a debt procedure available to residents of Scotland who are struggling to repay their unsecured debts.

The Payment Protection Insurance scandal of recent years has led to hundreds of thousands of people making claims for compensation relating to financial products they were mis-sold.

Scotland has a number of formal debt solutions that can help you deal with a difficult financial situation.

The Business Debt Arrangement Scheme was introduced by the Scottish government in 2014, and helps businesses run by sole traders, as well as partnerships, trusts, and unincorporated bodies, to repay debt over an extended period of time.

If you owe a debt of £5,000 or less, your creditor may send you a Simple Procedure Notice of Claim. This is a relatively new procedure that was brought in by the Scottish government and commenced on 28th November 2016 – their intention being to make it easier to resolve debt disputes.